Infosys Ltd, India’s second-largest IT company, is set to hire 15,000 to 20,000 fresh college graduates in the financial year 2024-2025 despite a relatively dry job market, reported Moneycontol.
“We are looking to hire 15,000-20,000 freshers this year depending on how we see the growth,” the report quoted Infosys chief financial officer Jayesh Sanghrajka as saying.
In the financial year 2023-2024, Infosys hired 76 per cent fewer freshers. The headcount stood at 11,900 new graduates compared to 50,000 in the previous year, according to the report.
The company has moved to an agile hiring base, with on- and off-campus recruitments. Sanghrajka said Infosys saw a headcount drop of 2,000 personnel, which was lower than the previous quarters.
“Our utilisation is already at 85 per cent, so we have little headroom now left. As we start seeing growth we will look at hiring,” he said, as per the report.
Tata Consultancy Services (TCS) is to hire nearly 40,000 fresh graduates in the financial year 2025, out of which the company has already taken close to 11,000 trainees in the first quarter, as per the report.
The first quarter results of Infosys stated that the total employee strength had decreased 6.2 per cent to 315,332 as of June 2024, down year-on-year from 336,294 employees in June 2023.
The IT major announced a 7.1 per cent increase in net profit to ₹6,368 crore at the end of the April to June quarter, as compared to ₹5,945 crore in the same quarter the previous year. The company’s revenue from operations increased 3.6 per cent to ₹39,315 crore in Q1FY25 as compared to ₹37,933 crore in the first quarter of the previous financial year.
Its rate of attrition has increased by 0.1 per cent to 12.7 per cent when compared to the attrition figure at the end of the financial year 2023-2024.