TECHNOLOGY
India has less than 2,000 senior engineers who can build core AI products
While technology product and IT services companies like Accenture, TCS, Microsoft and IBM, among others have been talking about 'AI-ready' workforces with lakhs of employees getting trained in AI skills, there's still a country-wide AI talent shortage.
BUSINESS
SAP has datasets of over 27,000 customers ready to train generative AI models: APJ President Paul Marriott
These datasets are helping Indian SMBs that have very little structured data in place, adopt generative AI quickly. Nearly 80% of SAP India’s customers are SMBs.
BUSINESS
FY25 discretionary spending environment will be similar to FY24: HCLTech CEO
Discretionary spending is expected to increase in the coming quarters, especially around data, as customers focus on generative AI proof of concept projects, says CEO C Vijayakumar.
BUSINESS
Top 5 Indian IT services companies saw a decline of 69,167 employees in FY24
Four out of the five top IT companies including TCS, Infosys, Wipro and Tech Mahindra lost employees both sequentially in Q4 and full year FY24. HCLTech bucked the trend.
BUSINESS
HCLTech slashes constant currency revenue growth guidance for FY25 to 3-5%
HCLTech CEO C Vijayakumar expects macro environment in FY25 to be similar to the previous fiscal year.
BUSINESS
HCLTech to add over 10,000 freshers in FY25
HCLTech added around 12,141 freshers in FY24.
TECHNOLOGY
HCLTech bucks IT industry trend, adds 2,725 employees in Q4
Net fresher addition in Q4 stood at 3,096 freshers. For the full year, HCLTech added 12,141 freshers.
BUSINESS
The lack of growth is more market dynamics rather than leadership churn: LTIMindtree CEO Debashis Chatterjee
Many deal wins that were delayed are expected to ramp up in Q1, and revenue will start kicking in, Chatterjee said, adding that the upcoming quarter will be better than Q4.
BUSINESS
Tech Mahindra CEO Mohit Joshi chalks out 3-year plan to turn around business in phases
By FY27, Tech Mahindra has set a goal to expand EBIT margin to 15 percent and have higher topline growth as compared to peer average of top six-seven IT services players.
BUSINESS
Tech Mahindra to hire 6000 freshers this year
Tech Mahindra is steadily adding fresh graduates and we are continuing on our path of absorbing 1500 plus fresh graduates every quarter, said CEO Mohit Joshi.
BUSINESS
Tech Mahindra's headcount declines by 795 employees in Q4
FY24 marks the second ever full year decline in headcount for Tech Mahindra, which was down by 6,945. The IT company had previously reported a full year headcount drop in FY18.
TECHNOLOGY
Tech Mahindra Q4 results: Net profit declines 40.9% YoY to Rs 661 crore, revenue drops by 6.2%
The board recommended a final Dividend of Rs. 28/- per equity share of the face value of Rs. 5/- each (560%) for the financial year ended 31st March, 2024.
BUSINESS
LTIMindtree Q4 net profit falls 1.2% YoY to Rs 1,100 crore, revenue up 2.3%
"This quarter was a one off, we will return to growth in Q1 of FY25," said LTIMindtree CEO Debashis Chatterjee.
TECHNOLOGY
Will prioritise growth over margins, can't worry about stock markets: Persistent Systems CEO
Persistent System’s stock price tumbled by over 10 percent on April 22, its biggest single-day decline since March 31, following its Q4 earnings and guidance on expecting flat FY25 margins.
BUSINESS
How generative AI deals stack up for Accenture, TCS, Infosys, Wipro
With Accenture reporting $1.1 billion in revenue from generative AI and TCS seeing a $900-million deal pipeline, Infosys and Wipro settled for seeing strong traction in generative AI deals in Q4.
TECHNOLOGY
TCS won’t give variable pay to employees with less than 60% attendance in office
The IT services major is expecting minimum 85% attendance of employees in office for them to receive full quarterly variable pay from here on
BUSINESS
Crypto experts remain uncertain on short-term Bitcoin price impact post Halving
Going by the trends in all the past Halving events, Bitcoin prices are unlikely shoot up over the next few weeks, experts said.
BUSINESS
Why Wipro is not starting campus hiring yet
According to Saurabh Govil, chief human resources officer (CHRO) of Wipro, the company is yet to complete on boarding of freshers who received offer letters during its post Covid hiring spree.
BUSINESS
TCS, Infosys, Wipro together lost 63,759 employees in FY24
Wipro reported a second consecutive year of headcount decline on April 19, which was down by 24,516.
BUSINESS
Wipro’s headcount shrinks by 6,180 in Q4, sixth consecutive quarter of decline
On a full-year basis, Wipro headcount by down by 24,516 in FY24, the second consecutive quarter of full-year headcount drop.
BUSINESS
TCS outperforms Infosys in revenue growth for the first time in five years
Although TCS is much bigger than Infosys in size, it has still outperformed its Bengaluru-based next-best rival hands down.
BUSINESS
3 million lines of codes generated by Infosys through LLMs in Gen AI is 'industry leading', says CEO Salil Parekh
Infosys CEO Salil Parekh said that all of the company’s service lines now include generative AI and the company has been building playbooks of how that can work.
BUSINESS
Infosys headcount drops by 5,423 in Q4, fifth consecutive quarter of decline
Infosys’ full year headcount for FY24 too declined by 25,994, for the first time in at least 23 years since 2001, driven by the Infosys’ changing hiring model as it looks to focus more on improving utilisation rate.
BUSINESS
We hire more than half of our freshers off campus: Infosys CFO
Infosys CFO Jayesh Sanghrajka said that the IT services giant has not decided on campus hiring at this point.
