Infosys to hire 55,000 graduates this fiscal

Software major Infosys said on January 12, 2021 that it has expanded its fresher hiring programme to 55,000 for the year, as it sees strong demand for its services. This also comes at a time when its attrition has spiked, amidst an unprecedented war for technology talent in India.

The software major reported third-quarter earnings that came ahead of consensus estimates. It also raised its revenue growth guidance, for the third time this year to 19.5-20 percent from the previous 16.5-17.5 percent. But its attrition for the quarter zoomed to 25.5 percent compared to 20.1 percent in the previous quarter. The company had earlier said it would hire 45,000 freshers this fiscal.

Infosys CFO Nilanjan Roy, said, “We continue to prioritise investments in talent acquisition and development and have further increased our global graduate hiring programme to over 55,000 for FY22 to support our growth ambitions."

Infosys saw broad-based growth and robust deal momentum. Large deal wins accelerated with TCV(total contract value) of $2.53 billion in Q3. The operating margin for the quarter was at 23.5 percent.

"Our strong performance and market share gains are a testament to the enormous confidence our clients have in us to help them in their digital transformation. This stems from four years of sustained strategic focus on areas of relevance for our clients in digital and cloud, continued re-skilling of our people, and deep relationships of trust that our clients have with us. This is reflected in an upgrade in our revenue guidance to 19.5-20.0 percent for FY22," said Salil Parekh, CEO and MD, Infosys.