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BUSINESS
How much of an impact will the lack of a US fiscal stimulus have on the IT sector?
Most Indian IT firms are hopeful that the rebound seen in the second quarter will continue in the coming months, with or without the fiscal stimulus. Top executives say this is because long-term technology transformation investments will continue as clients gear up for the future
BUSINESS
KPIT Tech confident about growth in H2 FY21, led by Europe: Co-founder and President
Sachin Tikekar says after the huge COVID-led impact, clients are now willing to spend as they realise there is a future ahead of them. He says there are signs of recovery in the US, and the company is bullish about the industry in the next 2-3 years. KPIT Tech has already started rolling back salary cuts across the globe.
BUSINESS
Like a Boss: Infosys co-founder SD Shibulal on how leadership hinges on challenging the status quo, uncertainty principle and steering the company during a crisis
Infosys co-founder SD Shibulal has a Masters in Physics and Computer Science but he has never been to a business school and yet he continues to inspire through his leadership. In this edition of our Like A Boss series we caught up with him to understand his leadership style and what keeps him inspired.
BUSINESS
Festival cheer: Close to 10 lakh IT employees to get hikes in coming months
Most of these companies suspended salary hikes and promotions as coronavirus hit the economy and brought business activity to a standstill.
BUSINESS
Cloud, automation drive growth for Hexaware in Q3
This is the last result of the company as a publicly listed firm. Hexaware's shares will be delisted from stock exchanges effective November 9.
BUSINESS
HCL Tech will hire 12,000 from campuses in FY22 as demand picks up: Human resources chief
VV Apparao says starting Q2 FY21, demand has started returning to pre-COVID-19 levels, and there is a need for more talent. Mode 2 (new generation services) skills in areas of digital, analytics, cloud, cybersecurity, IoT lacking in market, he says.
BUSINESS
Trump’s June 22 executive order suspending new visas cost Fortune 500 companies $100 billion: Brookings report
The order banned the entry of temporary guest workers holding visas such as H-1B, and L-1 till December 31. This barred close to 2 lakh foreign workers and their dependents from entering the country.
BUSINESS
COVID-19: Travel costs of IT firms fall 70% over the last 6 months
Normally, travel accounts for 2 percent of IT firms’ annual business costs. Reduction in travel, in part, also helped companies to improve their margins in Q2.
BUSINESS
13 US organisations, universities sue Trump administration for new H-1B rules
This is the third lawsuit against the Trump administration, calling the new wage rule and tighter regulation illegal and arbitrary.
BUSINESS
Q2 report: As IT companies get back their hiring mojo, it's good news for both students and experienced
Headcount in top four IT firms – TCS, Infosys, Wipro and HCL Tech – increased by 17,079 in September 2020 quarter. These were a mixture of freshers and laterals. The number declined by 9,000 in Q1.
BUSINESS
Second lawsuit challenging new H-1B rules to be filed in US court today
The case will focus on the possibly illegal manner in which the rules were rolled out, the faulty math and economic assumptions. The DOL and DHS have pointed out the increasing unemployment in the US as one of the reasons for implementing the rules. However experts said the reasoning is flawed
BUSINESS
Donald Trump administration to face more lawsuits challenging H-1B rules close to two weeks before elections
The new rules increased the wage hikes for H-1B workers and also made qualifying for H-1B visa tougher. First of the lawsuit filed by US IT companies on October 16 was against the wage hike rule. Two more are likely to follow in the coming days, possibly challenging both the rules.
BUSINESS
HCL Tech’s acquisitions to continue as it looks to expand tech offering and newer geographies: CEO C Vijayakumar
“Acquisitions in three areas to enhance and broad-base our digital capabilities, innovative IP to drive for more growth for our products and platform segment and expand and bring market presence in newer geographies,” said C Vijayakumar - the president and chief executive officer of HCL Technologies.
BUSINESS
Sudha Murty to continue philanthropy through family foundation after retiring from Infosys Foundation next year
After heading Infosys Foundation, the philanthropic arm of IT services firm Infosys, for 25 years, chairperson Sudha Murty will retire from the foundation in December 2021
BUSINESS
Infosys outperforms TCS in at least three straight quarters year-on-year. Will it continue?
Infosys is steadily on its way back to gaining the bellwether status it ceded to TCS years ago, if its growth momentum over the last few quarters is anything to go by
BUSINESS
US visa dependency needs to come down to combat regulatory changes: Infosys COO
Over the last three years, Infosys has increased its localisation efforts in the US. About 63 percent of the employees in the US are Americans, and it aims to recruit 12,000 more locals in the next two years
BUSINESS
Wipro CEO Thierry Delaporte makes all the right moves in Q2. Can he take the firm back on to growth path?
Delaporte, during the earnings call on October 13, laid out five priorities -- winning large deals, focus on scale, offerings, talent, and a simpler and leaner organisation.Going by the commentary, work has already begun on this front and is moving rapidly as they could.
BUSINESS
Wipro CFO says impact of new H-1B visa rules to be less on company as its localisation in the US is 71.9%
Jatin Dalal shares his insights on pricing pressures, the impact of H-1B visa rule changes, and changing business models in a conversation with Moneycontrol. He says the pandemic has taught the company to adopt a more sensible, long-term approach about work.
BUSINESS
This week in tech: TCS Q2 results, H-1B rule change and IBM splits to focus on cloud
There is a clear indication that cloud and digital capabilities drive tech growth and are here to stay.
BUSINESS
IBM splits to focus on cloud, AI, and it's good news, say industry watchers
The managed infrastructure services of the segment will become an independent entity by the end of 2021. The segment accounts for about $19 billion in annual revenue. It caters to 4,600 clients and employs 90,000 people.
BUSINESS
Trump’s new rules hike H-1B wages by up to 47% in some regions
Lawsuits against the rule may, however, save India’s IT industry a big headache. The aim of the wage increase is to make it tough for companies to hire H-1B workers and instead encourage local hiring. Along with the wage hikes, the Trump administration had also announced a new rule that would make it harder to qualify for an H-1B visa.
BUSINESS
TCS Q2 shows there's more than just hype to all the buzz around digital
The company’s over 20 quarter high growth of 4.8 percent QoQ comes at the back of what the IT major terms as multi-year tech transformation cycle, where clients are migrating to cloud, investing in digital collaboration tools and touchless technology.
BUSINESS
New H-1B visa rules likely to put pressure on margins for Indian IT firms as wages, restrictions increase
IT firms may now have to change their hiring and internal management practices. Increase in H-1B wages will bring downward pressure on margins as companies will not be able to pass on the higher cost to client visas. The US accounts for about 50-60 percent revenue for Indian IT firms.
BUSINESS
Explainer: These two new rules could make it harder for Indian IT firms to employ H-1B workers in the US
One rule increases the wage levels of highly skilled workers such as H-1B workers and green card applicants. The other makes the criteria to qualify for an H-1B visa difficult for employers. Immigration experts feel the new rules could face legal challenges
