BUSINESS
Infosys Q4 results | IT major hired 85,000 freshers in FY22, attrition spikes to 27.7%
For the year, Infosys added 54,396 people and is looking at hiring over 50,000 freshers in FY23
BUSINESS
Infosys grows faster than TCS third year in a row, posts 20.3% growth in FY22
This is also the highest growth the company has registered in close to a decade. Infosys registered a 25 percent growth in FY11.
BUSINESS
Wipro acquires consulting firm Convergence Acceleration Solutions for $80 million
The acquisition will help Wipro drive large-scale business and technology transformation for clients
BUSINESS
Over 95% of TCS employees still working from home
TCS will see the top 50,000 employees coming to office starting three days a week from April, and gradually increase the number of employees coming to offices.
BUSINESS
TCS adds over 1 lakh freshers in FY22, to hire 40,000 freshers in FY23
The company had added 40,185 people in FY21 while it on-boarded close to 78,000 freshers in FY22, up from 40,000 it had in the last year. However, attrition continues to be a concern for the firm.
BUSINESS
Sri Lanka crisis unlikely to have significant impact on IT operations, say experts
Sri Lanka has a modest presence in the industry and IT companies always have the option of other low-cost locations and remote work, experts have said
BUSINESS
My competition is with users’ time spent on mobile phones: DailyHunt founder Virendra Gupta
VerSe cofounder Virendra Gupta says the biggest challenge for a short-video platform is to read the mind of the consumer and give them the content they want. He says the short-video space is a competitive and big space and, in an oblique reference to the ShareChat-MX TakaTak deal, questions the consolidation of two loss-making businesses.
BUSINESS
Dailyhunt parent VerSe Innovation raises a record $805 million at a valuation of $5 billion
The startup will use the money to strengthen its AI/ML capabilities and invest in new efforts such as live streaming and Web 3.0, giving it ammunition to battle local rivals such as ShareChat and global competitors such as Instagram and YouTube.
BUSINESS
The rise and rise of community managers: The new stars of the Web3 universe
In Web3, a community team is as important as a product team
BUSINESS
Impact of Australia trade agreement likely to be modest for IT sector, say experts
Australia has agreed to end the double taxation, where the Indian IT services firms were taxed on the revenue for work done in India. The deal also enables automatic two-four years of work visas for Indian students
BUSINESS
It is raining Web3 jobs for techies in India
Web3 is the next version of the Internet, where services will run on blockchain. It was merely a buzzword until a few months back when a handful of companies like Polygon were working on this concept. Now, things have changed drastically.
BUSINESS
Demand for engineers with niche skills spikes as firms bet big on the Metaverse
According to a report by Xpheno, active job openings for techies with Metaverse-related skills such as AR/VR, blockchain and AI have seen 8-18% increase in the last three months, with hikes going up as high as 80%.
TRENDS
Stellaris VP's Ritesh Banglani on his love for comics and cricket, and why 'The Great Gatsby' is his all-time favourite
In the 21st edition of All About Books, Banglani spoke to Moneycontrol on why he considers 'The Great Gatsby' as one of the greatest fictions of all times, his love for comics and reading Indian authors. Read on to find more.
BUSINESS
Amid the crisis, Trell employees look for greener pastures
An audit by EY last week found financial irregularities by the founders. This pulled the plug on funding plans, pushing the company to cut costs and lay off employees.
BUSINESS
Goodbye résumé, hello Discord: How hiring happens in Web3
Web3, the next version of the Internet, where services will run on blockchain, is disrupting jobs and the future of hiring.
BUSINESS
Exclusive: Dailyhunt’s short video app Josh readies live commerce feature, partners with e-commerce players
This development comes at a time when live commerce space is heating up as short video platforms step up their influencer-led live commerce play. The gross merchandise value of live commerce through short video platforms is expected to reach $5 billion by 2025, according to a report by RedSeer Consulting.
BUSINESS
Women leaving IT sector down by nearly half due to remote working: Study
This is important given that the sector is one of the largest employers of women in the country. Of the 5 million people it employs, more than a quarter are women, and diversity has been one of the key focus areas for the companies in the space.
BUSINESS
What women want: A crack at the Web3 glass ceiling
Women are relatively new to the Web3 ecosystem. They say it is important to have more women founders to build awareness and make this ecosystem more inclusive in India
BUSINESS
Ukraine-Russia conflict clocks higher interest than UP, Punjab elections; social media swamped by misinformation
As the Russian invasion of Ukraine enters its second week and key state elections head to a climax, fact checkers strive to keep misinformation out.
BUSINESS
Short videos will be as large as WhatsApp in India, will start monetising Moj this year: ShareChat’s Ankush Sachdeva
ShareChat-owned short video platform Moj recently closed a deal to buy out and merge Times Internet-owned MX Takatak for about $600 million in a move to strengthen and consolidate its position in the market, amid growing competition from local and global rivals.
BUSINESS
Ukraine crisis to move work to India, slow down Eastern Europe expansion in short term for IT
After the US, Europe and the UK are one of the largest markets for the IT service providers. This move also comes at a crucial time when the IT services business is booming even as they face a huge challenge of shortage of talent to cater to the growing business needs.
BUSINESS
Metaverse no longer a buzzword. Retail, shopping, gaming adapting very quickly: Infosys’ Ravi Kumar S
From Meta, formerly Facebook, and Microsoft, to gaming giants, everyone wants a slice of the rapidly evolving and growing Metaverse. Infosys, which counts clients in industries such as retail, banking, and financial services, among others, sees opportunities to redefine the way people shop, work, transact and learn.
BUSINESS
Infosys launches Metaverse Foundry, says has already developed 100 use cases
The move comes at a time when companies around the world are putting a huge focus on the metaverse. From Meta, formerly Facebook, and Microsoft, to IT services providers, the companies are investing significantly in the space.
BUSINESS
TCS starts taking small virtual steps towards metaverse
Krishnan Ramanujam, president and head of business and technology services, says, “In terms of deals, a lot of proactive proposals we have put in for the customers. But currently they are small.”
