Bengaluru-based IT services major Infosys saw its headcount shrink by 6,101 for the quarter ending December 31, making it the fourth consecutive quarter in which the company ended with fewer employees.
The company ended the December quarter with 322,663 employees.
During Q2FY24, Infosys witnessed a reduction in headcount by 7,530, in contrast to an increase of 1,627 in Q3FY23. In parallel, its competitor, Tata Consultancy Services (TCS), disclosed its figures today, revealing a decline in headcount by 5,680 to 603,305.
ALSO READ: Infosys Q3 results: Net profit falls 7% YoY to Rs 6,106 crore; misses estimates
Attrition for the quarter sustained its decline, registering at 12.9 percent, down from the previous quarter's 14.6 percent on a last-twelve-month basis. This trend is indicative of a cooling talent market, as attrition rates further normalises.
Hiring continues to remain low priority and more so for backfilling attrition, as IT companies have been facing tepid demand in their key markets, which in turn are battling macroeconomic slowdown.
The company's utilisation rate went up to 82.7 percent in Q3 from 81.8 percent in Q2, excluding trainees.
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