There were a lot of shocking numbers in Infosys' quarterly earnings. But one that stands out the most is the 14.9 percent attrition rate-this is even given that an industry facing a slowdown typically records low attrition figures. An Economic Times report suggests that close to 8,000 employees left Infosys in the past three months mainly due to wage-hike issues.
An earlier Business Standard report in May said that the number of Infosys employees looking to move was on the rise. That report had signaled this announcement in May.
Ajit Isaac, MD and CEO at Ikya Human Capital Solutions, a Bangalore-based recruitment agency also suggested that the company said that the company might have laid off level 3 and level 4 (junior employees) since their utilization rate, or employees working on live projects was close to 67 percent. "In the next few quarters, IT attrition will come down because of the slowing demand. I believe that a company like Infosys will recover from this," he told Firstpost.
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Updated Date: Dec 20, 2014 10:21:21 IST