BUSINESS
‘There will be a strong bounceback in technology in times to come’: ChrysCapital’s Sanjay Jalona
Xoriant’s acquisition was part of the PE firm’s $1.4 billion ninth fund, and the plan is to create two-three such companies in the $500 million-$1 billion bracket.
BUSINESS
Mu Sigma prevails in a David vs Goliath fight starring Lord Shiva
The lawsuit by American billionaire Patrick Ryan claimed that Dhiraj Rajaram’s devotion towards Lord Shiva influenced his business decisions.
BUSINESS
Happiest at 80: Ashok Soota strikes again with an array of health products; calls Warren Buffett a role model
The IT sector doyen's Happiest Health has dished out a magazine, a mobile app and a metaverse platform for users to access health and wellness knowledge and programmes, all in six months of its existence.
BUSINESS
Bulk of integration to be completed within this fiscal year, that’s a tall order: LTIMindtree CEO
The company intends to focus on its top five accounts, which make up around 25 percent of its overall revenue, says CEO Debashis Chatterjee.
BUSINESS
Amazon launches air cargo service in India, leases 2 aircraft from Quikjet
Amazon Air will speed up deliveries and also support over 1.1 million sellers in India, the company said. The two aircraft will transport shipments to Hyderabad, Bengaluru, Delhi, and Mumbai
BUSINESS
Employee union to approach labour department over Wipro terminating offers of 452 freshers
The Nascent Information Technology Employees Senate (NITES), a union of IT employees, said that it 'strongly condemns the unethical layoffs done by Wipro'
BUSINESS
Wipro lays off 452 freshers for ‘poor performance’ in internal assessment
In the termination letter that was sent by Wipro to the affected employees, the company said the freshers were supposed to cough up the Rs 75,000 that the company spent on their training programme, but the amount has been waived off.
BUSINESS
Event management platform Hubilo lays off 35% of its workforce
Hubilo will now be focussing more on physical events as the pandemic-led lockdowns and restrictions are removed. The firm had around 330 employees before the layoffs.
BUSINESS
TCS, Infosys, Wipro, HCLTech net employees addition drops 93% in Q3FY23
The drop from the previous quarter does not indicate that demand is slowing, top executives said.
BUSINESS
When we went to campuses and made offers last year, industry was more bullish: Wipro CHRO on onboarding delays
Chief Human Resources Officer Saurabh Govil admits that the process had been delayed but says Wipro will not renege on job offers and will honour all such commitments
BUSINESS
Wipro CEO: Seeing shift in client priorities to deals that deliver rapid returns
On clients moving away from discretionary spends, CEO Thierry Delaporte added that the macro uncertainty drives a “certain level of volatility”, and on that front, there is a lag in conversion.
BUSINESS
Wipro headcount down by 435 employees, attrition declines to 21.2% in Q3
This is the first time in ten quarters that Wipro is seeing a net reduction in headcount since the first quarter of FY21, when the company's headcount reduced by 1,082 employees.
BUSINESS
Cognizant’s Ravi Kumar needs to hire seniors, stem attrition to see growth: Moshe Katri
The new CEO was appointed earlier than expected, suggesting that Cognizant doesn’t want to lose any more time making a turnaround,
BUSINESS
Infosys hires 6,000 freshers in Q3, expects to reach target of 50,000 by end of FY23
The company had set a target of hiring 50,000 freshers at the beginning of FY23, and has not revised the same.
BUSINESS
‘Have examples where we are using ChatGPT with client situations’: Infosys CEO Salil Parekh
Infosys was among the backers of OpenAI, the maker of ChatGPT, which the CEO said was a donation.
BUSINESS
Ravi Kumar's appointment as Cognizant CEO can be a 'consensus, confidence builder': Wedbush’s Moshe Katri
He believed Ravi Kumar’s appointment would be a ‘consensus, confidence builder’ where he can attract talent,
BUSINESS
Cognizant appoints former Infosys president Ravi Kumar as CEO
Ravi Kumar succeeds Brian Humphries, who will be departing from the company on March 15. The company also revised its guidance for the year.
BUSINESS
Infosys attrition rate declines to 24.3% in Q3FY23
During the third quarter of the 2023 fiscal year, the company added 1,627 employees, a decrease from the previous quarter. With this, Infosys' headcount stands at 3,46,845 as of December 31, 2022.
BUSINESS
Amazon summoned by Pune Labour Commissioner over layoffs
The Nascent Information Technology Employees Senate has complained that the "voluntary separation policy" offered by the e-commerce giant to its employees was illegal
BUSINESS
TCS to roll out 100% variable pay to junior employees for Q3FY23
For senior employees, the individual variable payout is based on business unit performance.
BUSINESS
IT services sector experiences flat job growth in December: report
The number of active jobs has decreased by 41 percent year on year. According to Xpheno data, the sector's contribution was less than 30 percent for 21 months.
BUSINESS
TCS has over 1.25 lakh mid, senior level employees serving it for over 10 years
More normal hiring trend on the cards with TCS planning to hire 1.25-1.5 lakhs this year. Along with an expected normalisation of attrition levels, the company hopes to have sufficient capacity to take care of growth
BUSINESS
TCS CEO Rajesh Gopinathan remains upbeat amid challenging demand scenario
TCS Q3 Earnings: The company said that growth this quarter was driven by cloud services and market share gains through vendor consolidation.
BUSINESS
TCS headcount reduces by 2,197 employees, declines for the first time in 10 quarters
A contraction in the net addition number of TCS was seen previously in the first quarter of FY21.
