Page 11 - It Companies

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.

Client conversations dominated by ChatGPT, says TCS COO Subramaniam

He also said that clients are interested in knowing how ChatGPT and generative AI can be integrated into their offerings

TCS attrition rate drops to 20.1%, remains far from pre-pandemic levels

The total headcount of TCS stands at 614,795 as on March 31, 2023

Japanese IT major, Fuji Soft group to open centre of excellence in Odisha

Japanese IT major Fuji Soft Group has proposed to open a centre of excellence (CoE) in Bhubaneswar, an official statement said. The proposal was made during the Odisha business delegation's visit to Japan, where Chief Minister Naveen Patnaik led discussions with major players in the Japanese IT and IT-enabled services sector. The CoE would add to the burgeoning field in Bhubaneswar, which is already a happy hunting ground for marquee labels, the statement said. NITKAL (Nihon-UTKAL) has also tied up with Odisha University of Technology and Research to set up a dedicated skill development centre to cater to the huge demand for trained workforce in Japan. NITKAL is undertaking a dialogue with IIIT, Bhubaneswar for establishing a dedicated Japan-centric centre for skill development, it said. NYK Lines (Nippon Yusen Kabushiki Kaisha) evinced keen interest in setting up dedicated shipping lanes from Paradeep, Gopalpur or Dhamra port to transport green ammonia to Southeast Asia and ...

Small & medium IT firms hit by high attrition rate after lockdown: Survey

Small and medium IT companies are yet to recover from the impact of the Covid-19 induced lockdown because of the high attrition rate of their employees after upskilling, according to a survey. According to the survey by Micro Small and Medium Enterprises -Export Promotion Council (MSME-EPC), the highest attrition rate of 35 per cent is being seen in small and medium sector technology companies after the lockdown, in which skilled employees leave their companies for higher wages. After this, the attrition rate is 27 per cent in the services sector. Due to this, the hopes of returning to normalcy after the epidemic in these areas have been hit. Releasing the report of this survey of 700 IT units on Wednesday, D S Rawat, Chairman, MSME-EPC, said that a large number of employees in MSME sector companies are going to other companies for higher salaries after learning the work. Due to this, these companies are still not able to recover from the shock of the lockdown. Companies in the ...

98% senior IT leaders struggle with increasing cloud complexity: Report

Top challenges in optimising multi-cloud environment are lower in the US, UK, India, finds NetApp

Infosys announces Kiran Mazumdar-Shaw's retirement from company's board

D Sundaram appointed lead independent director of IT services company

India to see avg salary hikes of 10.2% in 2023, biggest in e-commerce: EY

Average salary hikes in India will be lower in 2023 compared to 2022, says EY's 'Future of Pay 2023' report. E-commerce, professional services and IT to the biggest hikes

US, Europe banking woes likely to hit Indian IT companies' growth

Indian IT players like TCS, Infosys, Wipro, HCL Technologies, Mphasis, and LTIMindtree have exposure to some of the troubled banks

Accenture to acquire AI company Flutura; deal terms not disclosed

This is Accenture's third acquisition of such a company in India in recent years

Rajesh Gopinathan quits as TCS CEO; K Krithivasan appointed CEO-designate

Krithivasan shall take over as the CEO and MD of TCS in the next financial year

Irrational exuberance pulled IT companies down in FY23: NASSCOM chairman

Delayed decision-making, economic uncertainty, and inflation along with demand contraction in some markets are expected to be the major headwinds for the sector

As IT firms delay onboarding, experts call it ethically and morally wrong

Wipro's salary cut at the fresher level is perhaps the first ever instance in the industry

Wipro salary cut for Turbo freshers raises alarm bells for Elite candidates

On February 21, Wipro asked the candidates hired under the Turbo programme at Rs 6.5 LPA if they would be interested to join the company at Rs 3.5 LPA

IT firms tighten employee scrutiny amid high costs, thin margins: Report

The senior employees who have been hired at a premium over the past two years will also face a greater degree of scrutiny

Infosys fires 600 freshers after they fail internal assessment: Report

This comes at a time when hundreds of freshers are waiting for their joining dates at Infosys even though they received the offer letter months ago

Job growth in Indian IT sector declines 25% over corrections in hiring

The hiring intent declined across both large IT giants and unicorns, while trends across other IT startups remained stable as compared to last year, according to a report by naukri.com