Infosys to hire 26,000 people this fiscal
Wednesday, 11 July 2007, 19:30 IST
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Bangalore: India's second largest IT firm Infosys Technologies Ltd will be on a hiring spree this fiscal (2007-08) too. In a bid to stem the growing attrition rate due to competition from the booming IT industry, especially the multinationals, the company plans to hire a whopping 26,000 people this fiscal. "Hiring continues to be strong and attrition is under control. We plan to hire 26,000 people for the year. In the first quarter (April-June), the gross addition was 7,004 employees and net addition 3,730," Infosys head for HRD and education and research T.V. Mohandas Pai said in a statement here Wednesday. As a result, by the end of the quarter under review (Q1), the total number of employees in the company and its subsidiaries worldwide stood at 75,971, compared to 58,409 a year ago and 72,241 a quarter ago. The attrition rate during the last 12 months has gone up marginally to 13.7 percent in Q1 from 11.9 percent in the same quarter a year ago. "Our investments in training and education are giving us enhanced capabilities to make our clients more competitive and meet our growth objectives," Pai claimed. Of the total headcount, 71,018 are software professionals, including 63,895 billable and 5,070 trainees. There are 1,859 lateral employees. In terms of utilisation rate, the percentage has declined to 73.9 percent from 76.1 percent a year ago, excluding trainees. Of the total software professionals, 73.7 percent are deployed offshore and 26.3 percent onsite. "Revenues from our onshore-offshore operations continue to remain in the same range (49-50 percent) as in the last four quarters, with offshore slightly higher," Pai added.
Source: IANS
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