Business Standard

An inflexion point

IT industry can change fundamentally

IT Industry, IT, Information Technology, Office, Job
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For several quarters, the information technology (IT) industry has been cautious, pointing to concerns about margin pressures, slow demand, and a high employee churn. Company after company provided similar careful guidance, and said clients were cutting discretionary IT expenditure, budgeting only for projects with an instant cost-cutting impact or immediately positive revenue implications. The news that Tata Consultancy Services (TCS) and insurer Transamerica have decided to terminate a $2 billion contract due to the challenging macro environment is a pointer that these worries were not unfounded. The deal in question, signed in 2018, involved TCS working with US-based Transamerica to

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First Published: Jun 19 2023 | 10:32 PM IST

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