Hired 9,100 people in US between April 2017-March 2019: Infosys

IT major Infosys said it has hired over 9,000 people in the US between April 2017 and March 2019, almost meeting its target of recruiting 10,000 American workers.

The move has helped the company strengthen its business model, it added.

"Since April of 2017, we have hired about 9,100 people as of March 2019. This has actually helped us in strengthening our business model and becoming less dependent on visa for for talent or ability," Infosys COO UB Pravin

Rao said at the company's annual general meeting (AGM).

In May 2017, Infosys had announced that it will set up four technology and innovation hubs and hire about 10,000 locals in the US over a two-year period.

The Bengaluru-based company, like many of its peers, has been ramping local hiring in key markets like the US, the UK and Australia to tackle increasing scrutiny around work visas by various governments.

Infosys is also focussing on co-creating and co-innovating alongside clients, academia and government to accelerate innovation as well as upskill talent in emerging technologies and solutions.

North America is the largest market for Infosys, accounting for 61.2 per cent of its topline, followed by Europe (24 per cent), rest of the world (12.5 per cent) and India (2.3 per cent) at the end of the March 2019 quarter.

Infosys had reported 19.1 per cent increase in revenue from operations at Rs 21,539 crore in the quarter. Its total headcount was over 2.28 lakh at the end of March.

Infosys Chairman Nandan Nilekani described FY2018-19 as a year of "resolute stability" and said the company has deepened its focus on strengthening its digital capabilities, especially in areas like analytics, cloud, Internet of

Things, cybersecurity, artificial intelligence and machine learning.

"In addition to being a year of relentless execution of a robust strategy, this one has also been, much to my delight, one of resolute stability, exemplary management leadership and coming together of one unified team Infosys.

"I cannot ask for better preparedness to focus on our clients and the transformational work we need to execute for them," Nilekani said at the 38th AGM.

He sought to assure shareholders that the company would do everything it can to "build on these advantages and harness the vitality of this high-energy management team".

He pointed out that guided by the strategy articulated by Infosys CEO and MD Salil Parekh, the company has deepened its digital capabilities.

"...we invested in nurturing specialised client-facing teams to drive strategic partnerships. We expanded our digital centres in the US, Europe, and Asia Pacific, in addition to creating new infrastructure for digital delivery in India.

Our acquisitions of Brilliant Basics, WongDoody, and Fludio are seeing strong traction with our clients," he added.

Parekh, who took over as CEO in January 2017 following a lengthy row between founders and the then management, had outlined localisation, along with strategic investments and enhancing the company's digital capabilities as key areas of this three-year strategic plan.

 The strategy outlined focussed on stabilising Infosys' business in 2018-19, building momentum the next year, followed by acceleration in 2020-21.

The resolution for appointment of Nilekani as a director liable to retire by rotation saw 98.75 per cent votes in favour at the AGM, while items like adoption of financial statements and declaration of dividend saw almost no opposition.

The special resolution for approval of the Infosys Expanded Stock Ownership Program 2019 (the 2019 Plan) and grant of stock incentives to the eligible employees saw 91.57 per cent votes being cast in favour.

The ordinary resolution for granting stock incentives to CEO Parekh under the 2019 Plan saw 85.06 per cent votes in favour of the proposal, while 78.39 per cent votes were polled in favour of a resolution approving changing his terms of appointment.

The ordinary resolution for granting stock incentives to COO Rao under the 2019 Plan saw 85.07 per cent votes in favour.