Home / Companies / People /  Infosys increases fresher hiring target as employee attrition jumps

While announcing its earnings for the quarter ending December 2021, India's second-largest IT company Infosys on Wednesday said that the company is planning to hire over 55,000 freshers for FY22 as part of its global graduate hiring program.

“We continue to prioritize investments in talent acquisition and development and have further increased our global graduate hiring program to over 55,000 for FY22 to support our growth ambitions", said Nilanjan Roy, Chief Financial Officer.

Infosys' total employees headcount as of December 2021 stood at 2,92,067 as compared to 2,79,617 in the previous quarter and 2,49,312 as of December 2020. On the other hand, its voluntary attrition (LTM - IT Services) has risen to 25.5% from 20.1% in the September quarter and 11% year-on-year (YoY). 

"Our talent strategy continued to be a key focus area marked by efforts to further strengthen employee skilling and well-being while nurturing our workforce to fulfil client requirements," said Salil Parekh, CEO and MD of Infosys.

Meanwhile, the company reported consolidated net profit of 5,809 crore for Q3FY22, registering an increase of 12% from 5,197 in the same quarter last year. Its revenue grew by nearly 23% to 31,867 crore in the quarter ended December 2021 from 25,927 crore in the year-ago period. Infosys has raised its FY22 revenue growth outlook to 19.5-20% from previous guidance of 16.5-17.5%.

Infosys said growth remained broad-based during the quarter and deal momentum robust, with digital transformation rapidly scaling across verticals and regions.

“Despite the cost escalations driven primarily by supply side challenges, we delivered another quarter of healthy margins, with improved cost optimization, continued operating leverage and a stable pricing environment," Roy added.

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