Infosys to Hire 20,000 New Graduates
Hiring across software companies has slowed in recent quarters alongside the rising adoption of Artificial Intelligence (AI). However, entry-level IT jobs remain largely unaffected by AI. Infosys, the country’s second-largest software maker, has announced plans to hire approximately 20,000 fresh graduates this financial year. The company has ramped up its investments in AI over the past few years and notes that AI has boosted productivity in recent quarters.
During the announcement of the first-quarter results for the current fiscal year, Infosys CEO Salil Parekh stated that campus recruitment would continue despite business improvements driven by AI. Parekh said, “Last fiscal year, the company recruited 20,000 college graduates. We plan to hire another 20,000 graduates this year as well. Over 4,000 graduates were recruited in the first quarter.” He highlighted that AI has enhanced productivity within the company over several recent quarters.
Infosys is seeing positive results from its AI strategy, with AI-related services driving double-digit growth. In the last quarter, AI-related services accounted for approximately 8.2 percent of the company’s total revenue. The Infosys workforce saw a net reduction of 532 employees last quarter; the company currently employs around 3.28 lakh people. For the quarter ending in June, Infosys’s net profit fell by approximately nine percent quarter-on-quarter to around ₹7,769 crore. This marks the second-largest decline in the company’s profit over the past eight quarters. However, on a year-on-year basis, Infosys’s consolidated net profit rose by approximately 12 percent. In the last quarter, Infosys’s revenue from operations grew by approximately 14 percent year-on-year. The company’s revenue for the June quarter stood at ₹48,211 crore, compared to approximately ₹42,279 crore in the same quarter of the previous year. Infosys has announced that it will soon increase employee salaries. The company also stated that it is exploring opportunities in segments such as healthcare to expand its business.
