Wipro Technologies, the country's third largest software services exporter, today said the company might go slow on its campus-hiring plans till demand picks up.
The Indian arm of the Union for Information & Technology Enabled Services is planning to file a public interest litigation against the alleged 'arbitrary policy' of many Indian and multinational IT/ITeS firms in India who have, for the past two months, reportedly been enforcing longer working hours that violate the daily eight-hour working mandate of the Indian Factories Act, 1948.
After going through a series of mergers and acquisitions, Mindteck, a Bangalore-headquartered IT services company, is looking to consolidate its various businesses which will see more work being moved offshore, to locations in India.
Recruitment-related HR executives are being moved to other HR functions like training and development and other day-to-day HR functions, or being taken on contract. If things worsen, there could also be layoffs. Companies like Wipro, Infosys, TCS and iGate, too, have a mix of contractual employees in their HR team.
Having successfully completed the $13.9-billion acquisition and merger of IT consultancy EDS a few months ago, IT services giant Hewlett-Packard is now taking steps to integrate both organisations.
India's mid-cap software companies may shed as much as 10 per cent of their workforce as revenues and margins have shrunk owing to a global slowdown, analysts say.
In a bid to diversify their risk in the backdrop of a US slowdown and a fallout from the sub-prime crisis, which has affected the BFSI sector, Indian business process outsourcing units have begun training their sights on the domestic market. The deal sizes for the BPO segment have increased to $5-50 million from just a few hundred thousand a year ago.
The deal values the stock exchange at $3.3 billion.
Bangalore-based IT outsourcing services provider MphasiS, an EDS company, is reducing hiring plans by almost 50 per cent.
Sources in Greenpeace said the representatives of different environmental NGOs are meeting Tata Steel MD B Muthuraman next month. Despite the allegations from various quarters that it has twisted facts and forged reports about the presence of rare Olive Ridley turtles near Dhamra coast in Orissa -- the site where Tatas with partner L&T are developing Rs 2,400-crore (Rs 24 billion) port -- global environmental NGO Greenpeace is bracing for its next phase of action, which may w
The company is in talks with a few private banks and has signed on Citibank as one of the bankers to raise these funds, said sources. HCL Technologies and Citibank declined to comment saying that 'they do not comment on market speculation'.
A slowdown in the global economy and sub-prime crisis in the banking, financial and insurance services sector, its major revenue earners, force the domestic IT industry to take a relook at its hiring strategy.
IMT, which already has a centre in Nagpur other than Ghaziabad, is planning to open its third centre in India. It has been allotted 30 acres of land near the new international airport in Shamshadabad.
Cisco works with a number of IT vendors such as Wipro, HCL, IBM and Datacraft as its tier-I partners in India who provide a lot of value-added services on the top of Cisco's solutions and services. Besides, Cisco has over 100 partners in tier-II cities, who provide network level services to the company's SME customers.
Indian IT firms are now making their mark as Superbrands. Of the 74 Indian Business Superbrands selected by Superbrands - an independent arbiter on brand management - seven are IT companies. Among a total of 980 brands invited to be judged and listed in Business Superbrands, around 12 technology companies had participated.
Global IT firms are taking a cue from consumer firms, which revolutionised marketing tactics in the FMCG segment with the shampoo-in-a-sachet concept by appealing to semi-urban as well as rural consumers.
The figure is expected to rise to over Rs 4,600 crore (Rs 46 billion) by 2010 - a compounded annual growth rate of 44 per cent. Retail has been one of the largest growth sectors for all the top IT firms. For instance, Tata Consultancy Services, Infosys Technologies, Wipro Technologies and Satyam Computer Services saw their retail business grow by 33.6, 45.3, 38.5 and 117 per cent respectively on a year-on-year basis.
The Hinduja Group-promoted business process outsourcing firm HTMT Global Solutions has set aside Rs 400 crore (Rs 4 billion) to close two acquisition deals in the US by the end of this year.
Poor infrastructure and unavailability of broadband are major reasons why Indians have not taken to Second Life in a big way. Besides, the time zone of Second Life is more attuned to the US, which is another issue for Indians wanting to hook on to this world.
The June quarter turned sour for MindTree as forex losses pushed the company into the red despite logging strong growth in revenues.
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