Wednesday, October 1, 2025
spot_img

Infosys headcount crashed by 6,101: the firm may skip hiring

spot_img
- Advertisement -

Yesterday, January 11, IT giant Infosys announced its Third Quarter results for the financial year 2023-24.

Key highlights

  • 7.3% YoY decline in net profit to Rs. 6,106 crore in Q3FY24, revenue rises 1.3%
  • Improvement in attrition with a drop to 12.9 percent in Q3FY24
  • A drop of 6,101 in the total headcount, which stood at 322,663 in Q3FY24
  • No immediate campus requirement

Commenting on the Q3FY24, Salil Parekh, CEO & MD at Infosys said, “Our performance in Q3 was resilient. Large deal wins were strong at $3.2 billion, with 71 per cent of this as net new, reflecting the relevance and strength of our portfolio of offerings ranging from generative AI, digital and cloud to cost, efficiency and automation,”

According to Q3FY24 announcements, Infosys’ headcount crashed by 6,101 in Q3FY24. The Total number of employees in the Q3 ended on Dec 31, 2023, stood at 322,663.

Infosys Chief Financial Officer Nilanjan Roy said, “We continue to monitor the utilization and our flexi hiring model and at this stage of course we’re not seeing any immediate campus requirement.”

In the previous Quarter, the company said that it would skip campus hiring this year as it has a ‘way to go’ on utilization. However, it is monitoring the situation every quarter.

Employee Metrics

Total HeadcountQ3FY24Q2FY24Q1FY24
Total employees322,663328,764346,845
S/W professionals304,590310,375329,296
Voluntary Attrition % (LTM – IT Services)12.9%14.6%24.3%
% of Women Employees39.3%39.4%39.4%

However, the attrition of the company improved to 12.9 per cent from 14.6 per cent in the last quarter ending on Sept 30, 2023.

Recently, Infosys has inaugurated a development center (DC) at the Mihan-SEZ in Nagpur, Maharashtra. The new state-of-the-art development center (DC) will accommodate over 3,000 employees.

The company has invested over INR 230 crore in the development of this facility, which will provide greater flexibility for employees to work in a hybrid mode and enable re-skilling and up-skilling of local talent.

Peer company, TCS headcount dropped by 5,680 employees workforce stood at 603,305 as of December 31 with attrition at 13.3% for the last twelve months. The company’s workforce stood at 608,985 as of September 30, reported a dip of 6333 employees from the last quarter.

Milind Lakkad, Chief HR Officer, said: “We are committed to hiring from college campuses and growing talent organically. We have commenced our campus hiring process for the next year and see tremendous excitement among freshers to join TCS.”

Note: We are also on WhatsApp, LinkedIn, and YouTube, to get the latest news updates, Join our Channels. WhatsApp– Click hereto subscribe to YouTube – Click Here, and for LinkedIn– Click Here.

spot_img

Editorial

Why TCS Deferred FY25 Salary Hike: Better Hike Ahead?

TCS had initially announced its annual salary hike during...

Deloitte, PWC, EY, KPMG to Hire 1 Lakh People in India in FY25

According to estimates from top company officials and industry...

Higher EPS Pension Application Stuck: A Step-by-Step Guide to Fix

Nearly 97,640 Provident Fund (PF) members and pensioners under...

Employee Benefits at India’s Big 4 Firms Deloitte, PwC , EY, KPMG

The Big 4 firms; Deloitte, PwC (PricewaterhouseCoopers), EY (Ernst...

TCS Announces 4-8% Salary Hike for FY25, Lowest in Last 4 Years

Tata Consultancy Services (TCS), India's largest IT services provider,...

Must Read

HCLTech Walk-in Interview, October 27 to 29, Register Here

India’s third-largest IT services provider, HCLTech, is hosting a...

Thales to Hire 8,000 Employees Globally in 2025: A Strategic Growth Initiative

Thales, a global leader in advanced technologies for Defence,...

MLB gets ex- KPMG exec as Chief People & Culture Officer

MLB gets ex- KPMG executive, Michele Meyer-Shipp as Chief...

Apple plans to create 23,000 jobs in India by March 2022

Apple supply chain’s shift of operation to India, in...

Dalmia Cement appoints Udaiy Khanna as ED & Head – HR

Dalmia Cement (Bharat) has appointed Udaiy Khanna as Executive...

Goldman Sachs Onboards AI Engineer Devin for Tech Roles

Goldman Sachs has officially deployed Devin, the world’s first...

ESIC Adds 20.36 Lakh Employees to ESI Scheme in July

Employees’ State Insurance Corporation (ESIC) added 20.36 lakh new...

Seeking Certainty in an Uncertain World

Inflation? Recession? COVID variants?  Hybrid work? Political upheavals?  Natural...

Related Articles

SightsIn Plus
SightsIn Plushttps://sightsinplus.com/
SightsIn Plus is an India’s leading high-quality people-focused monthly HR Magazine and provides up-to-date HR News, Leadership Announcements, Best HR Practices and Insights by Global CHROs, CEOs, HR Advisors, Business Managers and HR Heads on topics of interest to HR professionals. To subscribe SightsIn Plus, HR Magazine please visit- https://sightsinplus.com/subscribe/