Infosys delays joining dates for engineers hired from campuses as slowdown bites - The Economic Times: "
Engineering graduates who were offered jobs at campus placements in August-September 2011 have started receiving their joining dates, which extend anywhere from September 2012 to July 2013.
"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)," Infosys said in an emailed reply.
For a company struggling to match industry growth rates, this may erode its perception on campuses besides raising further investor scrutiny, at a time it is seeking to pursue a changed strategic direction with higher focus on software products and business platforms. Infosys has also temporarily frozen salaries for its 1.5 lakh staff and cut variable pay.
After sales shrunk 2% in the March quarter from three months ago, Infosys expects flat sales growth in the three months to June. For the full year, it expects to grow 8-10%, which is lower than the 11-14% sector growth forecast by industry body Nasscom or the 20% forecast from Cognizant."
Engineering graduates who were offered jobs at campus placements in August-September 2011 have started receiving their joining dates, which extend anywhere from September 2012 to July 2013.
"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)," Infosys said in an emailed reply.
For a company struggling to match industry growth rates, this may erode its perception on campuses besides raising further investor scrutiny, at a time it is seeking to pursue a changed strategic direction with higher focus on software products and business platforms. Infosys has also temporarily frozen salaries for its 1.5 lakh staff and cut variable pay.
After sales shrunk 2% in the March quarter from three months ago, Infosys expects flat sales growth in the three months to June. For the full year, it expects to grow 8-10%, which is lower than the 11-14% sector growth forecast by industry body Nasscom or the 20% forecast from Cognizant."
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