Infosys, the second largest software service company, India, is facing attrition concerns. It lost a slew of senior executives in the recent past.
In the December quarter, Infosys’s employee attrition rate increased to 18 percent, the highest among tier-1 software firms, from 17.3 percent in the September quarter.
Over the past seven months, Infosys lost at least nine senior-level executives, including board member V Balakrishnan and global manufacturing head Ashok Vemuri. Balakrishnan is joining Aam Admy Party in Bangalore. Ashok Vemuri joined iGate.
At the end of the third quarter, Infosys said it had 158,404 employees, adding 6,682 employees during the quarter. The Bangalore-based company had 135,869 billable employees during the three months up to December 31.
“During the quarter, we saw early but promising results of our initiatives to increase efficiency in our operations. We continue to remain focused on making investments necessary to secure and grow our future,” said Rajiv Bansal, chief financial officer of Infosys.