Page 18 - It Companies
IT companies may shed up to 40,000 mid-level employees: Mohandas Pai
'It's going to happen again and again and again every five years,' said Pai
 "IT companies may shed up to 40,000 mid-level employees: Mohandas Pai")
IT companies look to cut jobs at mid, senior levels in coming quarters
As hiring in US rises, with resulting cost pressure, these staffers in India are at risk; advent of digital tech another reason
 "IT companies look to cut jobs at mid, senior levels in coming quarters")
Overall hiring intention of IT employers drops 5 percentage points: Survey
The report further noted that Indian IT companies intend to hire mostly freshers, up to five years experience
 "Overall hiring intention of IT employers drops 5 percentage points: Survey")
Whistleblower stings Infosys again; alleges irregularities in accounting
Experts say no significant diversion from past accounting practices reported by the IT firm in recent quarters
 "Whistleblower stings Infosys again; alleges irregularities in accounting")
Oracle to hire 2,000 workers to expand cloud business to more countries
Jobs will be added in Oracle's software development hubs in Seattle, the San Francisco Bay Area and India
 "Oracle to hire 2,000 workers to expand cloud business to more countries")
Q2 earnings: Top IT services companies likely to report steady growth
Analysts are still cautious about the outlook for the banking, financial services and insurance (BFSI) vertical
 "Q2 earnings: Top IT services companies likely to report steady growth")
Rupee's fall may not prop up the margin of IT companies: Analysts
Higher attrition, elevated sub-contracting costs and pricing pressure are likely to negate benefits from a weak domestic currency
 "Rupee's fall may not prop up the margin of IT companies: Analysts")
Rupee fall against dollar likely to spur margins of IT companies
But a weakening pound sterling may erode some of the gains
 "Rupee fall against dollar likely to spur margins of IT companies")
IT companies fume over double taxation avoidance treaty with Australia
India is the leading sourcing destination across the world, accounting for approximately 55 per cent market share of the $185-190 billion global services sourcing business in 2017-18
 "IT companies fume over double taxation avoidance treaty with Australia")
Restrictions hurting our operations in China, IT industry tells Goyal
Despite the Chinese IT services market remaining the third largest globally, investments by the Indian industry have not been able to grow owing to unique challenges faced while setting up shop
 "Restrictions hurting our operations in China, IT industry tells Goyal")
Scarcity of talent likely to hit IT companies' forecasts for FY20
Indian IT services firms such as TCS and Infosys have announced a record number of deal closures in the past couple of quarters
Stronger rupee in Q1 may spell trouble for margins of IT companies
Wage hike in April-June and rising onsite cost regarded as other headwinds to margin profile of IT companies.
 "Stronger rupee in Q1 may spell trouble for margins of IT companies")
Margin pressures for IT companies in March quarter as business costs rise
Revenue growth, however, is expected to be robust due to a strong deal pipeline.
 "Margin pressures for IT companies in March quarter as business costs rise")
Stronger rupee, slower growth likely to hit IT firms' performance in 2019
The bigger worry is the concern around slowing growth in the US and Europe - the biggest markets of IT majors - accounting for more than 75 per cent of the revenue
 "Stronger rupee, slower growth likely to hit IT firms' performance in 2019")
IT companies eye $80-billion pie as contracts up for renewal in 2019
Indian players traditionally quite active in deal renewal space
 "IT companies eye $80-billion pie as contracts up for renewal in 2019")
Fast-changing large IT services contracts come with strings attached
Clients want to pass on risks to vendors as they push cost optimisation
 "Fast-changing large IT services contracts come with strings attached")
From TCS to Infosys, top four IT firms double net staff addition in Q2
Doubled in September quarter at top four; net rise in first half more than twice than in all of 2017-18
 "From TCS to Infosys, top four IT firms double net staff addition in Q2")
IT companies to benefit from currency, lower visa applications in Q1
TCS, Infy likely to post better numbers; HCL Tech may overtake Wipro in quarterly revenues
 "IT companies to benefit from currency, lower visa applications in Q1")
BFSI commentary, large deal wins to drive outlook for IT companies
Cross-currency movements expected to help Indian firms deliver strong growth in Q4FY18
 "BFSI commentary, large deal wins to drive outlook for IT companies")
IT ministry writes to nine more smartphone firms on data security
Motorola, Honor, Asus, OnePlus, InFocus have been added to list, taking the total to 30
 "IT ministry writes to nine more smartphone firms on data security")
