Financial Daily from THE HINDU group of publications
Wednesday, Apr 14, 2004
Financial Daily from THE HINDU group of publications Wednesday, Apr 14, 2004 |
||
|
|
||
|
Info-Tech
-
Software Infosys to add 10,000; hike capex Our Bureau
Bangalore , April 13 INFOSYS Technologies expects to sustain its hiring momentum in the current fiscal. The company plans to add about 10,000 people during the year, said Ms Hema Ravichandar, Senior Vice-President (Human Resources). Last fiscal, the company added 9,758 people on net basis taking its overall head count to 25,634. During the June quarter, the company plans to hire close to 2,000 people, Ms Ravichandar said. The company also plans to raise its capital expenditure in the current financial year to between Rs 600 crore and Rs 750 crore, said its CEO, Mr Nandan Nilekani. The previous year's capital expenditure stood at Rs 430 crore. As on March 31, Infosys had office space capable of accommodating 22,730 people. The company has an additional 21,98,000 sq feet under completion capable of accommodating 8,400 people this year. The company expecteds a 17-per cent average wage increase in fixed terms for the current fiscal, Mr Nilekani said. The company has also issued a one-time bonus of $1,000 per employee, which entails an outgo of close to $23 million (around Rs 100 crore) and this has been factored into the forecast. For FY04, the company's attrition rate stood at 10.5 per cent, up from seven per cent in the previous year. Infosys' officials claimed that its attrition rate was lower than the industry average of 17 per cent in FY04. "The attrition rate was reasonable in the current environment and we anticipate people coming back to us," Mr Nilekani said.
More Stories on : Software | Human Resources
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2004, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|