BUSINESS
Infosys, Wipro setting up GCCs for clients, helping them recruit talent
It’s not just India-based IT companies that are lapping up the opportunity, more than 50% of the US-headquartered EPAM’s customer base in India are GCCs.
BUSINESS
Top 4 IT firms add 8,400 employees in Q2FY25, ending four quarters of decline
Tata Consultancy Services, Infosys, Wipro, HCLTech, Tech Mahindra expected to offer 81,000–88,000 fresher roles in FY25
BUSINESS
Infosys to be impacted by salary hikes, furloughs, fewer working days in H2FY25
When asked about tailwinds that might aid margins, he said Project Maximus, pricing, and role ratios optimisation will help in the last two quarters.
BUSINESS
Mixed bag for TCS, Infosys, HCLTech, Wipro in Q2: BFSI sees uptick, large deals contract
According to analysts, the US Federal Reserve’s interest rate cut impact may start baking into discretionary spending plans of customers only by Q4. The customers may also await the US election season to reevaluate plans and be more certain.
BUSINESS
Infosys Q2 Earnings: Five factors to watch out for
Brokerages expect Infosys to post one of the strongest revenue growth among top IT companies aided by a strong deal pipeline, stable demand and cost management initiatives
BUSINESS
HCLTech stays cautious over macro uncertainties despite outgrowing H1 estimates
What stands out for the Noida-headquartered IT services major is a pick-up in discretionary spending by clients at a time when its rivals fail to bag such deals
BUSINESS
HCLTech to roll out 7% salary hike in October, top performers to receive up to 15%
The company said it expects the wage hikes to have a minimal impact on its operating margins in the December quarter.
BUSINESS
Wipro Q2 preview: Demand environment, guidance among 5 themes to watch out for
Brokerages expect Wipro to perform better than its guided range of -1 percent to +1 percent, when the company reports its September quarter earnings on October 17
BUSINESS
TCS margins decline amid higher third-party costs as BSNL project peaks
TCS’ cost of equipment and software licences went up 600 percent to Rs 3,230 crore in the September quarter from Rs 462 crore in the year-ago period
BUSINESS
TCS has over 600 AI and Gen AI projects in production or development; helping clients set up AI offices
The IT behemoth said it is helping its mature customers set up AI offices to rapidly turn ideas into AI Proof of Concept (PoC), and then to into production.
BUSINESS
TCS adds 5,726 employees in Q2, headcount grows for two straight quarters with attrition rising marginally to 12.3%
With the latest increase, the Tata Group company now employs 612,724 people.
BUSINESS
Why ex-Cognizant employees went to court: “Indian managers would turn their back”, “Spoke Hindi socially”, and more
A former Cognizant employee has accused the company of submitting visa applications for jobs that did not exist.
BUSINESS
US court finds Cognizant guilty of discrimination against non-Indians, company to appeal
The California court, which passed the order on a decade-old class-action suit, also said Cognizant’s conduct meets the standard for punitive damages
BUSINESS
Tech firms, startups back on talent hunt after mass layoffs, hiring freeze for months
After more than a year of muted job market, IT companies and startups in India have started hiring again especially for tech jobs, driving up salary expectations
BUSINESS
IT Q2 FY25 earnings: 5 factors to watch out for
Q2FY25 earnings for the IT sector seem to be heading to a gradual recovery amid caution, according to brokerage houses
BUSINESS
Infosys, HCLTech, & LTIMindtree shift wage hikes to Q3 to sustain margins amidst weak demand
A stagnant job market is an another factor why companies are not worried that an absence of hikes would trigger resignations.
BUSINESS
Will be profitable by 2025, a higher priority than IPO: Tekion CEO Jay Vijayan
While Tekion’s operations have been successful in the US and Europe, the company is yet to enter the Indian market. The high cost of cloud infrastructure in India has slowed down plans for the company.
BUSINESS
Chennai tops GCC headcount growth in FY24; Hyderabad, Bengaluru follow
Another trend worth noting is that Maharashtra has emerged as the only state in India with two cities—Mumbai and Pune—each boasting a GCC headcount exceeding 2 lakh.
BUSINESS
IT vs. GCC debate: IT firms excel in services, not domain expertise, EPAM says
Though GCCs are growing in significance, they still rely heavily on external IT services for their scaling and project needs, says EPAM Systems, a US-based IT company.
BUSINESS
Wipro’s leased office space rises to 1.5 mn sqft, mostly in Mumbai, Gurugram
Wadehra said Wipro had toyed with the idea of strengthening presence in Tier II cities, however, it failed to take off as most employees there didn’t want to work from their hometowns.
BUSINESS
TCS India employees get tax demand notices; company asks them to wait before paying up
The company expects the department to revisit the notices and issue to be resolved soon. According to experts, there's a possibility that tax authorities committed a mistake while processing the filed returns
BUSINESS
Parents should walk the talk, can’t watch movies and ask children to study, says Infosys founder Narayana Murthy
His wife, Sudha Murty, and he dedicated more than three and a half hours each evening to reading with their children during their school years, the Infy founder said
BUSINESS
Double-digit growth to return in ER&D sector in about two years, says Nasscom’s ER&D chair Kishor Patil
Earlier, analysts expected the sector to recover by the first quarter of FY26, as and when the macroeconomic situation were to improve.
BUSINESS
Around 700 freshers await joining dates from Infosys, after 2,000 receive confirmations
The 2.5-year-wait is on for about 500 System Engineer candidates from the 2022 batch and around 200 Digital Specialist Engineer candidates from the 2023 batch.
