Infosys seeks to cut temp hiring from third-party contractors
Infosys Ltd is looking at reducing the number of engineers deployed by its subcontractors on overseas projects to meet its profitability target as hiring these temporary workers is at least one-and-a-half times more expensive than using its own employees in a similar project. Infosys plans to deploy its own employees on new projects after imparting them with skills that they earlier lacked, a reason India’s second largest software exporter was forced to rely on outside resources. The move is likely to assuage investors’ concerns that Infosys, like its rival Wipro Ltd, is chasing market share at the expense of profitability.
Read Livemint's full report here.