Infosys reported an attrition rate of 16.9 per cent for the quarter ended June 2013, up from 14.9 per cent in the year-ago period.
The quarter saw a net addition of a meagre 575 employees, down by nearly two-thirds compared to the first quarter last year. Lateral hires are also down to 3,008 from 5,233 last year (quarter ending June).
Infosys CEO and MD S.D Shibulal attributed these high numbers to the nature of the quarter, when a large number of employees leave for higher education. Even by these standards, other Infosys officials conceded that the number was well above the quarter’s average of 14 to 15 per cent. Attrition for the financial year 2012-13 was also high at 16.3 per cent, compared to 14.2 per cent last year. Mr. Shibulal also said that employee utilisation rate was up from 67.2 per cent to 72.4 per cent, compared to the same period last year.
