BUSINESS
Swiggy CTO Dale Vaz resigns
The role will be taken over by Madhusudhan Rao, who has been with the company for over four years.
BUSINESS
Invesco cuts Swiggy valuation to $8 billion internally as tech stocks bleed
Invesco first invested in Swiggy in January last year, when it led a massive $700-million funding round for the SoftBank-backed platform.
BUSINESS
Companies named in bribery case filed by DVAC over construction of Cognizant’s Chennai campus
Tamil Nadu’s Directorate of Vigilance and Anti-Corruption has alleged that bribes were paid to Chennai's Metropolitan and Development by Cognizant via L&T with the government bodies as well as the companies named in the FIR.
BUSINESS
Microsoft-owned GitHub lays off over 140 employees in India
The company has offered employees two months of salary and separate severance pay based on their experience and length of service with GitHub.
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
Accenture layoffs: How much will it impact Indian ops and employees?
Of the 19,000 employees it will lay off, Accenture said over half will be in non-billable corporate functions. With around 40% of Accenture's talent pool based in India, the Indian operations is expected to feel the pain.
BUSINESS
ONDC expands into mobility space, takes on Ola, Uber with Namma Yatri onboard
ONDC went live in some pin codes of Bengaluru on September 30, and has since expanded to several cities — two of which including Bengaluru are in the beta stage, and 181 in the alpha stage.
BUSINESS
And, Infosys is turning out to be the new CEO factory for India Inc
Ravi Kumar and Mohit Joshi, Cognizant CEO and Tech Mahindra's incoming chief, respectively, were both considered candidates to lead Infosys in the future.
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
TCS CEO-designate Krithivasan rules out a 'great' organisational or strategic reboot
Strategy and priorities will be tweaked in accordance with market conditions but the core principle of working closely with customers will continue, Krithi Krithivasan tells media hours after being named TCS CEO designate
BUSINESS
A day of mixed feelings: Gopinathan, on resigning from TCS
But since his resignation he has been feeling all light and happy, and has no clue what he’s going to do next. The big task before him now is to write his CV, since he hasn’t prepared one since his time at IIM A.
BUSINESS
Corporate Crossings: Former HCLTech top executive Sukamal Banerjee appointed Xoriant CEO
Sukamal Banerjee, who was with HCLTech for 27 years and was instrumental in establishing its market leadership in the engineering outsourcing business, left the company in February
BUSINESS
Having live data, being product-centric, culture of taking risk key ingredients for biz to succeed: Infosys report
Organisations that are agile and product-centric, rather than process-centric, are able to win more in the market, says Infosys head of cloud infrastructure and security solutions Narsimha Rao Mannepalli
BUSINESS
India has a unique opportunity and responsibility in AI: Vishal Sikka
India has the sort of “spiritual priority” around education, which is far more important for parents here than it is in other countries. Indian parents also aspire for their children to be in the most promising next-generation area, Sikka says.
BUSINESS
IT firms may see delay in tech spending due to Silicon Valley Bank collapse
The primary spending impact will be in the Banking, Financial Services and Insurance (BFSI) and High-Tech verticals, according to the note.
BUSINESS
Tech Mahindra names Infosys President Mohit Joshi as next CEO and MD
Mohit Joshi's tenure at Infosys will come to an end in June and till then he will be on leave.
BUSINESS
Swiggy's Supr Daily rebrands as InsanelyGood, enters grocery space
With this, SuprDaily shifts away from a subscription-based service to a next-day grocery delivery service.
BUSINESS
Digital India Act to be principle-based, rules to be prescriptive: Rajeev Chandrasekhar
The government held its first consultation on the framework that the Bill should have on March 9 in Bengaluru, and two more will be held.
BUSINESS
IT sector job openings drop 33 percent year-on-year in February
However, growth in hiring has been projected in the first quarter of FY2024 due to a spike in demand.
BUSINESS
New tech spend coming in from companies who were not big on digitisation previously: Microsoft’s Anant Maheshwari
Microsoft India President Anant Maheshwari also said that generative AI is creating innovation, and is only the start of an era.
BUSINESS
Coders losing jobs to ChatGPT ‘will never happen’, says NR Narayana Murthy
Murthy said that ChatGPT is good and one should welcome it. “Use ChatGPT as the base and then show our creativity, show our smartness, and show our innovation,” he said.
BUSINESS
Only topline important, not bottomline being propounded by VCs is like a Ponzi scheme: NR Narayana Murthy
In response to a question on balancing the aspirations of startups to grow as quickly as possible versus keeping costs in check, Murthy held the investors responsible.
BUSINESS
Infosys top execs took pay cut, honoured all fresher offers during 2001 dotcom bust: Narayana Murthy on onboarding delays
Murthy also said he wasn't worried about the slowdown as Indian software companies will do well when the focus is on better allocation of money
