The annualised standalone attrition of Infosys in the third quarter stood at 17.6 percent while the total number of employees stood at 2.43 lakh.
UB Pravin Rao, Chief Operating Officer, at a press conference on January 10, said, “The voluntary attrition is about 15.6 percent.” This would mean that close to 2 percent of the total employees would have been let go.
The rate of involuntary attrition has seen a quarter-on-quarter rise of 60 basis points as it stood at 1.4 percent for the quarter that ended on September 2019.
Rao explained that these layoffs were based on performance assessments. Employees who were let go were the ones who are unable to transition despite the reskilling efforts the company is taking.
Last quarter, the attrition stood at 19.4 percent, of which close to 18 percent were voluntary and the rest were involuntary.
According to the firms statement, total attrition for the quarter is 8,303 . "This is the average every quarter," the statement added.
Rising layoffs aside, the firm’s attrition woes are in control. From 23.4 percent in Q1 to annualized consolidation has come down to 21.7 percent in the second quarter and 19.6 percent in the third quarter.
Rao said the firm's interventions around employee engagement and career progression are paying off.
“We have fast track promotions and accelerated career options in the US as well,” said Rao. In addition the company has also introduced milestone-based increment to retain talents.
The company has also been stepping up its hiring efforts. Infosys has hired close to 12,000 employees in India with 7,000 being campus hires and the rest being lateral hires. Total hiring for the second quarter stood at 14,000, both freshers and lateral hires and 700 of them from outside. For the quarter that ended on June 2019, the company had hired close to 8,000 people in total.
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