Infosys, India’s second-largest IT services firm announced a hiring target of 15,000-20,000 employees for the financial year 2024-25 after losing employees for six consecutive quarters. This includes both campus and off-campus recruitment.
“With utilisation at 85.3 per cent, we hardly have any headroom left,” said Jayesh Sanghrajka, CFO of Infosys, during the media briefing after its financial results for the first quarter of 2024-25. “We will look at hiring 15,000-20,000 freshers this year based on how we see the growth. This will be a combination of both on-campus and off-campus.”
How many employees did Infosys lose this quarter?
Infosys saw a decline of 1,908 employees in the first quarter of 2024-25, while its total headcount was 315,332, according to a Business Standard report. Infosys lost 20,962 employees compared to the same quarter of the previous year.
How did Infosys’ competitors like TCS and HCLTech fare in terms of headcount for the first quarter?
Tata Consultancy Services (TCS), the larger competitor of Infosys and India’s largest IT company also saw a declining headcount of three consecutive quarters till the first quarter of 2024-25 where it added 5,452 employees. TCS had a total heacount of 606,998 employees at the end of the first quarter of 2024-25.
TCS had announced a hiring target of 40,000 for 2024-25, taking in 11,000 freshers during the first quarter.
HCLTech, India’s third-largest IT services company said it would hire 10,000 freshers for the financial year 2024-25. It witnessed a fall of about 8,000 employees, but because its joint venture with State Street ended.
Attrition for Infosys was 12.7% this quarter compared to 17.3% in the same quarter of the previous year. For TCS, it was 12.1%, and for HCLTech, it was 12.8%.
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