Infosys opts out of campus recruitment

Infosys Technologies will delay its visit to campuses for recruitment this year. The software major normally starts the recruitment process during April or May.

Infosys Chief Executive Officer and Managing Director S Gopalakrishnan said today that the company might consider taking some people towards the end of the second quarter of the financial year 2009-10.

The company has put a freeze on fresh recruitments after meeting this financial year’s target of hiring 25,000 people, but has said it will honour its commitment of hiring 18,000 campus students who pass in July 2009.

Gopalakrishnan also said that young graduates should look at other sectors too apart from IT, at least for the next two years as it would take the IT sector some time to recover.

Interacting with the media on the sidelines of a session on South India@75, organised by the Confederation of Indian Industry at Hyderabad, he also added that there would be muted growth in the salary structures of the workforce this year. “There would not be any cut in the salaries. The top leadership of the company has already taken a 40 per cent cut in the variable pay,” said Gopalakrishnan.

During the boom and due to higher attrition rate, Indian IT companies hired engineering students a year before they graduated. But with the deal pipeline thinning, many of the companies have shifted to just-in-time hiring.

Nasscom, the industry body, recently said that IT companies should hire only in the eighth semester of an academic year. The advisory was put out after consulting IT companies as well as all the top academic institutes.