Page 2 - It Services Industry

Fresher hiring in India's IT sector tumbles to two-decade low: Xpheno

HR analysts and college placements offices that Business Standard spoke to said fresher hiring by the top five IT firms has been the lowest in this financial year so far

Wipro's AI adoption in existing projects up 140%: COO Sanjeev Jain

Earlier this week, Wipro launched its Lab45 AI platform, which leverages GenAI, machine learning, and deep learning technologies to help companies increase efficiencies

Top IT firms report headcount drop amid weak demand, delayed deal cycle

Major Indian IT companies like TCS, Infosys, and Wipro saw a significant drop in employees during FY24 due to reduced client budgets and delayed deal cycles

GCCs, 3rd-party IT service providers driving demand for workspace: Report

International companies outsourcing jobs to India have become a major driver of office demand in the country with global capability centres and third-party IT service providers contributing 46 per cent to the total leasing of workspace during 2023, according to Knight Frank. Real estate consultant Knight Frank, in its latest report 'Asia Pacific Horizon: Harnessing the Potential of Offshoring', noted that the offshoring industry in India has grown significantly into a leading global service provider, accounting for 57 per cent of the global offshoring market. The consultant explained that the offshoring market involves companies outsourcing business processes or services to external providers located abroad, aiming to leverage cost savings, specialised skills, and operational efficiencies. The offshoring market, also known as Business Process Outsourcing (BPO), encompasses various models such as Global Capability Centres (GCCs) and Global Business Services (GBS). GCCs are internal

TCS expands presence in Brazil with new delivery centre in Londrina

Tata Consultancy Services employs around 1,700 professionals in Londrina and will be generating more than 1,600 new jobs through this centre

Wipro promotes 31 staff to senior roles after top-level exodus: Report

The promotions, seen by industry watchers as a move to stem senior-level attrition, came after a series of high-profile exits at the country's No.4 software services exporter

IT services companies' GenAI investments likely to soar this year

Clients in the Asia-Pacific (APAC) region are expected to treble their investments in GenAI, although they currently lag behind their North American counterparts

Mukund Rao joins engineering services firm Xoriant as prez, global markets

Prior to joining Xoriant, he was the Chief Business Officer of Banking, Financial Services at LTIMindtree

Mobile manufacturing to hit $50 billion in FY24: Ashwini Vaishnaw

Overall, electronic exports from the country stood at $15.77 billion in FY24. In the previous year, this was $28 billion

Wipro asks employees to work from office thrice a week as Covid curbs eased

Companies have been reversing or modifying their "remote work" policies as Covid-19 pandemic-related restrictions wound down for reasons including better communication and collaboration among workers.

Wipro plans to join rivals in cutting new hiring as tech spending cools

Instead of the usual big recruiting push, Wipro said it would first take on people to whom it had already made offers but hadn't yet brought onboard

Strong momentum for the second half, says HCLTech CEO & MD C Vijayakumar

C Vijayakumar, MD & CEO, HCLTech in a video interview with Shivani Shinde talks about the revenue guidance cut, growth drivers and hiring targets

80% of IT services companies likely to get to 5-day work mode by FY24 end

HR experts also point that with attrition back to its level many are taking the current dip in business momentum to get its employees back in office

5% rise in non-tech white-collar jobs in June, no respite for IT sector

While the core sector showed a positive sentiment, hiring in the country's IT services sector fell to its lowest level since December 2020

BLS International hits new high; soars 9% on proposed IPO of BLS E-Services

BLS International recently consolidated its banking correspondence and e-Governance businesses into a Digital Services segment, which is operated through BLS E-Services.

HCLTech opens new facility in Chennai for 5G infrastructure testing

IT services company says the laboratory will help advance telephony and ensure quality

TCS to develop its own ChatGPT with focus on enterprise code generation

TCS is expected to release some of these solutions by the last quarter of this financial year

Wipro Q4 profit declines 0.41% to Rs 3,074.5 cr, revenue rises 14.4%

Net profit for the full year FY23 dipped 7.16 per cent to Rs 11,366.50 crore

Next step for the infotech boom

The IT services industry must innovate more and integrate better into the needs of the national economy

A quick pivot to demand helped realise good growth: HCLTech's C Vijayakumar

From a larger proportion of smaller deals, we have moved into an environment where there is a much higher share of large deals in the pipeline, says C Vijayakumar, CEO & MD HCLTech