Infosys Headcount Falls By 25,994 In FY24, First Yearly Decline in Employees Since 2001 – News18

IT major Infosys’ headcount declined 25,994 during the financial year 2023-24. This is for the first time in at least 23 years since 2001 when the headcount has declined in a full financial year.

As on March 31, 2024, Infosys’ total headcount stood at 3,17,240, which is a 7.5 per cent decline as compared with the total number of employees a year ago. The total number of employees at Infosys was 3,43,234 as on March 31, 2023, and 3,22,663 as on December 2023.

On a quarter-on-quarter basis also, Infosys added 5,423 fewer employees, a fall for the fifth consecutive quarter.

Its attrition rate on a last twelve-month basis, however, also declined to 12.6 per cent, compared with 12.9 per cent in the previous quarter.

IT major Infosys on Thursday posted a 30 per cent year-on-year jump in its net profit to Rs 7,969 crore for the fourth quarter ended March 2024 quarter. However, its revenues during January-March 2024 rose just 1.3 per cent YoY to Rs 37,923 crore, compared with Rs 37,441 crore a year ago.

Infosys’ net profit had stood at Rs 6,128 crore in the corresponding quarter last year.

On a year-on-year basis, Infosys’ revenue declined 2.3 per cent during the March 2024 quarter to Rs 37,923 crore, against Rs 38,821 crore in the previous December 2023 quarter. Its net profit jumped 30.5 per cent sequentially.

Meanwhile, kickstarting the Q4FY24 earnings season, India’s largest IT services company TCS on April 12 reported a 9.1 per cent growth in its March quarter net profit at Rs 12,434 crore. In the fiscal year 2023-24, the company’s net profit grew 9 per cent to Rs 45,908 crore, as per an exchange filing.