Tech Giant Infosys Record Declined Headcount: Lowest Since 2001
Business Connect Magazine
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The Bangalore-based tech giant saw a substantial decrease in revenue, on Thursday, April 18, 2024, Infosys reported its revenue report for the 4th Qtr which recorded a decline of 1.4% in the revenue, lowest since its foundation in 1981.
Which is lesser than Infosys self forecasted its revenue to increase by 3% for the Financial year 2023-24.
This has also affected the company’s stake value as well, as Infosys share were down by 5% on NYSE on Thursday, after the revenue report was published.
Salil Parekh, CEO of Infosys said, “As we look at the start of FY25, we see the discretionary spending and digital transformation work at the same level,? and we see the focus on cost efficiency and consolidation continuing. The guidance for FY25 as a band is higher than where we finished last year.
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