Infosys to hire 15,000-20,000 freshers in FY25
· Workforce reduced by 1,908 in Q1
· Infosys hit all-time high post Q1 results
Infosys is planning to hire 15,000-20,000 freshers for the fiscal year 2025, according to Chief Financial Officer Jayesh Sanghrajka. During a press briefing announcing the company’s Q1 results, Sanghrajka stated that the hiring plans will depend on the company’s growth outlook.
Sanghrajka highlighted Infosys’s shift to an agile hiring base in recent quarters. “We hire freshers from on and off campus,” he said. Despite a net decline of 2,000 employees this quarter, which was lower than previous quarters, the company’s utilisation rate is at 85 percent. “We have little headroom left, so as we start seeing growth, we will look at hiring,” he added.
Hope for Graduates
Infosys’s hiring announcement brings hope to recent and soon-to-be graduates amid a year of declining IT job opportunities. In comparison, Tata Consultancy Services (TCS) plans to hire approximately 40,000 new graduates in FY25, having already onboarded about 11,000 trainees in Q1.
Industry Trends
In Q1, Infosys experienced a reduction in its workforce by 1,908, marking the sixth consecutive quarter of headcount decline. In contrast, TCS added a net total of 5,452 employees, although its total headcount fell by 1,759 compared to the March period. HCLTech also saw a sequential decline, reducing its workforce by 8,080 employees in Q1FY25. Meanwhile, LTIMindtree added about 284 employees sequentially in Q1.
Market Performance
Following the Q1 results, Infosys shares surged by 5% to a new all-time high of Rs 1,843 on the Bombay Stock Exchange (BSE). Several brokerages have adjusted their target prices for the stock upward. The Bengaluru-based IT giant reported a consolidated Profit After Tax (PAT) of Rs 6,368 crore for the quarter ending June 30, 2024, reflecting a 7% year-on-year increase. Infosys also increased its revenue guidance for FY25.
About Infosys
Infosys is a global leader in next-generation digital services and consulting, helping clients in over 56 countries navigate their digital transformation. With more than four decades of experience in managing global enterprise systems, Infosys expertly guides clients through their digital journeys powered by cloud and AI.
Infosys enables an AI-first core, empowers businesses with agile digital solutions at scale, and drives continuous improvement through always-on learning. This is achieved by transferring digital skills, expertise, and ideas from their innovation ecosystem. Committed to strong governance and environmental sustainability, Infosys fosters an inclusive workplace where diverse talent thrives.
(With inputs from agencies)
