BUSINESS
US firms lead India’s GCC surge, set to establish nearly 350 new centres by 2030
While American multinationals dominate upcoming global capability centres in India, non-US companies, particularly Japanese firms, are expanding at almost twice the pace
BUSINESS
Indian IT cuts H-1B visa use by 56% in 8 years; US Big Tech emerges top sponsor
Approved H-1B petitions for initial employment from the top seven Indian IT firms fell 56 percent to 6,700 in FY2023 from about 15,100 in FY2015.
BUSINESS
Oracle begins India job cuts, targeting cloud and financial services teams
These cuts have so far happened across Oracle Cloud Infrastructure (OCI) and Oracle Financial Services Software (OFSS) divisions, impacting hundreds of employees.
BUSINESS
CoinDCX’s CHRO Mudita Chauhan, CISO Sridhar G quit
This comes three months after, Chief technology officer (CTO) Vivek Gupta and legal head Tushar Tarun had quit even as the exchange looks to expand globally.
BUSINESS
US HIRE Bill clouds Indian IT outlook but faces steep political hurdles
The bill proposes a 25 percent tax on certain payments to foreign firms for services consumed in the US, but experts say it is unlikely to pass in its current form.
BUSINESS
Crypto Futures driving 70-80% trading volumes, say Indian exchanges
Tax saving benefits, influencer-driven traction, and flexibility to take long and short positions on a large variety of tokens led to the growing popularity of crypto perpetual futures.
BUSINESS
TCS rolls out annual salary hikes of 4.5-7% on average, double-digit increment for top performers
In August, the company had said that it will be giving out increments to around 80% of its employees effective from September 1.
BUSINESS
Big Tech giants defy US-India trade tensions, record strongest 12-month headcount growth in India in 3 years
Facebook (Meta), Amazon, Apple, Microsoft, Netflix, and Google (Alphabet)-have collectively hired over 30,000 new employees in India over the past 12 months, Xpheno data shows.
BUSINESS
TCS creates new AI and Services Transformation unit, appoints Amit Kapur as head
The restructuring comes at a time when IT services companies are aggressively strategizing their AI playbooks to capture market share amid larger demand slowdown globally
BUSINESS
Big Tech Bets: Apple, Google, Meta, Microsoft and OpenAI expand in India amid Trump trade tensions
In 2025, leading American tech giants Google, Apple, Microsoft, OpenAI, and Meta, have announced significant expansion plans in India, securing prime office space despite US President Donald Trump’s dismissal of India as a “dead” economy.
BUSINESS
How Peter Thiel-backed unicorn Sentient AI plans to compete ChatGPT, Perplexity to build open source AI
Last week, Sentient AI launched Grid, an open-source AGI platform allowing any developer to contribute agents, data, or models in a single interface. It has over 40 specialised agents, 50 data sources, and 10-plus models, spanning Web2 and Web3 applications.
BUSINESS
Pune emerging as GCC hotspot, expected to cross over 500 centres by 2030
A combination of cost advantages, skilled talent, proximity to the financial capital Mumbai and GCC-friendly policies are shifting Pune’s position from a secondary technology hub to a niche high-value GCC destination
BUSINESS
AI is now a non-discretionary spend for clients, says Genpact CTO on strategy reset
Unlike its industry peers, Genpact, which has undergone a strategy reset under new leadership, has beefed up its mid and senior-level talent.It has hired over 100 executives in the past five months, Sanjeev Vohra tells Moneycontrol
BUSINESS
Trump’s proposed H-1B wage-based selection rule could squeeze Indian IT’s early-career hires
The proposed changes are set to be released for public review. If agreed, they can impact 20,000-25,000 professionals at Level 1 and 2 salary ranges, which mostly include early-career professionals
BUSINESS
Cognizant yet to decide on salary hikes, to cover most employees in H2, says CFO
Cognizant usually starts its increment cycle on August 1 but this time, the company has signalled some delays
BUSINESS
Cognizant tops Q2 revenue growth estimates, lifts full year growth guidance to 4-6%
The company saw its headcount increase by 7,500 sequentially, ending with 343,800 employees in Q2
BUSINESS
TCS layoffs: Karnataka labour department calls for conciliation meeting on Aug 6
Sources told Moneycontrol that the Labour Department is likely to issue a notice to TCS management following a complaint filed by KITU over the recent layoffs.
BUSINESS
Persistent Systems delays wage hikes by a quarter, pauses fresher hiring over macro uncertainty
Persistent Systems CEO Sandeep Kalra is hopeful that the macro uncertainties due to Trump’s tariffs and delayed decision making by clients will start to stabilise over the next one or two quarters.
BUSINESS
Taken to court, Microsoft restores services to Rosneft-backed Nayara Energy
Microsoft had on July 22 suspended tech support for the refiner after the European Union sanctioned Nayara Energy, which challenged the move in the Delhi High Court
BUSINESS
Margin pressures and outdated skills behind TCS job cuts, say industry analysts
TCS’ move to opt for job cuts will have a cascading effect on other IT companies, who too have been launching various programs to improve operating margins in the past two years amid growth slowdown.
BUSINESS
TCS is just the start! Experts expect other IT firms to also cut jobs amid margin pressure and AI push
TCS’ move to opt for job cuts will have a cascading effect on other IT companies, which have also been launching various programs to improve operating margins in the past two years amid growth slowdown.
BUSINESS
TCS job cuts not driven by margins, says TCS CEO K Krithivasan
At the end of the June quarter, TCS had 6,13,000 employees. A 2 percent workforce cut will impact roughly 12,200 employees
BUSINESS
Not cutting jobs because of AI, says TCS CEO Krithivasan on 2% workforce layoff plans
'This is driven by where there is a skill mismatch, or, where we think that we have not been able to deploy someone,' Krithivasan told Moneycontrol.
BUSINESS
MC Interview: Had to take 'difficult call' to build stronger TCS, says CEO K Krithivasan after cutting 12,000 jobs
'It has not been an easy decision and one of the toughest I had to take', TCS CEO K Krithivasan said
