The firm ended FY24 with 25,994 fewer employees compared to FY23, which it had ended with 343,234 employees, even as revenue grew 1.4% year-on-year in constant currency. This is the first time the company has reported a dip in headcount in over two decades.
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The company’s headcount decreased by 5,423 over the fiscal third quarter. It concluded the fiscal year ended March at a total employee count of 317,240.
Also read | Infosys Q4 Results: Profit jumps 30% YoY to Rs 7,969 crore; co sees FY25 revenue growth at 1-3%
By contrast, the company had seen an addition of 21,219 in FY23 over the previous fiscal.
In the third quarter of FY24, Infosys had recorded a sequential headcount decrease of 6,101. The fourth quarter in the year-ago period had seen a sequential dip of 3,611.
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“Our hiring model has changed significantly in the last few quarters… We are now on a more agile model of campus hiring,” said Jayesh Sanghrajka, adding that the company has not decided on the campus hiring numbers at this point. Infosys chief financial officer Nilanjan Roy quit in December, following which deputy CFO Jayesh Sanghrajka was appointed to the role effective April 1, 2024.
