Infosys has let go of employees working for two companies: Parekh | The Financial Express

Clipped from: https://www.financialexpress.com/industry/infosys-has-let-go-of-employees-working-for-two-companies-parekh/2709778/

Infosys added 10,032 employees to take its total headcount to 345,218 at the end of the September quarter. That compares with Wipro adding 605 employees, Tata Consultancy Services (TCS) adding 9,840 staffers and HCLTech adding 8,359 people.

Infosys has let go of employees working for two companies: Parekh“We’re also developing comprehensive policies on that front while ensuring that contractual and confidentiality commitments are fully respected,” he added.

Reiterating its stance against moonlighting, Infosys chief executive officer and managing director Salil Parekh said that over the past 12 months, the company has let go of employees who were found to be working for two companies, but did not reveal the exact number.


He said while the company was against the idea of dual employment, it provided gig work projects within the organisation, under its Accelerate programme. As part of the programme — which Parekh said has existed for several years — employees are free to take up additional work at work or even outside, to grow, after prior approval from managers.

“To be clear, we do not support dual employment. If we’ve found in the past employees who are doing blatant work in two specific companies, where there is confidentiality issues, we have let go of them in the last 12 months,” Parekh said at a press briefing.

Also Read: Q2FY23 results: IT pack turn in good numbers, cautious on global macros

“We’re also developing comprehensive policies on that front while ensuring that contractual and confidentiality commitments are fully respected,” he added.

Infosys added 10,032 employees to take its total headcount to 345,218 at the end of the September quarter. That compares with Wipro adding 605 employees, Tata Consultancy Services (TCS) adding 9,840 staffers and HCLTech adding 8,359 people.

In the first half of this fiscal, Infosys said it added about 40,000 new employees and signalled it could add more than 50,000 employees in all of FY23, a number that it had earlier projected. In FY22, Infosys hired 85,000 freshers, about 2.2X of the hiring in two years.

Infosys’ attrition rate has also been on a decline, as is broadly the case in the IT industry, thanks to a high base. In the September quarter, Infosys’ attrition fell to 27.1% from the June quarter’s 28.4%. It was however elevated when compared with 20.1% from September last year.

“While supply side challenges are gradually abating as reflected in the reducing attrition rates, they continue to exert pressure on our cost structure,” chief financial officer Nilanjan Roy said.

TCS’ attrition came in at 21.5%, HCLTech at 23.8% while Wipro’s stood at 23% during the quarter.


Infosys is the latest to hop on to the bandwagon of large information technology (IT) companies opposing the idea of employees working for competitors. Last month, Wipro chairman Rishad Premji said the company had fired 300 employees because they were found working with direct competitors.

HCL Technologies too said it opposed the idea and expected employees to respect their employment contracts.

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