Will Infosys do campus hiring in FY25? 'Hardly have any headroom left but...'

Infosys, India's second-largest IT company saw declining employee headcount for six consecutive quarters.

Published on: Jul 18, 2024, 18:47:47 IST

By HT News Desk | Edited by Abhyjith K. Ashokan

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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.

A man walks past a billboard of Infosys Technologies Ltd's office in Bangalore, October 10, 2003. (Jagadeesh NV/Reuters)

Also Read: Infosys Q1 results: Revenue up 7%, net profit grows 3.6%, revenue outlook raised, ₹11,625 crore set for dividend

“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.

Also Read: States like Gujarat and Tamil Nadu invite Tesla's component suppliers to eventually lure Tesla: Report

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%.

Also Read: Tesla is now on a hiring spree after Elon Musk orders mass layoffs

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