BUSINESS
HCL Tech slows down employee addition, hiring drops to 17,067 from nearly 40,000
HCLTech added 3,674 employees in the fourth quarter ended March 31, 2022. The total headcount of the company at present stands at 225,944.
BUSINESS
SAP SE launches Grow with SAP in India to capture MSME segment
Almost 80 percent of SAP’s customers in India are coming from mid-sized companies, said Kulmeet Bawa, president and MD, SAP Indian Subcontinent
BUSINESS
Tim Cook opens Apple’s first India store to the beat of dhols
Customers had swarmed in from across the country and camped overnight. Some had designed special T-shirts and brought legacy Apple products hoping to get them signed by Tim Cook.
BUSINESS
Apple BKC store opens today in Mumbai. Here's a sneak peek
The detailing of the interiors, handcrafted and sourced from different parts of the country is striking. This is one of Apple’s most sustainable stores, which will be carbon neutral and work on 100 percent renewable energy.
BUSINESS
Apple’s first India store 'Apple BKC' will be one of its most sustainable in the world
The Apple BKC store will have more than 100 team members who collectively speak over 20 languages.
BUSINESS
Expect attrition to drop close to 12-13 percent by H2FY24 : TCS CHRO Milind Lakkad
TCS plans to hire around 40,000 freshers in FY23-24, and another 5,000-8,000 employees across its global offices.
BUSINESS
TCS’ year-on-year constant currency revenue growth moderates to 13.7%
The IT services behemoth sees slowdown in revenue growth and operating margins amidst worsening macro environment and client sentiments.
BUSINESS
TCS’ Rajesh Gopinathan says quarter weaker than expected; Q4FY23 TCV at $10 billion
Incoming CEO K Krithivasan, who heads the company’s BFSI vertical, said that sentiments were down in the sector as people rushed to save costs.
BUSINESS
LTIMindtree clarifies purpose of IGNITE amid criticism over delayed on-boarding
The mandatory training and screening programme, IGNITE, faced flak as the campus hires awaiting on-boarding for over a year now were told to either enrol for it or their offers will automatically get cancelled.
BUSINESS
All eyes on CEO successor in waiting, BFSI contagion as TCS kicks off earnings season
A poll by CNBC TV18 shows that overall growth for Q4 is expected to be less than in Q3 as uncertainty continues to prevail amidst a tough business environment. QoQ revenue growth estimates have varied from 0.1 percent to 1.7 percent.
BUSINESS
Freshers cry foul as LTIMindtree delays joining, stokes fears of elimination
According to sources, about 600-700 freshers are impacted. In the face of global headwinds, other IT firms like Wipro and Tech Mahindra have also delayed on-boarding earlier
BUSINESS
IT may log in muted revenue in Q4, analysts see bleak near-term outlook for BFSI
Top-level exits and appointments, the banking crisis in the US and Europe, a worsening macroeconomic climate, and uncertainty about budgets for the new fiscal, all have contributed to this state of affairs.
BUSINESS
What’s in store? Excited Apple aficionados hope an end to long waits for the latest products, disappointing after-sales service
Apart from a better customer experience, they are also looking forward to experiencing the thrill of shopping at a proper Apple store in India
BUSINESS
Insurtech startup InsuranceDekho acquires Lightspeed-backed Verak
With this acquisition, InsuranceDekho will have a stronger foothold and presence in the SME insurance vertical and micro-business insurance schemes, founder and CEO Ankit Agrawal said.
BUSINESS
Info Edge Ventures-backed 1K Kirana lays off 40% workforce to restructure business
According to multiple sources privy to the matter, over 600 employees were let go across teams.
BUSINESS
The Good Glamm Group and actor Akshay Kumar enter into a JV to launch men’s grooming products
The Good Glamm Group expects a revenue run rate of Rs 100 crore in the next one year from this new men’s grooming category.
BUSINESS
Google Cloud will incorporate AI principles in all new products; India unit developing payment gateway
Google Cloud’s head of platform Amit Zavery discusses new AI capabilities for cloud, Vertex AI and offerings built by the India engineering teams with Moneycontrol.
BUSINESS
MC Explains: Why Coinbase and Binance are in the crosshairs of US regulators
The US Securities and Exchange Commission has been on a quest to crack down on digital currencies, more so after the fall of crypto exchange FTX.
BUSINESS
Cost optimisation in focus, moderation in growth expected: What Accenture's results mean for Indian IT companies
One analyst felt the layoffs are a correction that was inevitable as an overheated talent market cools off. Another emphasised that they were aimed at cost cutting because of the need to maintain margins.
BUSINESS
Organic Harvest and Sirona founders to exit The Good Glamm Group by next year
With this, the beauty and personal care unicorn will increase its stake to 100 percent in both brands. The company has started consolidating acquired businesses as it eyes profitability by FY24.
BUSINESS
Will be tough for governments to agree on a common crypto framework, says Binance CTO Rohit Wad
As people become more educated, they will want some of these assets and will ask their governments to allow them to use it in a safe and regulated manner, says Binance CTO Rohit Wad
BUSINESS
Global banking crisis adds to woes of IT firms, slowdown expected in near term
The next six months are going to be tough, with a slowdown in deals and decision-making delays but 2024 should see strong growth as many BFS firms cannot afford to keep delaying IT projects, experts said.
BUSINESS
TCS is a steady business, new CEO K Krithivasan will see a smooth transition, say industry experts
Analysts also praised former CEO Rajesh Gopinathan for building a consistent business through the pandemic and amid macro-economic challenges. Though not extraordinary, growth has been in line with industry trends.
BUSINESS
Who is K Krithivasan? The newly-appointed CEO of TCS
Krithivasan has been with company for over 34 years having joined in 1989. In his ongoing tenure, he has held various leadership roles in delivery, customer relationship management, large program management and sales.
