Infosys reports drop in hiring for fifth straight quarter in Q4

India’s second largest IT exporter Infosys on Thursday reported a drop in hiring in the fourth quarter of fiscal 2023-24 as well as the full fiscal year 2023-24.

The firm ended FY24 with 25,994 fewer employees compared to FY23, which it had ended with 343,234 employees, even as revenue grew 1.4% year-on-year in constant currency. This is the first time the company has reported a full-year dip in headcount in over two decades.