Infosys will not be hiring freshers from college campuses this year because it has a large pool of “significant fresher bench” amid a demand decline in key markets such as the US.
According to reports, after hiring over 50,000 recent graduates last year, the company has decided to stop hiring freshers from college campuses this year because it wants to make better use of its current workforce.
Nilanjan Roy, Chief Financial Officer of the Bengaluru-based IT giant, stated during the second quarter earnings call that the company currently has a significantly fresher bench and there is room for enhanced utilisation.
Roy quoted, "Last year, the company hired 50,000 freshers and hired ahead of demand...we still have a significant fresher bench to train. We are training them on Gen AI, SAP etc., but we still have a way to go on utilisation, and at the moment, we are not going to campuses yet...we will monitor this every quarter looking at our future projections."
Further, he added the company is still committed to honouring all job offers extended and onboarding graduates as per the availability of projects.
The Indian software company lost 7,530 employees in the September quarter, the third quarter in a row that its headcount has shrunk.
Also, The company announced that wage hikes are currently being implemented and will be delivered to all employees from November 1.
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