Tuesday, October 21, 2025
spot_img

Infosys Q4FY23, Total Headcount Dropped By 3,611

spot_img
- Advertisement -

Infosys, a global leader in next-generation digital services and consulting, announced results for the fourth quarter and year ended March 31, 2023, on Thursday, April 13, 2023, around 3.45 p.m. Indian Standard Time (IST) (6:15 a.m. ET; 3:15 a.m. PST; 11:15 a.m. London time; 6:15 p.m. Singapore/Hong Kong time).

Infosys Chief Financial Officer Nilanjan Roy said, “Our continued focus on cost optimization and operational efficiencies have helped in achieving operating margins of 21 percent in FY23.”

“Free cash generation in Q4, led by robust collections, was strong. Executing on our capital allocation policy, we successfully completed the share buyback and have proposed a final dividend of Rs 17.50 for FY23,” Nilanjan Roy added.

Infosys CEO and MD Salil Parekh said, “Our strong performance in FY23 is a testimony to the continued focus on digital, cloud, and automation capabilities which resonated with our clients. We have launched exciting programs with our clients leveraging generative AI platforms”.

“As the environment has changed, we see strong interest from our clients for efficiency, cost, and consolidation opportunities, resulting in a strong large deal pipeline”, Salil Parekh added.

Salil Parekh further added, “We have expanded our internal program on efficiency and cost to build a path to higher margins in the medium term. We continue to invest in our people and in supporting our clients.”

The company’s attrition rate during the fourth quarter dropped to 20.9 percent, as compared to 24.3 percent in Q3 FY23. The attrition rate in the September 2022 quarter was 27.1%. The percentage of Women Employees contribution as of March 31 is 39.4 percent.

The total employee count as of March 31 stood at 3,43,234, marking a drop of 3,611 employees as compared to the previous quarter. Infosys’ total employee count stood at 3,46,845 in Q3FY23.

TCS attrition for every quarter has seen a deep fall to 20.1 percent, continuing its downward trend from last quarter. TCS has reported attrition in Q3FY23 stood at 21.3 percent, a slight decline from 21.5 percent in Q2FY23 on a last-twelve-month basis. 

The company’s headcount as of March 31, 2023, stood at 6,14,795. In the previous quarter, TCS in Q3FY23 posted a decline of 2,197 people in its employee base, and TCS headcount stood at 613,974 as on December 31, 2022.

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

SMA Solar to Cut 350 Jobs Globally Amid Market Pressures

German solar inverter manufacturer SMA Solar Technology AG has...

Cognizant acquires Inawisdom, ninth acquisition in 2020

Cognizant Acquires Inawisdom, an Artificial Intelligence and Machine Learning...

KidZania Appoints Tarandeep Singh as Chief Business Officer

KidZania, the leading global edutainment destination, is excited to...

Davos 2024: Gautam Adani, McKinsey, Cognizant: Key Takeaways

The 54th World Economic Forum (WEF) Annual Meeting was...

The average salary in India is likely to increase by 10 % in 2020: Survey

According to a recent Willis Towers Watson survey, salaries...

Cognizant Bets on Freshers in 2025 to Support AI-Driven Work

Cognizant, the US-based IT company, plans to bring in...

JPMorgan set to pay $200 million fine over staff communications lapse

JPMorgan Chase & Co is preparing to pay nearly $200...

Cognizant and Infosys Focus on Vendor Consolidation Deals

As global economic uncertainties continue to impact the IT...

Related Articles

Sheenu Pradhan
Sheenu Pradhanhttps://sightsinplus.com/
Sheenu Pradhan, Editor Content, SightsIn Plus. She has over 8 years of experience in human resources. Prior to this, she has been associated with Wictor Chemicals India, Wipro, and Shakti Plas Industry.