This IT Giant Plans To Hire 15,000-20,000 Freshers In FY25; Check Details Here

The announcement follows a trend of declining workforce at the IT firm over the past six quarters. In the first quarter of FY25 alone, the company saw a reduction of 1,908 employees in its headcount

As of the end of the June quarter, the company's total headcount stood at 315,332

Source : Pixabay

Infosys, India's second-largest IT services company, announced on Thursday its intention to recruit as many as 20,000 new graduates in the fiscal year 2024-25 (FY25). This decision comes as the company has experienced a continued decrease in its workforce for six consecutive quarters. The recruitment drive will spread across both on-campus and off-campus hiring strategies. 

Additionally, management highlighted that they have successfully onboarded a significant portion of fresh recruits whose start dates were postponed.

Jayesh Sanghrajka, CFO of Infosys, said at a media briefing after the Q1 results announcement, “With utilisation at 85.3 per cent, we hardly have any headroom left. We will look at hiring 15,000-20,000 freshers this year on how we see the growth. This will be a combination of both on-campus and off-campus.”

The announcement follows a trend of declining workforce at the IT behemoth over the past six quarters. In the first quarter of FY25 alone, the company saw a reduction of 1,908 employees in its headcount. As of the end of the June quarter, the company's total headcount stood at 315,332. Compared to the previous year, this reflects a decrease of 20,962 employees.

Following its peers, Infosys has disclosed its hiring goals. Tata Consultancy Services (TCS), Infosys' larger counterpart in terms of revenue, has set a hiring target of 40,000. In the first quarter, TCS recruited 11,000 new graduates.

Meanwhile, Infosys reported a 7 per cent rise in net profit for the first quarter of fiscal year 2024-25 and adjusted its growth forecast for the year ahead. According to the company's filing with the stock exchange, consolidated net profit climbed to Rs 6,368 crore in the April-June quarter, compared to Rs 5,945 crore recorded in the corresponding period the previous year. However, the net profit for the quarter decreased by 20 per cent to Rs 7,969 crore from Rs 7,969 crore in the last January-March period.