Page 30 - Infosys

Infosys rolls out a 60% average variable payout; Wipro's at 80.2%

IT company Infosys has decided to roll out a 60 per cent average variable payout for its employees for Q4 FY23, while for Wipro the payout stands at 80.2 per cent, according to sources. In an internal communication to employees, Infosys said that the Performance Bonus recommendation for Q4 FY2022-23 has been completed, and the payout is scheduled to take place in May 2023 payroll. Infosys' average payout stood at 60 per cent for Q4 FY23, according to a source. For Wipro, the variable payout for the fourth quarter of FY23 is at 80.2 per cent, a person familiar with the development said. An e-mail sent to Infosys went unanswered, and Wipro declined to comment. It is pertinent to mention that the Q4 scorecard and outlook given by several IT companies missed street estimates amid global uncertainties, and market watchers expect the next few quarters to be choppy given the prevailing customer sentiments across BFSI, technology services and certain other verticals, particularly in the U

Sign of the times: Infosys cuts employees' variable pay for Q4 FY23 to 60%

In a sign of approaching headwinds, IT firm Infosys has cut the average variable payout at an organisational level to 60 per cent for the fourth quarter of the financial year 2022-23 (FY23), according

Has the correlation between the Nifty IT index and the NASDAQ ended?

The gain in NASDAQ thus far in CY23 was largely fueled by Google, Apple, Amazon, Netflix and Meta Platforms - also known as the FAANG stocks.

Infosys, bp deepen relationship to transform digital application landscape

The companies will continue to explore more avenues for bp to advance sustainability, DE&I and other social impact initiatives

IT major Infosys rewards employees with equity shares under 2 schemes

Under the 2015 Stock Incentive Compensation Plan, 104,335 equity shares were allotted and 407,527 shares were allotted under the Infosys Expanded Stock Ownership Program 2019

TCS to develop its own ChatGPT with focus on enterprise code generation

TCS is expected to release some of these solutions by the last quarter of this financial year

IT firms give staffing companies a miss, fill vacancies internally

Companies were doling out up to 100 per cent hikes to hire top IT talent only a year ago, the situation has completely changed today

My daughter made her husband a PM: Rishi Sunak's mother-in-law Sudha Murty

Akshata Murty married UK Prime Minister Rishi Sunak in 2009 and the latter made a quick rise to power in the years that followed

Infosys partners with Walmart Commerce Technologies to help retailers

Indian IT services company Infosys on Wednesday said it has joined hands with Walmart Commerce Technologies to help retailers harness technology solutions that simplify customer and store employee experiences. Infosys will help retailers implement and use Store Assist, which enables them to provide "seamless omnichannel experiences" such as pickup, delivery and ship from store for both employees and customers, the company said in a statement. "Infosys today announced a new collaboration with Walmart Commerce Technologies to help retailers leverage technology solutions that simplify customer and store employee experiences," it said. It is pertinent to mention that Infosys has a consumer and retail focused practice that has been helping retailers, consumer tech, consumer packaged goods and logistics companies navigate their way through digital and emerging technologies over the last three decades. Through platforms like Infosys Equinox, partner products, and leading digital ...

Infosys launches live operations platform in collaboration with ServiceNow

The company plans to boost customer experience for telecom service providers

Infosys, Aramco ink pact to create digitally connected employee experiences

Infosys plans to embed digital transformation practices and tools into Aramco's HR platform, enhancing the overall digital experience for employees to engage more productively

HCL bucks the trend; says it intends to hire as others continue to fire

The firing spree was not limited to back-office jobs and affected big tech companies, including Amazon, Meta, Microsoft, and Google parent Alphabet, among others

Attrition in IT firms to go back to pre-pandemic levels by October: Experts

In their Q4 results, two of the three IT majors in India, TCS, and Infosys, showed that high attrition was still a problem

8 of top 10 firms lose Rs 1.17 trn in mcap; Infosys biggest laggard

Eight of the 10 most valued firms faced a combined erosion of Rs 1,17,493.78 crore in market valuation in an overall weak trend in equities last week, with Infosys taking the biggest hit. Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank and ICICI Bank were among the eight companies that suffered a decline in their valuation. ITC and State Bank of India were the only gainers. Last week, the 30-share BSE Sensex fell by 775.94 points or 1.28 per cent. The market valuation of Infosys plummeted by Rs 66,854.05 crore to Rs 5,09,215 crore. Infosys Ltd on April 13 reported lower-than-expected growth in the fourth quarter net profit and gave a weak 4-7 per cent revenue growth guidance for FY24 amid tightening of IT budgets by clients following turmoil in the US banking sector. HDFC Bank's valuation tumbled Rs 10,880.5 crore to Rs 9,33,937.35 crore. ICICI Bank lost Rs 10,462.77 crore from its valuation which stood at Rs 6,17,477.46 crore and the market capitalisation (mcap) o

IT stocks drag indices to first weekly decline in nearly a month

Disappointed results for Infosys and TCS this week dampened the mood

Tech M sheds 9% in 5 days on JP Morgan, Citi downgrades, target price cuts

Tech Mahindra's stock fell 2.6 per to its day's low of Rs 994.55 on Friday after JP Morgan downgraded the stock to 'underweight' from 'neutral', slashing its target price by 10 per cent to Rs 900

Big 4 push the tech button, look to expand IT service presence in India

The big four are best known for their accounting and audit services globally. However, with time, they have added several more services to their work

Weak guidance, muted sentiment to weigh on near term IT outlook

There could be more downsides if the rest of IT pack disappoints

After a Covid hiatus, West Bengal feels the infotech buzz again

After a Covid hiatus, the state's IT hubs are seeing the big names in the business setting up or expanding operations

Sensex snaps 9-day rally, sinks 520 pts; Infy cracks 9%; banks limit losses

CLOSING BELL: The BSE IT index plunged 4.7 per cent, while the FMCG and Bankex gained 1 per cent and 0.3 per cent, respectively. Midcap and SmaIlcap indices too outperformed in trades on Monday.