Infosys is to focus on recruiting recent graduates and relatively inexperienced new staff members in a bid to reduce its overheads and boost its profitability. The Bangalore-headquartered IT consulting and outsourcing giant announced its change in tack amid news of a range of senior-level layoffs and anonymous allegations of unethical practices at the 38-year-old business. According to Nilanjan Roy, the firm’s Chief Financial Officer, the revised employee priorities are part of a raft of moves designed to deliver savings of up to US$150m in the current financial year, while investments are also being prioritized as a means of further fueling growth. In more specific term,
Roy said 21 cost-optimization measures were under active consideration, including improving the targeting of less well-off consumers and recruiting staff with lower salary expectations. According to a number of industry sources, Infosys’ cost-savings plan is in no way exceptional and represents relatively standard business practice. In a separate move, the company has denied it has a hitlist of senior staff it intends to dispense with. Clarifying this, Chief Operating Officer U.B Pravin Rao said several employee reviews are currently being conducted and under-performing staff may be asked to leave as a result.