BUSINESS
Swiggy starts charging customers ‘platform fee’ on food orders in monetisation push
While Rs 2 may seem like a small amount, it would create a large enough corpus for Swiggy to reinvest back into its business as it delivers over 1.5 million orders each day, analysts said
BUSINESS
Wipro anticipates macro hurdles ahead, keeps lower revenue guidance for Q1
CEO Thierry Delaporte attributed the revenue growth decline in constant currency terms during the quarter to the uncertainty in the market and the resulting slowdown in discretionary spending.
BUSINESS
Wipro’s headcount declines for the second quarter, down by 1,823 employees
With the headcount decline in Q4FY23, the company’s net addition for FY23 stands at 13,793, down from FY22’s net addition of 45,416.
BUSINESS
Covid surge: India Inc gears up with vaccination mandates, booster doses, emergency response teams
According to experts, companies do not appear to be making any changes to their work arrangements currently but many said they are open to reconsidering remote work if the situation worsens.
BUSINESS
TCS, Infosys, HCL Tech record 65% decline in hiring as IT sector runs into a rough patch
TCS, HCLTech, and Infosys' net additions fell sharply year on year in Q4FY23, with only 884 employees added on a net basis compared to 68,257 in Q4FY22.
BUSINESS
Former Cognizant CEO Brian Humphries was 'involuntarily terminated'
The Chairman of Cognizant's Board said a CEO transition was required for Cognizant to progress faster, increase its commercial momentum and accelerate revenue growth.
BUSINESS
Tata Communications sees room to grow in international markets despite headwinds: CEO Amur Lakshminarayanan
In the second phase of its strategy, the company aims to be a digital fabric for the enterprise, not just enabling connectivity for a particular product but also reducing risk and enhancing experience
BUSINESS
How Namma Yatri works: Can it break Ola and Uber's duopoly?
Backed by the Nilekani-led non-profit Foundation for Interoperability in Digital Economy and built by Juspay, the mobility app with a differentiated pitch is currently working on a subscription model for auto drivers and looking to build scale.
BUSINESS
Infosys to roll out structure for financial services team as Mohit Joshi leaves
The roles of Ravi Kumar S, who exited the company in October last year, were primarily split between Sathish HC and Dinesh Rao
BUSINESS
Infosys logs in disappointing set of numbers for Q4
Infosys also saw a one-time impact on revenue, according to the company's leadership.
BUSINESS
Infosys’ headcount declines by 3,611 employees in Q4
This is the first time since the Covid-hit quarter of FY21 that Infosys is ending a quarter with fewer employees than it had at the end of the previous quarter.
BUSINESS
TCS incoming CEO Krithivasan on reorg: No hurry to change, will make tweaks as required
"This structure was put in place after all the internal discussion so there is no rush to do anything,” CEO designate K Krithivasan told analysts.
BUSINESS
'In my interactions with clients over last quarter, conversation starts and stops with ChatGPT’: TCS COO NG Subramaniam
Subramaniam said TCS will have a centre of excellence around generative AI
BUSINESS
TCS rolls out 46,000 offers to freshers for FY24
Chief Human Resources Officer Milind Lakkad said that while there have been delays of 1-2 months in onboarding, the company has honoured all past offers.
BUSINESS
Incoming TCS CEO K Krithivasan to take over on June 1, 2023
Outgoing CEO Rajesh Gopinathan will stay on till September 15 to help with the transition.
BUSINESS
TCS slashes hiring to 22,600 in FY23 from 1.03 lakh a year back
The net headcount addition in FY23 has seen a steep decline of 78 percent from FY22. The company had previously also attributed the decreased hiring in FY23 to increased hiring in the preceding fiscal.
BUSINESS
PhonePe’s Pincode app: How it stacks up in week 1 of use
Can Pincode — which had over 10,000 downloads on Google Play Store at the time of writing — match up to other apps? Let’s find out.
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
Tech sector hiring may see a pause for 6 months as companies watch out global trends
The expectation is that the second half of FY24 will be better than the first half.
BUSINESS
ONDC wants platforms like Amazon, Flipkart, to join both seller and buyer sides of network
ONDC's CEO T Koshy said that the discounts they are providing small incentives to the merchants to bring their catalog online as it's a cost for them. "We are trying to make good of those costs for six months to nine months, then by the time it would build up its own momentum," he said.
BUSINESS
We need to chart our own destiny: PhonePe's Sameer Nigam on ecommerce foray, competing with Flipkart
On the sidelines of the launch of Pincode, PhonePe co-founder Sameer Nigam talks about the e-commerce foray, plans with lending, why the acquisition of ZestMoney and more.
BUSINESS
PhonePe kicks off digital lending pilots, may apply for NBFC licence: Co-founder and CEO Sameer Nigam
PhonePe’s digital lending forays come on the heels of its massive $1 billion fundraise that it announced earlier this year at a $12 billion valuation, which made it India’s most-valued fintech startup
BUSINESS
PhonePe's due diligence on ZestMoney was unsatisfactory: Sameer Nigam on deal collapse
Nigam’s comments on the ZestMoney deal falling through were the first official acceptance of the acquisition deal by PhonePe, which it was evaluating since last year and was first reported in November 2022. Both PhonePe, and ZestMoney had stayed away from commenting on it officially
BUSINESS
PhonePe launches new app Pincode on ONDC to strengthen its e-commerce play
PhonePe currently operates in the e-commerce space with 'Switch' and has various services that are similar to its biggest rival Paytm. An ONDC foray will further put PhonePe in direct competition with Paytm, which already has an ONDC platform integrated with its application
