Infosys is hiring more than half of its fresher workforce off campus and so the company is yet to decide its campus hiring target for the fiscal year 2025, chief financial officer Jayesh Sanghrajka said on April 18.
The IT services giant had skipped campus hiring for at least the last three quarters in the fiscal year 2024, a year after it had hired roughly 51,000 freshers in FY23.
Speaking at Infosys’ fourth quarter earnings conference in Bengaluru, Sanghrajka said, “We have changed our hiring model significantly. We no more hire all the freshers from campus. We hire less than half of them from campus and more than half of them off campus.”
“At this time, we have 82 percent utilisation rate, we still have headroom to grow; and attrition levels are also very low. We have not yet decided on the campus hiring numbers at this point,” he added.
According to Sanghrajka, Infosys believes its utilisation rate can grow up to 84-85 percent, which is a comfortable level for the company.
Meanwhile, Infosys, for the first time in at least 23 years reported a decline in full year headcount addition. Infosys’ total headcount plunged by 25,994 in FY24.
On a quarterly basis too, its headcount dropped for the fifth consecutive quarter. It added 5,423 fewer employees in Q4 consecutively.
On this, Sanghrajka said, “Our utilisation rate improved from 77% utilisation including trainees in the beginning of the year. The growth environment was also very different at that point so we had guided differently. We had to realign some of those factors as the growth environment changed. Our utilisation has changed to 82%. Our attrition has also come down significantly. That’s the reason you see a net headcount reduction.”
Infosys reported its earnings for the fourth quarter ended March 31, on April 18. The company clocked net profit of Rs 7,969 crore for the quarter, beating street estimates. Revenue came in at Rs 37,923 crore for Q4.
The company slashed its revenue growth guidance for FY25 to 1-3 percent from 4-7 percent a year back, amidst uncertain demand conditions. Operating margin range for FY25 has been guided at 20-22 percent.
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