Infisys recently revealed its Q1 results and shared that it will hire 15,000 to 20,000 fresh college graduates in the financial year 2024-2025. This move comes despite a challenging job market. As per media reports,
Infosys has shifted to an agile hiring strategy, incorporating both on- and off-campus recruitments. Despite a drop of 2,000 in headcount, which was an improvement over previous quarters, the company noted that it has little headroom left. It highlighted that its current employee utilisation rate is 85 per cent, indicating that most of its workforce is actively engaged in projects. Due to this high utilisation rate, there is limited capacity to take on new employees immediately. However, the company also indicated that it anticipates growth, and will resume hiring to meet increasing demands.
In the previous financial year 2023-2024, Infosys significantly reduced its hiring, bringing on 76 per cent fewer fresh graduates. The company’s headcount stood at 11,900 new recruits, a sharp decline from the 50,000 fresh graduates hired the year before.
In comparison, Tata Consultancy Services (TCS) is set to hire nearly 40,000 fresh graduates in the financial year 2025, with close to 11,000 trainees already onboarded in the first quarter, the report mentioned.
Infosys’ first-quarter results indicated a total employee strength of 3,15,332 as of June 2024, a 6.2 per cent decrease from 3,36,294 employees in June 2023. The IT giant reported a 7.1 per cent increase in net profit.
