Infosys Technologies, India’s second largest Information Technology firm will add another 9,000 employees till March 2009, thereby sticking to its plans of hiring 25,000 employees during the fiscal year despite the clouds of uncertainty in recession hit Western markets.
Infosys Technologies is also eyeing acquisitions worth $600 million - $700 million in Europe and Japan after losing out on the acquisition of Axon Group, a leading UK based SAP technology services provider, to HCL Technologies.
Campus hiring will continue to contribute over 70 per cent of the total recruitment. “We have placed 18,000 campus offers and employed a total of 16,000 people already,” S. “Kris” Gopalakrishnan, chief executive officer and managing director of Infosys Technologies told reporters at the Confederation of Indian Industry’s India Economic Summit. The company is recruiting people at the same salaries as were offered earlier, he added.
“Utislisation (of staff) is coming down and bench (employees who are not assigned to any ongoing project) is getting higher but we are here for the long run," said Gopalakrishnan.
He ruled out the possibility of layoffs and said that the company will continue to spend on employee training. Infosys spent around $175 million on employee training in 2007 and plans to spend a similar amount this fiscal.
Although a weakening rupee has worked as a positive development for Infosys the company expects its third quarter revenue that are to be announced in December to decline as the US dollar continues to rise against other currencies.
At present, the United States and Europe contribute about 60 and 20 per cent of Infosys’ respectively. The company is trying to de-risk its business from the risky US market by generating 40 per cent of its revenue from the US and Europe each and rest from other markets in the next five years.