Infosys’s Recipe To Save Money: Reduce Senior Level Jobs, Hire More Freshers, Associates
News comes in from the Bengaluru-headquartered IT services exporter Infosys. It has been found that the IT giant has registered a downfall in the positions filled in the top and senior-level scales, during the previous financial year.
However, with this decline in the higher level positions in the organisation, Infosys has also registered a surge in the number of mid and associate level positions.
This points out the Bengaluru-headquartered IT services exporter’s strategy of hiring more people at lower costs.
Infosys Hires Lower High-Level Personnel
In its most recent sustainability report, Infosys showed results that the number of top-level employees fell by 5%, to 926 positions in the fiscal year 2020, as compared to fiscal year 2019.
At the same time, the number of senior-level employees also fell down to 30,013.
It was reported last year that Infosys was looking forward to save costs by $100-$150 million in the fiscal year 2020.
It had decided and sorted to hire freshers to reduce employee costs and rejigging roles for middle and senior management.
In fact, it can be seen that the number of top-level employees grew by 7%, senior-level employees by 11%, while middle-level employees showed an exemplary increase in number by over 25%, from fiscal year 2018 to 2019.
On the other hand, associate-level employees fell by 2%.
Infosys Hires More Low-Level Employees
In an attempt to save costs of the company, Infosys decided last year to hire more people at lower costs.
The number of employees in mid-level positions went up 4% to 115,277 and associate-level positions, at the bottom of the organization, grew about 9% to 94,584 in the last financial year.
However, in unlike 2018, 2019 saw all top, senior and middle-level employees growing in numbers, as compared to the fiscal year 2018 and associate-level positions actually showed a downfall.
Infosys also provided with the information that it had 17,709 employees on its payroll in the Americas, which rose by 13% from last year, and 74% higher as compared to levels in 2018.