Infosys to hire more freshers; speaks about layoff!

Infosys is planning to hire freshers to minimise employee expenditure as they are on cost cutting measures and are planning to reduce up to US$100 to US$150 million in Financial Year 20.

The company is now looking to cut the cost as they have concluded large parts of their investments.

"There are 21 tracks we are looking at for cost-optimisation. We are targeting $100-$150 million in cost savings as the year goes on," said Infosys CFO Nilanjan Roy.

"It was also looking to recreate the pyramid onsite through fresher hiring," he added, mentioning that they have become barrel shaped and they are planning to better up their bottom-end.

"There is no planned layoff. We have performance reviews and people who are not performing are asked to leave. This is normal, there is no targeted layoff," said COO Pravin Rao.