Infosys cuts hiring in first quarterJuly 12th, 2012 - 1:51 pm ICT by IANS
Bangalore, July 12 (IANS) In a reversal of trend, Infosys Ltd. hired less employees in first quarter (June-April) of 2012-13 fiscal than in the fourth quarter (January-March) of the last fiscal due to negative growth in business and lower revenue forecast.
In a regulatory filing Thursday, the IT bellwether said gross addition for the quarter under review (Q1) was 9,236 as against 10,676 in the last quarter (Q4) and 9,922 a year ago.
With a whopping 8,079 employees leaving the company during the quarter as against 5,770 in fourth quarter and 7,182 year ago, net addition declined to 1,157 from 4,906 in last quarter and 2,740 a year ago.
As a result, the parent company’s employees’ strength marginally increased to 151,151 from 149,994 sequentially and 133,560 a year ago.
Attrition rate increased to 14.9 percent sequentially from 14.7 percent but declined from 15.8 percent a year ago.
Among its eight subsidiaries in India and overseas, its business process outsourcing (BPO) operations hired 1,798 people, taking its headcount to 22,321 in first quarter (Q1) from 20,523 in last quarter (Q4) and 18,816 year ago.
The company’s Australian subsidiary, however, hired only two persons as against 674 in previous quarter and 539 year ago. Hiring also declined marginally in its Chinese subsidiary to 3,030 from 3,092 last quarter but up from 2,945 a year ago.
- Infosys to hire 35,000 techies this fiscal - Apr 13, 2012
- Infosys lowers guidance for fiscal 2013 (Lead) - Apr 13, 2012
- Infosys to hire 45,000 techies this year - Jul 12, 2011
- Infosys beats guidance but stock dips on muted earnings - Jul 12, 2011
- Wipro's IT outlook remains flat on marginal growth (Lead) - Jan 20, 2012
- Infosys loses more techies than it hired in Q3 - Jan 13, 2011
- Wipro battles to grow in volatile market (Lead) - Jul 24, 2012
- Infosys beats guidance, revises outlook again - Oct 12, 2011
- Infosys profits from weak rupee, lowers dollar guidance (Lead) - Jan 12, 2012
- Infosys returns to double-digit growth, ups guidance again (Lead) - Oct 15, 2010
- Wipro looks for growth in new geographies (Second Lead) - Jul 24, 2012
- Economic recovery triggers more hiring by Infosys - Jan 12, 2010
- Infosys on hiring spree as attrition climbs up - Oct 15, 2010
- infosys revenue guidance dips on negative growth (Lead) - Jul 12, 2012
- Wipro sees higher IT revenue in Q3 on strong growth - Oct 22, 2010