Page 4 - It Companies

IT deals becoming smaller amid rising digital projects, says new report

The terms of a smaller deal can be chosen according to their own personal advantage by the parties in a smaller contract

Coforge Q2 net profit rises 36.6% to Rs 220 crore, revenue up 19.9%

The board has recommended an interim dividend of Rs 13 per share, with the record date for payout on 4 November 2022.

Infosys allows employees to take up gig work with managers' prior consent

Several IT companies including Tata Consultancy Services (TCS), HCLTech, IBM, and Wipro have opposed moonlighting, calling it an ethical issue as well as a breach of employee code

Indian IT companies cut hiring amid US, Europe recession fears: Report

Several CEOs of IT companies in India have said that companies need to be cautious amid macroeconomic uncertainties

Channelling tech talent: IT majors face headwinds, may cut hiring in India

A Nasscom report indicates that digital core talent has grown faster than IT core talent, as companies undertook skilling initiatives to reorient the workforce.

Demand outlook robust; attrition to cool off in Q3 FY23: L&T Infotech COO

This should be the last quarter as an independent entity, merger to complete between November-December, said COO Deshpande

FY23 will likely be double digit on revenue...and profitable: Mindtree MD

In a Q&A, Debashis Chatterjee, who is also the firm's CEO, talks about the demand environment, merger with LTI and moonlighting

Infosys Q2 net profit rises 11% to Rs 6,021 cr, raises its FY23 guidance

Bloomberg had estimated revenue to be Rs 36,564 crore and net profit at Rs 5,902 crore

Finance, consulting firm jobs make up for the loss in IT sector placements

However, IT companies have also been strategic in the extent of hiring cuts that have varied from campus to campus

Attrition to continue to spike even as IT biggies reduce hiring: Experts

HR experts also point that pre-pandemic industry attrition was in the range of 12-13 per cent, to come back to that level is going to take some time.

Wipro's Q2 profit slips 9.2% amid high employee costs; revenue up 14.6%

Attrition for the quarter was at 23 per cent, down from 23.3 per cent from last quarter

HCLTech restructures the top management with a new COO and CHRO

VV Apparao, who has worked as the company's Chief Human Resources Officer (CHRO) since 2017, will now take over as the chief delivery officer for nearshore.

A viral tweet explains how Wipro caught its employees moonlighting

Taking a tough stand against those involved in moonlighting, IT services giant Wipro sacked 300 employees in September; here's how they caught the moonlighters

Cisco launches India Webex infra, sees permanent shift to hybrid work model

Facility's dedicated data centre will enable Cisco to offer India-specific pricing for its customers, taking down costs by over 50%

TCS to give full variable pay to 70 per cent employees in Q2FY23: Report

In Q2FY23, TCS saw an eight per cent year-on-year (YoY) jump in its net profit to Rs 10,465 crore, beating the estimates

As consulting firms enter tech, problems grow for Indian IT companies

European clients, which typically account for a quarter to a third of Indian firms' sales, are almost certain to cut their tech budgets - at least until the war in Ukraine comes to an end

TCS beats Street estimates in Q2, net rises 8.4%; attrition remains high

Net profit has crossed the Rs 10,000-crore mark for the first time

IT firms seen logging steady sequential growth in Q2: Brokerages

Indian IT services companies are expected to log steady sequential revenue growth in September quarter but an overhang of weak global cues tinged with macro risks will put spotlight on management commentary around deal momentum and demand outlook, say analysts. Brokerage reports and analysts' notes on Q2 earnings preview anticipate reasonably strong growth quarter for Indian IT firms despite challenging macroeconomic scenario in the US and Europe, but there are fair bit of warnings around "incremental pockets of weakness" or "slowdown in coming quarters". The sunny, all-bullish demand narrative just a few quarters back has made way for more cautious and tempered expectations as storm clouds over global economy prompt economic commentators to flash warnings about recession risks and international market shocks. Reports suggest that the US-based companies, including many tech firms, have cumulatively laid off thousands of employees in 2022 alone, and slammed brakes on hirings. Back .

Infosys again faces legal action for age and gender discrimination in US

Infosys' motion to dismiss the claims made by the executive was rejected by a judge from the US District Court

Pay gap rising between freshers and top management in Indian IT companies

The packages of freshers have increased marginally, by 20 per cent, since 2010, while the packages of CXO-level employees have gone up by 70-90 per cent