IANS | 18 Apr, 2024
The full-year headcount at IT major Infosys declined for the first
time in nearly 23 years, by 25,994 in the financial year 2023-24.
The full financial year headcount was 317,240 -- a 7.5 per cent decrease from the previous fiscal year.
"Our
utilisation rate has improved from 77 per cent utilisation including
trainees in the beginning of the year. The growth environment was also
very different at that point so we had guided differently," said Jayesh
Sanghrajka, CFO, Infosys, as the company reported its fourth-quarter
results on Thursday.
"We had to realign some of those factors as
the growth environment changed. Our utilisation has changed to 82 per
cent now. Our attrition has also come down significantly. That’s the
reason you see a net headcount reduction," he added.
On a quarterly basis, the company added 5,423 fewer employees.
"We
have changed our hiring model significantly. We no longer hire all the
freshers from campus. We hire less than half of them from campus and
more than half of them off campus," said Sanghrajka.
The IT
software giant declared a 30 per cent jump in net profit to Rs 7,969
crore for the January-March quarter, up from Rs 6,128 crore in the same
quarter last year.
