35,000 college grads to be hired by Infosys for FY22

In the June quarter, voluntary attrition in Infosys’ IT Services surged to 13.9 percent against March quarter’s 10.9 percent.

Bengaluru-based Infosys’ Chief Operating Officer (COO) Pravin Rao has announced the company’s plans to hire 35,000 college graduates globally due to the increased demand for digital talent and that “rising attrition in the industry poses a near-term challenge.”

The COO added, “We rolled out several intense employee engagement initiatives including career acceleration opportunities, compensation reviews, and learning & development interventions.”

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On Wednesday, the multinational IT company reported a 22.7 percent rise in quarterly profit with a soared consolidated net profit of ₹5,195 crore in the three months of June 30, from a year earlier and revenue from operations jumped 17.9 percent to ₹27,896 crore at the same time.

Meanwhile, Rao also talked about the support received for the multiple initiatives by their clients. He said, “They value the delivery commitments we have met even during these extraordinary times.”

On Bombay Stock Exchange (BSE), the IT major’s shares closed 2.07 percent higher at ₹1,577 along with finishing at ₹2.1 percent up at ₹1,577.4 on the National Stock Exchange (NSE).

Infosys’ rival and India’s biggest IT company, Tata Consultancy Services (TCS), with a base of over 5 lakh employees, had said that it would hire more than 40,000 freshers. In the year 2020, it had hired 40,000 college graduates.

Earlier in the week, an increase of 29 percent in quarterly profit was recorded by TCS as the demand for cloud services has intensified along with its strong growth in the mainstay banking and finance business.