Page 15 - It Companies

TCS beats Street estimates in Q2, net rises 8.4%; attrition remains high

Net profit has crossed the Rs 10,000-crore mark for the first time

IT firms seen logging steady sequential growth in Q2: Brokerages

Indian IT services companies are expected to log steady sequential revenue growth in September quarter but an overhang of weak global cues tinged with macro risks will put spotlight on management commentary around deal momentum and demand outlook, say analysts. Brokerage reports and analysts' notes on Q2 earnings preview anticipate reasonably strong growth quarter for Indian IT firms despite challenging macroeconomic scenario in the US and Europe, but there are fair bit of warnings around "incremental pockets of weakness" or "slowdown in coming quarters". The sunny, all-bullish demand narrative just a few quarters back has made way for more cautious and tempered expectations as storm clouds over global economy prompt economic commentators to flash warnings about recession risks and international market shocks. Reports suggest that the US-based companies, including many tech firms, have cumulatively laid off thousands of employees in 2022 alone, and slammed brakes on hirings. Back .

Infosys again faces legal action for age and gender discrimination in US

Infosys' motion to dismiss the claims made by the executive was rejected by a judge from the US District Court

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

Colleges optimistic of bumper recruitment on rise in pre-placement offers

Mid-rung engineering, management colleges see double-digit growth in offers, and a big rise in average pay packages

IT companies to hire 20% less people in next financial year: Report

Despite strong indicators in the software market, Indian tech companies have been facing high attrition and narrowing margins, its impact is most likely to be faced during the hiring of freshers

Wipro asks employees to report to office at least three days a week

The firm's office will remain open for four days each week

Wipro, Infosys, TechM revoke offer letters given to freshers: Reports

Top IT and tech firms like Wipro, Infosys and Tech Mahindra have reportedly revoked offer letters given to students after delaying their joinings by nearly three-four months

India Inc turns to tech, outreach to get quiet quitters motivated, engaged

A few companies are also stepping back to give their employees reboot time

80% of IT employees need better reason to go to office, says report

Several companies, the report claims, have introduced higher variable pay and employee engagement budgets while cutting down the internet allowance to make employees return to the office

'Contrary to core values': Oracle reacts after SEC fine over slush funds

Indian employees of US tech giant used discount scheme in dealing with transportation firm owned by railways ministry: Regulator

Moonlighting: Well, why not?

The writing is on the wall, but many businesses will take a while to recognise that the transition to working from home and gig-work is permanent

Moonlighters beware: Companies may start using digital tools to track them

Nasscom calls for firms to re-imagine engagement models

Accenture sees Q1 revenue below estimates due to currency volatility

For the full year, the company reported revenue of $61.6 billion an increase of 22 per cent in the US dollar terms

Will IT stocks continue to underperform?

As the US central bank continues to paddle on monetary tightening, will the underperformance of Indian IT shares continue? We find out in this report

Goldman cuts Infosys, TCS to 'sell' on looming slowdown, upgrades Wipro

Goldman said it remains 'more sanguine' on EBIT margin forecasts than on revenue of IT firms, given multiple levers such as higher employee utilisation, controls on variable pay and annual wage hikes

Freshers take to social media as IT companies delay onboarding process

The IT companies, including Wipro, Infosys, and HCL have, however, stated that all the offers made will be honoured

Co-working space demand rises in H1 even as IT sector share dips

Average monthly office rentals rise across cities, highest in NCR and Hyderabad at 5%

Karnataka BJP leader holds IT companies responsible for devastating floods

The government did not charge for road digging and spent Rs 3,000 crore to provide free services at that time. Mohan Das Pai seems to have forgotten about this fact, Ramesh explained

Will margin pressures end the Indian IT sector's glory days?

Indian IT companies are experiencing margin pressure. This has forced leading IT firms to reduce or withhold employee bonuses. How long will IT companies face this pressure? Is there a solution to it?