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Persistent Systems to cut campus hiring to one-fourth in FY18

Press Trust of India / Mumbai 23 Jan 17 | 04:05 AM

As the IT industry witnesses greater automation and other changes, Persistent Systems has decided to cut campus hires to less than a fourth in 2017-18 and would recruit freshers only as per emerging needs.

"We had made 900 campus offers last year and have decided to do only 200 in FY18," its chairman and managing director Anand Deshpande said.

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He, however, was quick to add that this should not be construed as the company hiring lesser number of freshers.

Deshpande explained that campus offers are made nearly a year in advance before the student passes his course and is ready to join the company. But many-a-time, business environments make companies defer the joining dates.

"We are taking a gamble. We will hire freshers only as per the requirements and feel that the talent will be available in the market," Deshpande said.

The Pune-based company is also hiring outside India as well, he said, adding that hiring is happening in the US, Mexico, Israel and Canada.

He said in the future, employee additions will not be in sync with the revenue growth as lesser number of people do more valued work.

The company expects a net addition of employees, including the experienced lateral hires, to come down to 500-600 in FY2017-18 and the gross hires to be around 1,500-1,800, he said, adding that this has been arrived at after accounting for an attrition of around 15 per cent.

Persistent had a reduction of around 75 people in its total staff for the October-December 2016 period to 9,229 and fewer number of the positions which were vacated were replaced with newer staff, Deshpande said.

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