Page 14 - It Companies

Covid impact shows that work can be done remotely: Wipro's Rishad Premji

IT companies facing high attrition because they chase the same talent pool and should widen their search, he says

Tech Mahindra working on a policy to allow moonlighting: C P Gurnani

Employees will need prior permission; no-tolerance policy will be followed if they hide, he adds

Infosys to take shareholders' nod for Rs 9,300-crore share buyback

Infosys will seek shareholders' nod for its proposed Rs 9,300 crore share buyback between November 3 to December 2 through postal ballot, the company said in a regulatory filing. The Infosys board on October 13 had announced a share buyback of Rs 9,300 crore via the open market route, for a price not exceeding Rs 1,850 per equity share. "...the Company is required to obtain the approval of its Members for the Buyback by way of a special resolution through Postal Ballot or at a general meeting by providing the facility to Members to vote by electronic means. Accordingly, the Company seeks your approval for the Buyback through this Postal Ballot Notice," the filing said. The board decided to return approximately 85 per cent of the free cash flow cumulatively over a five-year period through a combination of semi-annual dividends, share buyback, special dividends etc. "The Company has engaged the services of NSDL for the purpose of providing e-voting facility to all its members. The ..

India, Australia discuss early closure of trade deal signed 7 months ago

Both nations to hold annual joint ministerial commission meeting early next year

Rising offshore revenue to be growth huge lever for years: Coforge CEO

The IT solutions provider has posted a consolidated net profit of Rs 220.6 crore for Q2FY23, up 36.6% YoY. Its revenue growth was driven by offshoring expansion

Kerala-based IT firms secure business leads worth Rs 80 crore at GITEX

Over 2,000 business leads worth Rs 80 crore were generated by the IT companies from Kerala which took part in the recently concluded global IT exhibition (GITEX) at the Dubai World Trade Centre in the United Arab Emirates (UAE). Thirty IT companies from the three IT parks in Kerala -- Technopark, Infopark and Cyberpark -- showcased their products and service at the GITEX. "Nearly two dozen business deals have been finalised by various companies during the 5-day event," Kerala IT Parks said in a release. The pavilion of the Kerala IT parks at the expo was organised by group of technology companies (GTech), an industry body of IT and business process management (BPM) organisations in Kerala, it said. The event attracting the best IT talent and IT solution seeking entrepreneurs from around the globe was a perfect platform to network and partner up with a number of entities. CEO of Kerala IT Parks Snehil Kumar Singh said the IT sector in the State was witnessing fast-paced growth and

Moonlighting is a conflict of interest, says IBM to its employees

IBM has asked its employees to refrain from engaging in a second job or gig in any capacity and has declared it as against the company contract

Tech Mahindra to consider interim dividend for FY23 in board meeting

The company, in its exchange filing last week, informed that the board of directors will consider a proposal for payment of interim dividend for the financial year 2022-2023, during its scheduled meet

IT deals becoming smaller amid rising digital projects, says new report

The terms of a smaller deal can be chosen according to their own personal advantage by the parties in a smaller contract

Coforge Q2 net profit rises 36.6% to Rs 220 crore, revenue up 19.9%

The board has recommended an interim dividend of Rs 13 per share, with the record date for payout on 4 November 2022.

Infosys allows employees to take up gig work with managers' prior consent

Several IT companies including Tata Consultancy Services (TCS), HCLTech, IBM, and Wipro have opposed moonlighting, calling it an ethical issue as well as a breach of employee code

Indian IT companies cut hiring amid US, Europe recession fears: Report

Several CEOs of IT companies in India have said that companies need to be cautious amid macroeconomic uncertainties

Channelling tech talent: IT majors face headwinds, may cut hiring in India

A Nasscom report indicates that digital core talent has grown faster than IT core talent, as companies undertook skilling initiatives to reorient the workforce.

Demand outlook robust; attrition to cool off in Q3 FY23: L&T Infotech COO

This should be the last quarter as an independent entity, merger to complete between November-December, said COO Deshpande

FY23 will likely be double digit on revenue...and profitable: Mindtree MD

In a Q&A, Debashis Chatterjee, who is also the firm's CEO, talks about the demand environment, merger with LTI and moonlighting

Infosys Q2 net profit rises 11% to Rs 6,021 cr, raises its FY23 guidance

Bloomberg had estimated revenue to be Rs 36,564 crore and net profit at Rs 5,902 crore

Finance, consulting firm jobs make up for the loss in IT sector placements

However, IT companies have also been strategic in the extent of hiring cuts that have varied from campus to campus

Attrition to continue to spike even as IT biggies reduce hiring: Experts

HR experts also point that pre-pandemic industry attrition was in the range of 12-13 per cent, to come back to that level is going to take some time.

Wipro's Q2 profit slips 9.2% amid high employee costs; revenue up 14.6%

Attrition for the quarter was at 23 per cent, down from 23.3 per cent from last quarter

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.