BUSINESS
As long as the market is hot, there's going to be high attrition: Wipro CEO Thierry Delaporte
But, according to Delaporte, the company is better positioned to attract talent now than it was two or three years ago. With the demand continuing to be on the rise, Delaporte spoke to Moneycontrol about the sustainability of this growth, its acquisition spree and more.
BUSINESS
Acquisitions will continue to be key growth driver for market share gain: Wipro CEO Thierry Delaporte
However, the buys will have to make sense from a strategy point of view, said Delaporte, while adding that there is perfect alignment with him and Chairman Rishad Premji on this matter
BUSINESS
Wipro to hire 38,000 freshers in FY23, as attrition spikes to 23.8%
The company hired 19,000 freshers in FY22, and made the highest ever addition of 45,000 people last fiscal. This is a multi-fold jump from 14,826 people it added in FY21.
BUSINESS
Infosys, Labour Ministry to meet on May 16 to discuss non-compete agreement
The company was absent from the first round of discussion that was scheduled on April 28. In the next meeting, representatives from the ministry and Infosys are expected to be present along with the union that filed the complaint seeking removal of the agreement from offer letters.
BUSINESS
Labour Ministry calls Infosys for joint discussion on non-compete clause
As per the clause, employees who have quit the firm are banned from working with the clients, with who they were associated for 12 months before they quit.
BUSINESS
Former Twitter India head says microblogging platform likely to double down on India under Musk
Twitter signed a definitive agreement on April 25 to be acquired by an entity wholly owned by Tesla CEO Elon Musk in a $44 billion deal. Once the deal is closed, the company that went public in 2013 will become private subject to Twitter shareholders and regulatory approvals.
BUSINESS
Elon Musk's Twitter purchase: What does it mean for its India operations?
Details on what Musk plans to do with Twitter are sketchy at the moment but the deal has implications for the company's future and its operations in India, one of its biggest markets
TECHNOLOGY
As Twitter says yes to Musk, here is its rollercoaster India history in a timeline
Twitter and the government have been at loggerheads over several issues
BUSINESS
TCS, Infosys, HCL Tech added two lakh employees in FY22
This comes on the back of rising attrition even as demand continues to be robust. According to experts and executives, attrition is likely to increase before moderating in the second half of FY23.
BUSINESS
Non-compete clauses in IT firms: Much ado about nothing?
On April 18, an IT union filed a complaint with the labour ministry against Infosys, seeking the removal of a clause that banned former employees from working in rival firms for the same customers for six months.
BUSINESS
No business impact or hiring slowdown in Sri Lanka amid the economic crisis: HCL Tech
HCL Tech employs 2,000 people in the region. Last month, the company faced a hiccup when power went off for 13 hours. With credit lines from the Indian government, and supplies that are coming in, power cuts have now been reduced to three to four hours. In the meantime, the company has adjusted the wages of people and adjusted it to inflation.
BUSINESS
HCL Tech added nearly 40,000 people in FY22, to hire 45,000 freshers in FY23
The company employs 2.08 lakh people. It hired 23,000 freshers in FY22 and guided for 12-14 percent in revenue for FY23 at the back of a robust demand environment after a year.
BUSINESS
Exclusive | Mu Sigma founder Dhiraj Rajaram buys out investors Sequoia and General Atlantic, regains full ownership
Both funds invested in Mu Sigma in 2011 and were among its largest shareholders, together holding nearly 38 percent.
BUSINESS
Non-compete clause standard, won’t limit career growth: Infosys
While these provisions are not new and are common among companies, they have gained prominence against the backdrop of increased attrition. Infosys reported 27.7 percent attrition for the quarter ended March 31, 2022.
BUSINESS
IT employees union files complaint against Infosys, seeks removal of non-compete clause
This comes in the backdrop of IT major’s Q4 earnings that showed the attrition continues to spike amid a robust demand environment. The company hired 85,000 freshers in the year ended March 31, 2022, while the attrition stood at 27.7 percent.
BUSINESS
LTI’s strong growth momentum to sustain for at least 3 years despite challenges: CEO Sanjay Jalona
With a bullish outlook, the company is also looking to hire a large number of freshers. The company hired 6,200 freshers in FY22 and will start with a hiring target of 6,000 newcomers in FY23
BUSINESS
Mindtree, L&T Infotech working together on projects for 2 years: Mindtree CEO Debashis Chatterjee
The mid-cap IT services firm Mindtree has been in the news for a possible merger with L&T Infotech as early as next week. The combined revenue of the two entities would be close to about $3.5 billion
BUSINESS
What potential merger of Mindtree and L&T Infotech means
People working at the firms told Moneycontrol that while they have been collaborating on projects, they didn’t think a merger would happen so soon and thought it was at least a year or two away. However, experts pointed out why the merger isn't a risky proposition and why the consolidation could work.
BUSINESS
Mindtree to step up investment in Metaverse
But the company did not comment on the reported merger of Mindtree with L&T Infotech, both owned by engineering major Larsen & Toubro.
BUSINESS
Elon Musk’s Twitter play: What’s at stake for the company, its India operations
Concerns over what Musk could bring to the table outweigh the business positives that may be in store for the microblogging platform
BUSINESS
Web3 startup EPNS raises $10.1 mn led by Jump Crypto,Tiger Global, Polygon Studios and others
The EPNS team will leverage the funding to expand the team and develop beyond the Ethereum ecosystem. It will also help EPNS push for faster adoption of the protocol, enhance the protocol and enable developers and wallets alike to integrate the protocol.
BUSINESS
TCS, Infosys hired record 1.85 lakh freshers last financial year as attrition spiked
With companies fighting for a limited talent pool, attrition has been on the rise for the last three quarters. As a result, supply side crunch has become a huge challenge for the firms.
BUSINESS
Here's how Infosys plans to get employees back to office
Infosys currently employs 3,14,015 people and close to 95 percent of them are working from home.
BUSINESS
Russia-Ukraine conflict | Infosys has no plans to do business with Russian clients: CEO Salil Parekh
The company has started transitioning all of its work from its centres in Russia, where it employs less than 100 people, to the centres outside Russia.
