Home / News / India /  After Wipro, Infosys reportedly fired 600 freshers who failed internal tests: Report

Indian IT Tech giant, Infosys is reported to fire 600 freshers who failed in the internal test according to media reports. This comes just after few days after another IT firm Wipro laid off freshers who failed the internal tests.

“I began working at Infosys in August 2022 and was given training for the SAP ABAP stream. Out of 150 in my team, only 60 passed the exam; rest all of us were sacked two weeks ago. From those who joined in July, 85 were terminated out of total 150," the report quoted by Business Today a fresher was saying.

A company representative, on the other hand, countered this claim, telling Business Today that failing the internal tests has always led to job cuts.

Earlier, Wipro terminated freshers after they failed in the internal test over poor performance.

India’s second-largest information technology (IT) services company, Infosys, reported a 13.4% year-on-year rise in net profit for Q3FY23 to 6,586 crore, up from 5,809 crore, in turn raising its revenue growth guidance for this financial year (FY). The company upped its FY23 revenue growth guidance to 16-16.5% from the earlier forecast of 15-16%, beating analyst expectations of guidance remaining constant. Operating margin guidance for FY23 was retained at 21-22%.

In terms of attrition and employee costs, while Infosys saw consolidation, its per-employee revenue earnings for the quarter dropped by over 6% to $54,200 — down from $57,100 last year. Infosys' voluntary attrition -- a metrics keenly watched by analysts -- showed marked improvement and easing worries. Attrition fell to 24.3 per cent in December quarter.

Attrition reduced meaningfully during the quarter and is expected to decline further in the near-term.The company ended the December quarter with 3,46,845 employees, against 3,45,218 in previous sequential quarter.

The net employee addition slowed to 1,627 from over 10,000 in the previous quarter of the fiscal. In contrast, voluntary attrition was at 27.1 per cent in September 2022 quarter and 25.5 per cent during three months ended December 2021.

*With agency inputs

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Recommended For You
Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout