In a first, IT services major Infosys sees a drop in net headcount

Infosys’ headcount for Financial Year 2024 was down by 25,994 employees, making it the first-ever decline in headcount for the Bengaluru-based IT services major since at least 2001.

The total headcount for FY24 stood at 317,240, down 7.6 per cent from 343,234 employees in the previous year. On a quarterly basis too, Infosys added 5,423 fewer employees, a drop for the fifth consecutive quarter.

The attrition rate for Q4 was down 830 basis points to 12.6 per cent from 12.9 per cent in the preceding quarter, a trend seen across the IT services sector.