Infosys' hiring declines by 29 percent
By siliconindia   |   Thursday, 21 August 2008, 17:16 IST
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Bangalore: As part of its strategies to beat economic slowdown, Infosys, one of the major IT companies in India, has decided to slash the hiring. When compared with the previous fiscals hiring rate, there will be a decline by 29 percent during the current fiscal. Infosys has now plans to recruit only 2,5000 new employees, whereas the firm had added about 3,5000 employees during the period 2007-08. Nandita Gurjar, Senior Vice President and Group Head of Human Resources, Infosys said that out of 2,500 new hiring, 1,800 would be through campus recruitment. "The impact on hiring would be visible in the last two quarters of the current fiscal," she added. She also mentioned that the decline in the number of hiring is not only because of the economic slowdown but various other factors such as infrastructure and business plans. Moreover, while the company had 3372 trainees for the quarter ended in June 30, 2008, it had added 5,070 trainees during the same period of the previous fiscal year. According to Nandita, the attrition rate of Infosys has marginally came down by 13.6 percent, the attrition rate of the corresponding period a year ago was 13.7 percent. "Infosys would be introducing promotions for its employees twice a year. The new policy would not add to the company's wage pressures as the process has already been factored into Infosys' HR structure," she told. Infosys' salary hike this year has been 13 to 14 percent, whereas it stood at 14 to 15 percent during the previous year. About the under performers, Nandita said that such employees would be enrolled in Infosys' improvement program for three months and then only the company would think about dismissing such under performers.

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