Page 5 - It Firms

Infosys US unit hit by cyber security event; probe on to identify impact

The company said it is working with a cyber security company to resolve the issue

TCS to revise rates for staffing cos to enhance transparency, better talent

The changes in rate cards are for contract staffing employees and not for permanent employees. TCS is revamping its hiring mechanism

SuperOps.ai raises $12.4 mn in funding round led by Addition, March Capital

Company's technology platform helps managed service providers in assisting clients

As business from West takes a hit, Indian IT firms explore African market

As things stand, the African continent holds a relatively small share of less than five per cent in the global IT outsourcing

Indian IT firms set for 'washout' year, focus now on 2025: JP Morgan

The focus for this quarter's earnings reports will be on deal signings as well as the split of new deals versus renewals to assess fiscal 2025 growth, the analysts said

End of Work-from-home: IT cos nudge employees to prepare for 5-day office

The French IT company, Capgemini's employees have been asked to work from the office two days a week

Accenture guidance delays hopes of demand pick-up for Indian IT: Analysts

Nirmal Bang analysts suggest investors use the gains to pare positions if overweight, especially in the tier-2 IT pack

IT firms' growth in Q1 FY24 lowest in 10 qtrs, slowdown to get worse: ICRA

Order book and deal pipeline of most companies remain strong, says ratings agency

TCS to revamp Government e-Marketplace, enhance efficiency, transparency

GeM acts as an end-to-end online marketplace for central, state govt bodies, including PSUs

Wipro reduces client base to pursue high-margin deals and profitability

India's fourth-largest IT services firm, Wipro, aims for faster profitability ascent by cutting smaller clients and focusing on bigger revenue opportunities

IT firms register a downfall in employee headcount, delay in salary hikes

Representatives from HCLTech said that the company had decided to postpone the compensation review by a quarter. Moreover, senior management at HCLTech will not be receiving pay hikes this year

More women in Indian boardrooms, but mainly as independent directors

Overall representation has been increasing since Companies Act 2013

Demand for IT gig workers grew 157% in H12023, says job firm Awign

Aim is to prune fixed costs, lean more on variables; demand is mostly for highly-skilled tech professionals at mid-level and senior positions, with 2-7 years' experience

Wipro Q1 results: Net profit rises 11.9% to Rs 2,870 cr, revenue up 6%

"Wipro's first quarter results come with a strong backbone of large deal bookings, robust client additions, and resilient margins," said Thierry Delaporte, CEO and Managing Director

Weak discretionary spend likely to weigh on IT cos' revenue in Q1

Weak discretionary spending across verticals, especially in financial services, telecom and hi-tech, could contribute to weak trends

'Mid-size IT firms outperform after CEO change more often than large firms'

Our analysis of 13 CEO changes over the past decade shows that midsized IT firms outperform on growth/profitability after a CEO change more often than large IT firms, it added

MNC captives woo talent and biz from domestic IT services companies

Over the past few years, about 30% of outsourcing work has moved to GCCs

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

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

Weak discretionary spending may bring down revenues of IT firms in Q1

Tremors felt after American IT services firm cut its CY2023 revenue guidance by 2% recently

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