An Indian multinational information technology company, Infosys stands apart from industry trends triggered by GenAI, refraining from job reduction or any form of job cuts seen elsewhere.
The company maintains a steadfast commitment to its workforce, ensuring stability amidst technological shifts.
This strategic approach underscores Infosys’ resilience and dedication to fostering a supportive environment amid evolving technological landscapes.
CEO Salil Parekh told CNBC-TV18, “No, we are not doing any of that. Others in the industry have done that. We’ve been very clear that that’s not the approach.”
“Over the next several years, we’ll have more and more people joining us who become experts in generative AI and we will be serving the world’s large organizations”, he informed CNBC-TV18.
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Infosys’ hiring outlook for FY25 is described as agile by Parekh, indicating flexibility based on the economic environment and digital transformation spending. Although no annual hiring target has been set, hiring is expected to resume as conditions improve.
In October 2023, Infosys announced it would not hire from campuses due to a substantial number of freshers already in training for generative AI and other technologies.
This decision, explained by then CFO Nilanjan Roy, reflects the company’s strategy to optimize its existing talent pool rather than bringing in new graduates at that time.
In Q4FY24 and FY24, Infosys witnessed decreased hiring compared to previous quarters and fiscal years, reflecting a shifting trend.
Despite a 1.4% year-on-year revenue increase in constant currency. In Fiscal Year 24, the company’s headcount dropped by 25,994 as of the Quarter ended Mar 31, 2023, the headcount was 343,234 and as of Quarter ended Mar 31, 2024.
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