Persistent Systems to recruit 6,000 employees

Persistent Systems is planning to recruit 6,000 employees during the current financial year. This would include a mix of 2,000 freshers and about 4,000 lateral employees.
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“We are looking at a 1:2 (two lateral staff to every fresher) ratio. We might hire about 1,000 laterals a quarter this year,” Sunil Sapre, Executive Director and Chief Financial Officer of Persistent Systems, told BusinessLine.

The Pune-based technology services company has 14,904 employees as of June 30 against 10,829 in the same quarter last year.

Persistent Systems increased salaries for its employees in India by 8-10 percent and for those in the US by 3-4 percent. It has 13,710 employees working in India and 1,256 in the US.

The US, which contributes about 80 percent to the company’s revenue, is resuming operations in most places after the pandemic. “Some States (in the US) are still witnessing restrictions. We are going and meeting (clients) in the States where work has resumed. We see a 30-40 percent resumption in normal meetings,” he said.

Persistent Systems posted 27.3 percent increase in revenue to $166.82 million during the first quarter of fiscal 2021-22.

The number of clients that contribute more than $5 million increased to 21 from 17 and those that contribute $1-5 million increased to 76 from 66.

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