Page 10 - It Companies

ESG metrics of IT services companies turn crucial in winning deals

In a recent Gartner survey, more than half of the end users indicated that sustainability is a "must-have criterion" in the selection of service providers

More mid-senior level exits seen with change of leadership at IT companies

This is because a CEO's departure can disrupt ongoing projects and initiatives, causing delays and impacting employee morale, say experts

Top-deck Indian IT companies need to rightsize bench size: Experts

To address this challenge, IT services companies can prioritise rightsizing their bench strength

TCS records higher attrition rate among women than male colleagues in FY23

Lack of caregiving duties has impacted female workers during the Covid-19 pandemic, but with companies such as TCS, returning to work-from-office culture, many have chosen to opt out of the workforce

Course5 Intelligence announces second close of $53 million funding round

Investment was led by Nuvama Asset Management, with participation from Carnelian Asset Advisors

IT cos need to rightsize bench to boost efficiency, stop layoffs: Experts

While other industries have single-digit bench sizes, tech firms typically have a larger bench size of as much as 30%, they say

Top 4 IT companies see 40% drop in large client additions in FY23

Infosys is the only IT firm whose net client addition remained flat at 23 in FY23. All the other firms added fewer clients

IT firms hired more women in 2022-23, 6.5% growth registered: Survey

A survey conducted by staffing firm Xpheno found that the proportion of women employees increased 6.5% at the top IT companies in FY23

Cognizant rejig to cost $400 mn over 2 years, to lay off 3,500 employees

The company's bookings for the quarter stood at $25.6 billion on a trailing 12-month basis, up from $24.1 billion in the fourth quarter (Q4) of 2022

Cognizant to focus on increasing presence in smaller Indian cities

International IT services company says it will lay off 3,500 employees and redistribute physical workplaces

Cognizant to lay off 3,500 employees in 2023 amid declining revenue

In the quarter ended March 31, the company reported a margin of 14.6%, among the lowest in the industry

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

IT firm Coforge actively scouting for acquisition in data, cloud: CEO

IT company Coforge is actively scouting for acquisition in areas such as data, cloud, healthcare and 'low-code no-code' space, according to its Chief Executive Officer Sudhir Singh. The company "has a few conversations going on right now", Singh said adding both financial and cultural match will be an important consideration. "We are actively looking for assets in the data space, cloud space, Salesforce space or the healthcare space...We are also looking for acquisitions in the low-code, no-code space, so these four or five areas are important for us," Singh told PTI. It is pertinent to mention that low-code and no-code are alternative app development methods that use intuitive, graphical interface and pre-configured templates to give users power and flexibility to create applications and automate processes without having to write line-after-line of codes. The company is "very keen" on buyouts, but will not rush into it. Coforge is not under any pressure and if the valuations are n

Uncertainties significant, but order book at record high: Coforge CEO

'Macroeconomic environment 'significantly uncertain, but varies across industries: Sudhir Singh

Wipro Q4 net profit dips 0.4% to Rs 3,074.5 crore; revenue rises 11.7%

The IT major also approved a share buyback for 2.69 crore shares at Rs 445 per share

Coforge net profit falls 44.7%; IT firm declares dividend of Rs 19/share

On the milestone of crossing the revenue mark of $ 1 billion, the company will gift an Apple iPad to each of its employees

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

Losing favour: IT sector weighting in Nifty50 at 5-year low of 12.2%

Gives up most of the gains in market cap in post-pandemic period

HCLTech Q4 results: Profit jumps 11% to Rs 3,983 crore; revenue up 18%

The company added 4,480 new employees in the quarter, while the net addition was at 3,674

HCL Technologies digital business services head Anand Birje quits

IT company HCL Technologies' digital business service head Anand Birje has resigned, the firm said on Thursday. Birje was based out of San Francisco. He has been with HCL Technologies for the last 20 years. "Anand Birje, head of Digital Business Services has decided to leave HCL Technologies Ltd to pursue another opportunity. Anand joined HCL Tech in 2003 in Infrastructure Services sales, moved on to lead the D&A practice in 2017 and later became the head of Digital Business Services in 2021," the company said in a regulatory filing. There have been several churns of high-level officials in Indian technology companies, including the exits of Infosys president Mohit Joshi and Tata Consultancy Services CEO Rajesh Gopinathan. HCL Tech said it continues to have a stable senior talent pipeline and would announce the new leadership shortly. "Anand will continue to serve till May 5, 2023. We deeply appreciate his contributions to the company," HCL Tech said.