Infosys crosses 100,000 employee mark

Infosys crosses 100,000 employee mark


New Delhi: Nothwithstanding the pressure on the IT job market from fears of an economic slowdown, IT company Infosys has become the second technology firm in the country to cross the one-lakh employee mark after industry leader TCS.

Infosys and its subsidiaries added 10,117 employees in the second quarter of this fiscal that ended on 30September, taking the total head-count to 1,00,306 employees, Infosys said today after announcing its quarterly results.

TCS too had close to 1,16,308 employees on its payrolls at the end of the previous quarter. The net addition for Infosys stood at 5,927 during the second quarter.

During the quarter, the IT job market was under pressure due to the global financial crisis. Many IT firms had also postponed some of the new recruitments for next quarter.

Analysts feel that due to a slowdown in the US economy, Indian IT companies, who mostly depend on the US market for their revenue, had postponed joining dates of new recruits, raising doubts about their future.

The company announced a consolidated net profit of Rs1,432 crore for the second quarter, a 30.18% growth over the corresponding period a year-ago.

However, the results failed to cheer up its shares, which dipped to an intra-day low of Rs1,040, down over 17% from its previous closing price.