Page 6 - Indian It Firms

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.

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

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

Accenture's outsourcing guidance bodes well for big Indian IT cos: Analysts

Analysts underscored that Accenture's August quarter (Q4FY22) results reflected softening of demand for IT services, and thus remain 'cautious' on the sector

IT firms resort to work-from-home as Bengaluru rain fury intensifies

India's best-known IT firms and startups have asked staff to work from home as torrential rains brought chaos on streets of the technology hub, marooning roads and snapping water and electricity supplies. While parts of the city that houses several global companies and home-grown startups, were under water, operations in IT firms and startups were largely unaffected as most of them had power backup and a hybrid work environment where some employees logged in from home. But some of the posh housing colonies were flooded and tractors were pressed into service to rescue residents. As rains disrupted traffic and threw lives out of gear, footages of IT workers travelling in tractors to reach workplace amid heavy waterlogging in the city, also surfaced on social media platforms. "All our associates at Bengaluru are safe. We are closely monitoring the situation and our delivery teams have been advised to exercise due caution," a spokesperson of Tata Consultancy Services (TCS) said. It ..

IT firms increase scrutiny of employees amid moonlighting trend: Report

IT firms now have started to clamp down on such activities, as the companies think moonlighting affects employees' productivity and creates conflicts of interest

IT firms cut staff bonuses as US, European clients tighten budgets

IT services firms are freezing or cutting staff bonuses, worried that tightening budgets at U.S. and European clients who are bracing for a recession will sharply hit their own profits

Indian IT firms cut staff bonuses as US, European clients tighten budgets

Infosys Ltd, India's second-biggest IT company, and smaller rival Wipro recently told their employees they had reduced the variable pay portion of employee compensations

IT services companies' salary costs growing faster than revenues

The six IT services firms, on average, earned net sales of around Rs 38 lakh per employee in FY22, up from Rs 33.5 lakh in FY17 and Rs 37.3 lakh in FY20

US retailer Macy's tech expense cut likely to hurt Indian IT giants

Macy's is among the first US retailers to announce spending cuts

'Have enough headroom to improve margins going ahead,' says Wipro CFO

The margin for India's fourth-largest IT services firm declined 200 basis points over the previous quarter.

TMSEp211: SpiceJet, Reliance Retail, estimated IT earnings, forex reserve

Can the SpiceJet incident be brushed aside as a blip? What is Reliance Retail's growth strategy? How will TCS Q1 results set the stage for IT earnings? What is a forex reserve? All answers here

Cloud, security to be priority even if recession hits US: Morgan Stanley

The report suggests limited near-term impact for Indian IT services players, but commentary on FY24 will be crucial

Strong order book, high attrition: What Accenture's Q3 means for Indian IT

Accenture Q3 results: Strong outlook and robust bookings reflect the secular nature of demand for IT services in the near-term, though medium-term risks persist, said analysts

Persistent to hit $1 bn annual revenue rate in FY23; to hire 3,000 freshers

The Pune-headquartered company posted a 42 per cent jump in revenue to $217 million in the March quarter, when it witnessed a 45.9 per cent growth in net profit at Rs 200.9 crore

Double taxation relief for Indian IT companies operating in Australia

Both the trade deal and changes to domestic Australian tax laws will come into effect once the Australian Parliament ratifies the deal after the general elections due in May are completed in Australia

TCS world's second most valuable IT brand, Infosys fastest growing: Report

Indian IT firms outpace US competitors in Brand Finance IT services ranking

Acquisitions, strong growth outlook likely to limit downside for Wipro

Prior to the recent rally, the stock had been an underperformer

Infosys to hire 45,000 freshers in FY22 after spike in Q2 attrition numbers

Company COO Pravin Rai says the current scale of war for talent was not seen in past three decades

HCL signs up with Korea's HANCOM for global expansion, tech solutions

HCL will support training for software development at HANCOM's in India research and development centre, which was established in 2016.