BENGALURU: IT companies are going slow on hiring and Infosys to moderate hiring based on the demand environment. Its headcount in the fourth quarter dropped by 3,611 employees.
On a year-on-year (YoY) basis, the total headcount increased by 29,219, down 46% compared to FY22. It had hired 54,396 in the previous financial year. As of March 31, 2023, the company’s total headcount stands at 3,43,234.
On hiring, Infosys said it has rich bench utilisation at 80% and they are ready to move into production projects. Infosys said that they have an agile model of hiring as demand picks up they have flexibility as well. The firm’s voluntary attrition has been coming down as it stood at 20.9% in Q4.
It was 24.3% in December 2022 and 27.7% for the quarter ended March 31, 2022.
“We have expanded our internal program on efficiency and cost to build a path to higher margins in the medium term. We continue to invest in our people and in supporting our clients,” Salil Parekh, CEO and MD said.