Page 16 - It Companies

TCS changes its hike structure, does away with anniversary hikes

The changes come at a time when the industry is seeing demand constraints from its majority market and budgets are under pressure and deals are taking time to close

Falling margins, high attrition, moonlighting causing trouble for IT sector

Wipro, one of the four IT majors in India, announced that it will withhold the variable pay of mid, and senior-level employees for the June qtr (Q1FY23) due to poor financial health

Indian IT firms cut staff bonuses as US, European clients tighten budgets

Infosys Ltd, India's second-biggest IT company, and smaller rival Wipro recently told their employees they had reduced the variable pay portion of employee compensations

Slowdown in hyper-scalers could impact the revenue of the IT companies'

Major IT companies in India including Tata Consultancy Services (TCS), Wipro, Infosys and HCL earn nearly 50 per cent of their revenue from digital solutions supported by hyper-scalers like AWS, Azure

Employees will get 100% variable pay for June quarter, no delay: TCS

So far, more than 90 per cent of TCS employees have received the variable payout, according to the largest software exporter in India.

Startups increasingly raising venture debt as investors fear funding winter

Most investors are more cautious in deploying capital towards growth businesses, especially in late-stage startup investments, which are key drivers in a funding cycle

Wipro holds back employees' variable pay due to pressure on margins

IT company Wipro has held back variable pay of employees mainly due to pressure on margins, inefficiency in its talent supply chain and investment in technology, according to sources

India Inc tells employees to return to office; IT firms take the lead

Wanting its employees to trade in their sweatpants for a sharp suit as Covid cases rise

Founders built incredible organisation; Infosys in stable position: Parekh

Salil Parekh, has praised the company's founders for building an "incredible organisation", and exuded confidence that the firm which "has always been solid" will "continue with that stability.

IT industry's 'people' conundrum may delay its revenue growth targets

The current talent crisis may delay the industry's efforts to move up the value chain by delinking headcount and revenue streams

Plutus Wealth Management buys Zensar Technologies shares worth Rs 167 crore

Investment firm Plutus Wealth Management on Wednesday bought shares of IT company Zensar Technologies Ltd for Rs 167 crore through an open market transaction

India's Q1 corporate earnings growth led by BFSI sector: Motilal Oswal

Studying the results of corporates tracked by it, Motilal Oswal said that BFSI sector has driven 124% of the incremental year-on-year (YoY) earnings growth during the 1QFY23 which was largely subdued

At Rs 123 cr, HCL's Vijayakumar is the highest paid CEO in Indian IT sector

HCL Tech, in its annual report, said that it provided a remuneration of Rs 123 crore to its chief executive officer (CEO) C. Vijaykumar last year, making him the highest-paid Indian CEO right now

IT companies' margins decline to decade-low of 23.2% in June quarter

Wipro, Tech Mahindra see double-digit decline in net profit

L&T beats estimates as Q1 net profit surges 45% YoY to Rs 1,702 crore

But sequentially, it declines 53% amid inflationary pressure & Rs depreciation

Attrition continues to hit margins at top-tier IT companies in Q1FY23

Talent retention has eroded not only their margins but also any gains they may have made from rupee depreciation

Tech Mahindra Q1 results today: How company performed in last four quarters

Tech Mahindra Q1FY23 results: In the last quarter the company recorded a net profit of Rs 1,038 crore. In Q3FY22, it stood at Rs 1,329 crore

Sooner or later, US recession will come knocking at India's tech-hub door

India's tech industry is ruling out a US recession. Or so you would think from Infosys Ltd.'s cheery forecast of 14 per cent to 16 per cent annual revenue growth

Infosys disappoints on profit, ups FY23 revenue growth guidance to 14-16%

Its net profit for Q1FY23 was below expectations at Rs 5,360 crore, up 3.2 per cent year-on-year (YoY) but was down 5.7 per cent sequentially

Top Headlines: India's 1st tribal prez, Apple's vendors create 30K jobs

Fielded by NDA, Murmu got more than 70 per cent of the votes cast, and at least 20 opposition votes, winning the election by a massive margin