Infosys' attrition rate crosses 20% in second quarter

NEW DELHI: The number of employees leaving Infosys on an annualised basis rose above 20% in the second quarter amid expectations that its non-founder CEO Vishal Sikka will be able to stem the exodus.

The attrition rate rose to 20.1% for the quarter ended September 30, from 19.5% last quarter. Infosys had an attrition rate of 17.3% last year.

Analysts had expected the country’s second-largest IT exporter to post attrition of around 22% in the second quarter, despite Sikka engaging with employees, and promoting around 5,000 employees since he took over.

Infosys has grappled with rising attrition over the past year, and saw several high-profile exits.
However, most analysts believe that Infosys will be able to slow the exits by the end of the third quarter in December.

Infosys has the highest attrition rate among the top four Indian IT companies. Mumbai-based Tata Consultancy Services reported attrition rate of 11% last quarter. TCS is scheduled to report its second quarter earnings on October 16.