India’s second-largest software services firm, Infosys has reported a drop in attrition rate and plans to hire 50,000 freshers across multiple locations in India by FY23.
Infosys Ltd on Thursday reported a drop in its attrition rate to 11.1 percent in the third quarter that ended December 31, down from 11.6 percent in the previous three months and 12 percent in the April-June period. The company will hire 50,000 freshers by the fiscal year 2022 which begins on April 1 this year.
A net addition of more than 50,000 freshers is on the cards for Infosys by the end of the fiscal year 2022. This is in line with the company’s strategy of leveraging technology to improve employee productivity and also offsetting attrition. The Bengaluru-based firm has just reported a drop in attrition rate as compared to previous quarters.
Infosys’ attrition rate has been on the decline in recent quarters and stands at 7.9% for the third quarter that ended December 31, down from 9% reported in the previous quarter. The company has also announced plans to hire 50,000 freshers in FY2023. Infosys has reported a drop in employee attrition rate and workforce hiring intentions, while also disclosing its intention to hire 50,000 freshers over the next two years. Infosys, a global leader in technology and consulting, has reported a decline in attrition rate over the last quarter. Infosys will hire 50,000 freshers in FY2023. The company aims to build its workforce by 15% to meet the demand for talent and technology.
The new graduates will begin working at Infosys from April 1, 2024, onwards and they will be on campus for 3 months. Infosys has also announced that it is planning to hire 50,000 freshers over the next two years.
The attrition rate at Infosys has dropped to 14.6% in the July-September quarter (Q3) and will hire 50,000 freshers by FY23, while the company plans to invest Rs 2 lakh crore in setting up seven technology centers in India over the next 1-2 years.
Infosys has revealed that its attrition rate has fallen in Q3 and the company is looking to employ 50,000 freshers by fiscal year (FY) 23. The hiring drive aims to fill over 3,000 jobs annually in India and abroad. Infosys, one of India’s largest IT firms is looking to hire over 50,000 freshers in the next two years. The company also said that it has reduced its attrition rate to 14.9% in Q3 FY23 from 17.2% in Q2 FY23 and 20.1% in Q1 FY23.
The IT major’s attrition rate has declined over the past two years and is now at 9.7 percent compared to 10.3 percent during the same period last year. In an official statement, Infosys said it had hired about 50,000 freshers in the past four quarters. This is the highest number of hires in a single year by any Indian IT firm in recent years.
Infosys attrition rate drops in Q3, to hire 50,000 freshers by FY23 Infosys said it expects to hire 50,000 freshers by March 2023. The company added that its attrition rate has reduced from 13.7% in Q3FY20 to 13.2% in Q2FY21 and 12.6% in Q1FY21.
Infosys, India’s second-largest IT services firm, has announced a drop in attrition rate for the first nine months of FY23 (FY22: 17-18%) and said it will hire 50,000 freshers by FY23.
The Indian software major is expected to hire 50,000 freshers by FY23, with a focus on technology and domain skills.