IT services giant Infosys said on April 17 that it has already started rolling out wage hikes for FY26 from January onwards, coming at a time when peers Tata Consultancy Services (TCS) and Wipro took a cautious stance on increments amidst an uncertain business environment.
Infosys has also set a target to hire over 20,000 freshers in FY26, and it has already met its target of adding 15,000-20,000 freshers in FY25.
Speaking at the company’s earnings conference, Jayesh Sanghrajka, CFO, Infosys said, “We are on track on wage hikes. Large part of the increments were rolled out in January and the balance will be rolled out effective April 1. We plan to hire 20,000 plus freshers in FY26.”
Meanwhile, last week, TCS said that it is deferring wage hikes this year and will roll it out "based on business environment".
Wipro said that wage hikes in FY26 will be decided closer to the date. The company gave wage hikes ahead of time in September last year. And that was done within a year of rolling out wage hikes in December 2023.
This is driven by the macroeconomic uncertainties caused by the US president Donald Trump’s tariffs.
Infosys reported a headcount increase of 199 in the fourth quarter ending March 31. For FY25, the company added 6,388 employees, bringing its total workforce to 323,578, up from 317,240 the previous fiscal year.
The attrition rate for the quarter on the last twelve-month basis increased to 14.1 percent from 13.7 percent in the December quarter.
However, it recently laid off 400 trainees at its Mysuru campus after they failed evaluation tests in three consecutive attempts, Moneycontrol had reported in February. This was approximately half of the trainees onboarded in October 2024.
Infosys reported a 12 percent year-on-year (YoY) fall in net profit to Rs 7,033 crore in the fourth quarter of FY25. Consolidated revenue for the quarter came in at Rs 40,925 crore, up 7.9 percent YoY.
Infosys guided for a revenue growth in the range of 0-3 percent in constant currency for the financial year 2025-26.
In January, Infosys had raised its constant currency (CC) revenue growth guidance for FY25 to 4.5-5% for a third quarter in a row, as against its previous guidance of 3.75-4.5%.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
