Page 3 - It Industry

IT cos warn employees to reskill or risk losing jobs amid AI transformation

From TCS to Cognizant, firms pivot to AI-first models, favouring tech-savvy, younger talent and urging workforce to upgrade skills or face involuntary exits

Cognizant beats TCS & Infosys in revenue growth, profit rises 14% in Q2

Nasdaq-listed IT company gains on performance of BFSI and health science verticals, and large deal wins

Bulk of TCS layoffs may take effect this qtr, affecting over 12K employees

Severance packages range from 3 to 5 months' salary, depending on seniority

Nasscom predicts workforce rationalisation as IT industry transitions

Nasscom expects workforce rationalisation as IT services transition to a product-aligned delivery model, driven by AI and automation. TCS's recent layoffs signal changes in the sector

India's top IT services firms wrap up Q1 with single-digit topline growth

India's top IT services firms delivered single-digit revenue growth in April-June, capping off a mixed, somewhat-sobering quarter as macroeconomic instability and geopolitical tensions weighed on global tech demand and delayed client decisionmaking. Management commentary painted a mixed picture, caution prevailed, yet industry CEOs also emphasised cost optimisation, vendor consolidation, and opportunities in AI makeovers. An overview of Q1 report cards of Indian IT giants shows year-on-year revenue growth ranging from 0.8 per cent (for Wipro) to 8.1 per cent (HCL Technologies). Axis Securities, while penning its results review on Infosys, noted that overall the business environment remains uncertain due to unresolved tariffs and geopolitical issues, prompting clients to be cautious with discretionary spending, and delaying decision-making. Nuvama Institutional Equities expects the demand environment to remain challenging for the next one-two quarters due to macro ...

FY26 likely to be another slow year for IT companies, say analysts

Analysts say possibility of hitting high single-digit revenue growth looks unlikely

Attrition, hiring at IT companies continue to float on choppy waters

This comes in a tepid job market, where overall demand remains soft but companies are scrambling to find talent with niche digital skills like artificial intelligence (AI), cloud, and cybersecurity

Infosys Q1 FY26 result: Net profit up 8.7% at ₹6,921 cr on large deal wins

Quarter-on-quarter (Q-o-Q), consolidated net profit declined 1.9 per cent from ₹7,033 crore in Q4FY25

TCS delays onboarding of over 600 experienced execs: NITES to govt

NITES urges Labour min to intervene after TCS delays onboarding 600 professionals, despite commitments via offer letters. It also calls for compensation and mental health support for affected hires

Wipro keeps IT momentum going; Q1 profit rises 10.9% to ₹3,330 crore

Wipro Q1 profit rises 10.9%, flat Q2 guided on strong deals

Hard for traditional BPM firms to invest big in AI: WNS CEO Keshav Murugesh

Keshav Murugesh discusses WNS's merger with Capgemini and the roadmap for AI-led intelligent operations

No clarity on FY25 salary hike, says TCS amid economic uncertainties

TCS has not decided on salary hikes for FY25 due to macroeconomic uncertainties and delayed deal closures, with an update expected once the situation improves, says HR head Milind Lakkad

Growth to remain muted for IT services firms in Q1 amid macro uncertainty

Expected to deliver low single-digit growth because of geopolitical headwinds

Clients should see growth through AI in the next few years: Rafee Tarafdar

Tarafdar spoke about Agentic Foundry, which develops AI agents for enterprises

TCS expands SDV capabilities with new centres in Germany and Romania

TCS launches automotive delivery centres in Munich and Villingen-Schwenningen and an engineering hub in Romania to support global shift to software-defined vehicles

Cognizant gets 21-acre plot in Andhra for 99 paise to build IT campus

The land will be used for a ₹1,582.98-crore IT campus that Cognizant will build in Visakhapatnam, and which is expected to create about 8,000 jobs over a period of eight years

IT companies, BPOs set target of 100% electric vehicle cab fleet by 2030

The target is rather ambitious. It means converting 95 per cent of the existing fleet of over 900,000 cabs, which transports corporate employees from home to office and back

Mphasis signs Sixfold deal to boost underwriting through generative AI

Mphasis to integrate Sixfold's generative AI tools to help global insurers speed up underwriting, enhance accuracy and improve contextual risk decision-making

India's AI market to triple, reach $17 billion by 2027: BCG report

A Boston Consulting Group report attributes India's AI surge to rising tech investment, a strong digital ecosystem, demographic edge, and robust data infrastructure

Wipro opens Riyadh HQ, partners with PMU to boost Saudi tech talent

Wipro has shifted its regional headquarters to Riyadh and signed a pact with Prince Mohammad Bin Fahd University to launch a tech centre supporting Saudi Vision 2030