Infosys Plans to hire 50,000 employees

One of the leading IT firms in India, Infosys remains the biggest victim of the talent war with a high number of employees resigning from the organization. In the January-March quarter, Infosys’ attrition worsened to 27.7% from 25.5% in the previous quarter. Infosys' attrition rate is even worse than the biggest IT firm in India, TCS. The attrition rate of TCS is 17.4% in the same quarter. However, the company management informed that the attrition rate has come down on a quarterly basis as against the LTM (last twelve months) data disclosed. Also, they hope that the attrition rate to reduce gradually as it also kicks off hikes from April 1.

Nilanjan Roy, chief financial officer at Infosys said: “Attrition for the quarter has come down by close to 5% both in percentage and absolute headcount. So we talked that last quarter attrition had actually stabilised… of course the tail effect will continue to climb. Good news is we have seen stability and of course the intervention we are looking at like the April 1 hike plan, we should continue to see some improvement in them.” Also to effectively deal with high attrition rate, the company is looking to hire more than 50,000 employees in FY23 as against 85,000 it hired in FY22.