Page 9 - It Services
Indians most confident in adapting to technology related changes: Report
Indians are most confident in adapting to changes due to tech innovations at work places and a large majority of professionals seem to be ready for any change in their roles, a report said on Tuesday. The report by global job site Indeed said around 54 per cent workers in India predict a substantial shift in their roles within the next five years and 95 per cent expressed confidence in their ability to adapt to these changes. The report - 'Tomorrow's World: The Workplace and Workforce of the Future' - is based on an online survey across 11 countries, including India. Global market research firm YouGov on behalf of Indeed collected data from November 30 - December 21, 2023, from 16,671 working professionals. The participants comprised 9,592 employees, 4,592 employers and 2,487 HR decision-makers. The report revealed that India led the way in fostering optimism towards technology and artificial intelligence (AI), with 75 per cent of respondents expressing confidence in the ...
 "Indians most confident in adapting to technology related changes: Report")
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
 "Top IT firms report headcount drop amid weak demand, delayed deal cycle")
Infosys Q4FY24 result preview: Low single-digit topline growth expected
According to brokerages, Infosys is likely to report a revenue increase of 2-4 per cent year-on-year between Rs 38,945 crore to Rs 38,432 crore
 "Infosys Q4FY24 result preview: Low single-digit topline growth expected")
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
 "TCS expands presence in Brazil with new delivery centre in Londrina")
Near-term growth snags could keep IT services giant TCS in a bind
Yet, positioned for revenue growth with recent strong deals, driven by a strengthening US economy
 "Near-term growth snags could keep IT services giant TCS in a bind")
TCS Q4 results: Profit rises 9% to Rs 12,434 crore, revenue up 3.5%
India, UK drive IT company's growth in the quarters as US business continues to be subdued
 "TCS Q4 results: Profit rises 9% to Rs 12,434 crore, revenue up 3.5%")
CNH's India technology centre to be the largest by the end of CY24
The centre, which has a headcount of 700, will touch 1,000 by the end of CY24
 "CNH's India technology centre to be the largest by the end of CY24")
Q4 Preview: TCS to lead IT pack; may see upper single digit rise in profit
Reversal of furloughs and incremental contribution from the BSNL deal and other deals will fuel the revenues
Tech talent war: Nearly 4,500 IT leaders switch jobs in 12 months
Chaos in C-Suite sees 4.5% leadership churn in IT services: Xpheno
 "Tech talent war: Nearly 4,500 IT leaders switch jobs in 12 months")
How did Accenture manage to secure $1 billion worth of GenAI deals?
The company is an early adopter of the tech and has leveraged its first-mover advantage, supported by clients' increased discretionary spending on GenAI
 "How did Accenture manage to secure $1 billion worth of GenAI deals?")
TCS layoffs: Over 20 employees in US cry foul, file complaint against firm
With the industry facing low demand, several of the large IT firms have been looking at ways to cut costs
IT industry opposes Karnataka IT Union's call to end relief in labour rules
On March 16, a section of IT employees, under the banner of KITU, staged a protest in front of the labour commissioner's office in Bengaluru to press for their views
 "IT industry opposes Karnataka IT Union's call to end relief in labour rules")
TCS likely to offer 7-8% average salary hike to offsite employees
TCS' attrition rate has been normalising, standing at 13.3 per cent for the third quarter of FY24, down from 14.9 per cent in the previous quarter
India's February services PMI eases to 60.6 on low business confidence
Despite having slipped, the headline index was comfortably above the neutral mark of 50.0 and signalled a sharp rate of expansion that was well above the series history
 "India's February services PMI eases to 60.6 on low business confidence")
We don't see hiring going down due to generative AI: TCS CEO K Krithivasan
His comments come at a time when the hiring done by industry has come down significantly. For instance, in FY23 the industry added a total new headcount of 290,000. This has fallen to 60,000 in FY24.
 "We don't see hiring going down due to generative AI: TCS CEO K Krithivasan")
Robust cybersecurity shield key for IT providers to retain clients
Global cybercrime damage costs are expected to grow by 15 per cent per year over the next three years, reaching $10.5 trillion annually by 2025
 "Robust cybersecurity shield key for IT providers to retain clients")
IT services firm Sonata Software bets on European market to drive growth
The telecommunications sector, a segment of the Technology, Media, and Telecom (TMT) vertical, contributed 31 per cent to the company's revenue
 "IT services firm Sonata Software bets on European market to drive growth")
TCS to enhance Enento Group's IT infrastructure, digital workplace
As a part of the partnership, TCS will help Enento simplify its operating model and harmonise its technology stack by leveraging TCS' technology solutions
FPI allocation to financial stocks declines below 30%, shows data
The selling comes on the back of third quarter (3QFY24) earnings missed by HDFC Bank, Bajaj Finance, and Axis Bank. FPIs also pulled out over Rs 2,000 crore amid earnings miss by Hindustan Unilever
 "FPI allocation to financial stocks declines below 30%, shows data")
Govt nearly doubles PLI scheme share of five key industry segments
Amount raised from Rs 8,405 cr in RE of FY24 to Rs 15,198 cr
 "Govt nearly doubles PLI scheme share of five key industry segments")