Homebusiness Newscompanies News

    Infosys Q4 Results: Attrition rate climbs 2.2 points to 27.7%; 22,000 employees hired in quarter

    business | IST

    Infosys Q4 Results: Attrition rate climbs 2.2 points to 27.7%; 22,000 employees hired in quarter

    Mini

    In its quarterly earnings report, Infosys said it added 21,948 employees to its workforce in the final quarter of the financial year 2021-22, taking the total headcount to 3,14,015 globally. Further, the software giant said it added 85,000 freshers to its payroll in FY22.  

    Indian software major Infosys on Thursday reported a 2.2 percent quarterly increase in its attrition rate. In its earnings report for the quarter ended March 31, 2022, Infosys reported an attrition rate of 27.7 percent as against 25.5 percent reported in the previous quarter.
    This was a massive 16.8 percent jump year-on-year -- in the correspondent quarter the previous fiscal, the attrition rate had stood at 10.9 percent.
    In the report, Infosys said it added 21,948 employees to its workforce in the final quarter of the financial year 2021-22, taking the total headcount to 3,14,015 globally. Further, the software giant said it added 85,000 freshers to its payroll in FY22.  The company plans to add 50,000 this fiscal and has planned salary hikes this month.  
    Of its total workforce, software professionals comprise 2,97,859, while 16,165 offer sales and support services. This was an increase of 20,917 and 1,031, respectively. Women employees comprised 39.6 percent of the workforce, the same as the previous quarter and a 1 percent increase YoY, the report stated.

    Also read:

    “With the acceleration of digital disruptions across industries, we see immense potential to engage and partner with clients as they transform, adapt and thrive. We will scale talent globally, invest in employees and accelerate innovation and digital capabilities to capitalize on the expanding market opportunities," Infosys CEO & MD Salil Parekh said.
    Sandip Agarwal, Research Analyst, Institutional Equities at Edelweiss Securities, said the attrition was a problem of supply. "Attrition will surprise negatively for every company and everyone and the reason is that there is no real supply coming in. It's just poaching -- from one company to another -- and that is the reason we are in this situation," Agarwal said.
    Infosys was not the only software major to report a higher attrition -- Tata Consultancy Services, which announced its results on Tuesday, reported an increased attrition of 17.4 percent, which it said was higher than the previous quarter.
    Meanwhile, in the fourth quarter ended March 31, 2022, TCS witnessed the highest-ever employee additions. Net additions in the quarter stood at 35,209 employees, which took the total employee headcount to 592,195. During the year, net addition of employees at TCS stood at an all-time high of 103,546.
    Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
    next story

      Most Read

      Market Movers

      View All
      CompanyPriceChng%Chng