BUSINESS
Distress call: Hacked WazirX dials Binance for lifeline
As of July 18, Binance held WRX tokens worth around $80 million
BUSINESS
Jobs Ahoy! Top 5 Indian IT companies to add 88,000 freshers this fiscal
The country’s largest software exporter Tata Consultancy Services will account for nearly half of these, as it plans to hire around 40,000 freshers in FY25
BUSINESS
Tech Mahindra adds 2,165 employees in Q1FY25
The company added around 1,000 freshers in Q1, and will be going for campus hiring this year to meet its fresher addition target of 6,000 for FY25.
BUSINESS
WazirX’s $230-mn hack will stall the crypto industry’s progress with regulators
Around 33 percent of crypto users in India have accounts and hold balances with the digital assets exchange.
BUSINESS
Cryptos find no mention in Sitharaman's union budget speech
The government has been in talks with the Indian crypto industry and has taken measures in the past months to meet some of their demands.
BUSINESS
At Rs 84.16 crore, HCLTech’s C Vijayakumar becomes highest paid Indian IT CEO for FY24
Second to him is Infosys CEO Salil Parekh who drew around Rs 66.25 crore, followed by Wipro’s new CEO Srini Pallia who got a remuneration package of around Rs 50 crore.
BUSINESS
No flip-flops: LTI Mindtree COO Nachiket Deshpande backs hybrid working for employees
"We've always said that we would want to strike a balance and get the best of both worlds," Deshpande said. Most junior associates have been asked to work from office at least two days a week, he said.
BUSINESS
Q1 results: Infosys grows fastest among top four Indian IT companies
Infosys has beaten its nearest rivals in metrics such as constant currency revenue growth and margins. However, its headcount declined in Q1.
BUSINESS
Wipro is back hiring, plans to add 10,000 - 12,000 employees in FY25
In the June quarter, Wipro onboarded over 3,000 freshers, returning for campus hiring after a year.
BUSINESS
Wipro’s headcount increases by 337 in Q1, reverses decline after six quarters
Wipro has on boarded over 3,000 freshers in Q1 and plans to hire around 10,000-12,000 people in FY25 including on and off campus.
BUSINESS
No office, no leaves! HCLTech links employee leaves to office attendance
Employees have to be in office three days a week and at least 12 days in a month, else their leaves will be cut for each day they are absent, people familiar with the matter said.
BUSINESS
Infosys to hire 15,000-20,000 freshers in FY25
In FY24, Infosys had hired 11,900 freshers, a decline of 76 percent from over 50,000 freshers hired in FY23.
BUSINESS
Infosys loses 1,908 employees in Q1FY25, sixth consecutive quarter of decline
This is likely driven Infosys’ changing hiring model as it looks to focus more on improving utilisation rate. On a YoY basis, overall headcount reduced by 20,962.
BUSINESS
Regulatory spends in BFS, vendor consolidation driving demand for LTIMindtree: COO Nachiket Deshpande
In Q1, North America saw the highest growth on both QoQ and YoY basis, with the revenue contribution coming from this geography increasing to 75.1 percent, its highest since the merger of erstwhile L&T Infotech and Mindtree in November 2022.
BUSINESS
LTIMindtree pushes FY25 annual wage hike cycle to Q3
In FY24 too, LTIMindtree had delayed its wage hike cycle, which typically begins in the month of April, to August.
BUSINESS
Hiring, interviewing, experience zones: How TCS is infusing AI into its operations
AI Experience Zones for innovating and experimenting, AI-based interviewers and coaches for hiring and deploying talent — here’s a sneak peek into TCS 2.0
BUSINESS
HCLTech has no plans to link variable pay to office attendance, says CEO C Vijayakumar
In February, the company made it a must for employees to report to office thrice a week
BUSINESS
Linking variable pay to office attendance not to punish employees, is temporary measure, says TCS HR chief
TCS CHRO Milind Lakkad also shared that the company has cleared all the fresher hiring backlog from previous years.
BUSINESS
Discretionary spending has not picked up, says HCLTech CEO C Vijayakumar
HCLTech expects to see growth across all verticals and geographies barring financial services in Q2.
BUSINESS
No significant pick up in discretionary spending yet: HCLTech CEO
HCLTech reported $1.96 billion in new deal wins for Q1FY25, a decline sequentially from $2.29 billion reported last quarter.
BUSINESS
HCLTech sees headcount decline by 8,080 in Q1FY25
The company said it lost around 7,398 employees due to a divestiture.
BUSINESS
Nearly 70% of TCS employees' return to office after variable pay linked to attendance
CHRO Milind Lakkad said that this measure is a temporary move and needs to be seen that way.
BUSINESS
TCS completes annual increments in Q1
During Q4 earnings conference in April, Lakkad had shared that the company will be rolling out wage hikes in the range of 4-5 percent with double digit hikes for top or exceptional performers starting from April 1.
BUSINESS
TCS Q1 order book declines 18% to $8.3 billion
TCS' total contract value (TCV) was 18.6 percent lower from the $10.2 billion in the year-ago period and 37 percent down from the previous quarter
