Infosys CEO Salil Parekh stated that the company does not plan to alter its hiring plans for the current financial year and will continue to make strategic investments in its workforce to equip the company for artificial-intelligence (AI)- driven changes.  

The country’s second-largest Information Technology (IT) provider’s remarks came after Tata Consultancy Services (TCS) – India’s largest IT service provider stirred the industry with its decision to cut over 12,000 jobs, accounting for 2% of its workforce. The layoffs are in response to the company’s decision to make it “more agile and future-ready”, aligning with changes driven by the company's transition to AI. 

However, Parekh, in an interview with The Times of India, reportedly said that Infosys has recruited nearly 17,000 new employees in the first quarter and is in the process of hiring 20,000 freshers this year, according to a report by MoneyControl. 

Reportedly, he further added that the company is stressing on its reskilling programme for its employees, with over 2,75,000 already trained. He said that the company is stressing on AI transformation and believes that the reskilling efforts are aimed at offering new opportunities for the workforce. 

Parekh further pointed out that it is “critical to invest” in newer technologies and that the company stresses “internal efficiency” to accomplish its targets without “major disruptions”.  

He also said that the company’s growth will be resounding in the future once stability returns to the ongoing global issues, particularly in the US and Europe. 

According to a Bloomberg poll of brokerages, Infosys’ net profit stands at Rs 6,778 crore and revenue at Rs 41,724 crore for the June quarter.