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The IT giant has reported a decline in headcount for six consecutive quarters.
India's second-largest IT services firm Infosys is planning to hire up to 20,000 freshers in the current financial year (FY25), the company said on Thursday, July 18, 2024, amid a decline in headcount for six consecutive quarters.
The hiring will be both on and off-campus.
The management also said they have onboarded most of the recruited freshers whose joining was delayed.
"With utilisation at 85.3 per cent, we hardly have any headroom left. We will look at hiring 15,000 to 20,000 freshers this year on how we see the growth. This will be a combination of both on-campus and off-campus," Jayesh Sanghrajka, CFO, Infosys said at a media briefing after the results.
The announcement comes after the IT giant reported a decline in headcount for six consecutive quarters.
In the first quarter of FY25 too, the company saw its headcount decline by 1,908 employees.
The company's total headcount at the end of the June quarter was 315,332. On a year-on-year (Y-o-Y) basis, the headcount is down by 20,962 employees.
Infosys joins its peers by announcing its hiring target.
Tata Consultancy Services, Infosys' larger peer by revenue, has announced a hiring target of 40,000.
For the first quarter, TCS took on board 11,000 freshers. Like Infosys, TCS too had seen a decrease in headcount.
The Q1FY25 that saw an addition of 5,452 employees happened after three consecutive quarters of decline in the employee base.
At the end of the first quarter of Q1FY25, TCS reported a headcount of 606,998.
India's third largest IT services player HCLTech also said it would hire 10,000 freshers in FY25.
Though the company's headcount fell by over 8,000 employees, it was mainly due to the end of its joint venture with State Street.
Infosys' attrition for Q1FY25 was 12.7 per cent compared with 12.6 per cent in the preceding quarter, and 17.3 per cent Y-o-Y.
TCS saw its attrition at 12.1 per cent, while HCLTech was at 12.8 per cent, up from 12.4 per cent in the preceding quarter.
Feature Presentation: Ashish Narsale/Rediff.com
