Infosys CEO Salil Parekh has stated that the company will honor the offers extended to freshers, with joining to follow, although there have been some changes in the dates.
The remarks made by the CEO of Infosys become more important in light of rumors that the company has postponed hiring 2,000 recent engineering graduates from the 2022 class.
“Every offer we have extended will result in someone joining the company. We’ve adjusted some dates, but beyond that, everyone will join Infosys, and our approach remains unchanged,” Mr. Parekh told PTI when asked about the reported delays in onboarding 2,000 fresh engineering graduates over the past two years.
As of June 2024, the IT company, with its headquarters in Bengaluru, employed 3.15 lakh people altogether.
The Ministry of Labour and Employment has received a complaint from the IT and ITES union Nascent Information Technology Employees Senate (NITES) accusing Infosys of postponing the onboarding of 2,000 recent engineering graduates who were chosen for roles as digital specialists and system engineers during the 2022–2023 recruitment drive.
“These graduates have endured unpaid pre-training programs, unforeseen additional examinations, and ongoing delays in the onboarding process, even after receiving offer letters as early as April 2022. These experts have been left in limbo for over two years, even though they have complied with all standards,” NITES stated.
Infosys had previously stated that, based on growth over the course of the year, it plans to hire between 15,000 and 20,000 freshmen.
With a 7% increase in consolidated net profit of ₹6,368 crore and an improved growth estimate for the full fiscal year, Infosys exceeded expectations with its Q1 report card this time around. After initially projecting sales growth of 1% to 3%, the company increased its projection to 3% to 4% for the current fiscal year.
The company’s workforce decreased by around 6% from 3,36,294 employees in the June 2024 quarter to 3,15,332 employees. From 3,17,240 in the prior quarter, there was a little decrease in the headcount.
The company has raised the employee utilization rate to 83.9% from 78.9% year-over-year.
“Our utilization rate is already at 85%, leaving us with limited capacity. As we begin to observe growth, we plan to hire 15,000 to 20,000 freshers this year, depending on how the growth progresses,” stated Infosys Chief Financial Officer Jayesh Sanghrajka during the company’s Q1 results.