Infosys on a hiring spree in U.S., China and overseas market
By
siliconindia | Wednesday, 04 May 2011, 13:23 IST
Bangalore: India's second largest Software exporter, Infosys
technologies, has planned a hiring spree for skilled work force in U.S., China and other overseas market. This announcement comes in order increase the employee turnover and also to enhance the profit department of the company.
After earnings missed estimates for a third time in four quarters and employee attrition worsened, the Bangalore-based company decided to expand its overseas recruitment. Attrition rate at Infosys accelerated to 17 percent in the year. In order to keep the attrition level down Infosys overseas employees in the current year may see an increase in wage of 1 to 2 percent, whereas staff within the country may witness an increase of 12 percent.
The company is expected to see major recruitments from Philippines, China, Czech Republic and Brazil. Apart from these centers Mexico is also expected to experience some addition of new employees since it is a very good place to have a near-shore center for the U.S.
The newly appointed CEO of the company, S.D. Shibulal said in an interview on May 1st, that Infosys wants to create global footprints as most of its customers are based global.
Hitesh Shah, Vice President of Research at IDFC Securities in Mumbai said that, a lot of work would become easy and cost would go down if the same kind of work value could be provided in the overseas markets as well. And the importance of the work is best realized when the work needs to be delivered from close points to clients premises.
Apart from the decision of major hiring, Shanghai campus will be getting an investment of $130 million. Over a period of 18 months it also plans to hire 4000 employees.
China is one of the potential hubs for Infosys which produces good number of engineering graduates. At present Infosys has 3000 employees working in China.