Digital initiatives of several global enterprises have been cancelled or postponed in the last couple of months as the Covid-19 crisis has prompted firms to halt non-revenue-generating ventures. “There is acceleration in shutting down of digital initiatives of enterprises that are either loss-making or are not core operations of these companies. This is being done as companies are looking to conserve cash to tide over the crisis,” said
IT firms to face heat as global enterprises put digital projects on hold
Digital initiatives of several global enterprises have been cancelled or postponed in the last couple of months as the Covid-19 crisis has prompted firms to halt non-revenue generating ventures
 "Information Technology, jobs, IT, Company,, firms, workers, staff, employees")
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Currently, most tier-1 IT services firms like Infosys, Tata Consultancy Services, and Wipro draw about 40 per cent of revenues from digital services.
Digital initiatives of several global enterprises have been cancelled or postponed in the last couple of months as the Covid-19 crisis has prompted firms to halt non-revenue-generating ventures. “There is acceleration in shutting down of digital initiatives of enterprises that are either loss-making or are not core operations of these companies. This is being done as companies are looking to conserve cash to tide over the crisis,” said
Topics : Coronavirus Lockdown Indian IT firms IT services IT-ITeS sector Lufthansa General Motors Walmart
First Published: May 28 2020 | 9:14 PM IST
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