The Hindu Business Line : Infosys maintains hiring guidance for this fiscal

Bangalore, Oct. 10 Infosys Technologies maintained that its hiring plans for the fiscal were intact even as it lowered its revenue estimate for the full year partly because of a slower business environment, while its overall headcount crossed the one-lakh mark during the quarter.

Infosys on Friday became the second Indian IT vendor after largest exporter TCS to have over a lakh employees on its rolls. The company added 10,117 employees on a gross basis in the September quarter, while net additions stood at 5,927.

“We will maintain the hiring guidance of 25,000 for the year,” said Mr T.V. Mohandas Pai, Head of Human Resources at Infosys. The company would add another 4,500 employees in the December quarter.

Infosys has already absorbed 11,700 of the 18,000 campus offers made for the year. “We will be sending out joining letters to the remaining students starting next week,” Mr Pai said.

The current slowdown has lowered salary expectations among employees, which is a good thing for the industry, Mr Pai said. Next year could see a sea change in hiring pattern as manufacturing companies could become attractive for engineering students, he said.

Focus on Europe

Infosys said it would continue to grow its presence in Europe. “There is a lot of headroom in Europe in spite of the fact that the current situation would impact Europe,” said Mr Balakrishnan, Chief Financial Officer. Europe is yet to consolidate its service offering and outsource them in the way US has done, and the therefore, the company sees room for growth, he added.

Mr Gopalakrishnan said the company would like to have 40 per cent of its business from the US, 40 per cent from Europe and 20 per cent from the rest of the world. To achieve this, Europe and the other geographies must grow faster. This is what Infosys is trying to do by increasing its focus on geographies such as China, India, Japan, West Asia, Europe, Australia, and Latin America.

Infosys also hopes to gain from the consolidations in the US financial market. “We seem to be on the good side,” said Mr Ashok Vemuri, head of BFSI practise.

The consolidations bring in new opportunities such as post merger integration work, although there might be shrinkage in the number of clients, he said. None of our clients have faced solvency issues though some of them have faced liquidity issues.

Mr Gopalakrishnan said he expects technology spending to increase in the medium to long-term as companies would continue to focus on IT to improve productivity.

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