Infosys delays start-dates for new hires as slowdown bites-report

INFOSYS-INDIA-HIRES:Infosys delays start-dates for new hires as slowdown bites-report

 

REUTERS - Infosys Ltd is delaying taking on board some of its planned 28,000 new recruits until mid-2013, underlining the slowdown faced by India's No 2 software services company, the Economic Times reported on Monday.

Engineering graduates who were offered jobs from campus placements between August and September last year have started to receive joining dates from September this year to as late as after mid-2013, it said.

"Based on business imperatives and manpower requirements, we expect onboarding of fresh hires to be completed by the first quarter of fiscal 2014 (which ends in June)," the newspaper quoted Infosys as saying in an email. The company's financial year runs from April to March.

 

An Infosys spokeswoman was not immediately available for comment.

Infosys , which is also listed on Nasdaq, disappointed investors in April with a weaker-than-expected revenue growth outlook due to an uncertain global economy.

The result sparked worries about the prospects for the country's $100 billion outsourcing sector, which is facing slowing demand from western clients, intense competition from global rivals and volatile currency markets.

(Writing by Ranjit Gangadharan in MUMBAI; Additional reporting by Harichandran Arakali in BANGALORE; Editing by Richard Pullin)