All stories by Shivani Shinde
India core to our products and services: JPMorgan Chase CIO Lori BeerRediff.com20 Nov 2023
For Lori Beer, chief information officer, JPMorgan Chase & Co, largest banker in the US, India is a big part of the organisation's global technology footprint and is core to its products and services. This is evident from the fact that in less than two months since JPMorgan & Chase chief executive officer Jamie Dimon visited India, Beer has come here to see the recently opened centres in Mumbai and Bengaluru. "What is different for me this year are our new centres and to be able to come and see the vibrancy, and connectedness is great.
'We are confident our H2 will be better than H1'Rediff.com11 Nov 2023
'Our Q1 was almost flat, and there was very negligible growth in Q2, but the deal pipeline and the order book have been fairly significant.'
'We see strong momentum for the second half'Rediff.com9 Nov 2023
'We will have a strong exit as our third quarter is strong.'
TCS gets Maha notice over lateral onboarding delaysRediff.com26 Oct 2023
India's largest information technology (IT) services company, Tata Consultancy Services (TCS), has received a notice from the Maharashtra government's Ministry of Labour & Employment regarding the company's delay in onboarding lateral recruits. The complaint was filed by the Pune-based IT employees' union, Nascent Information Technology Employees Senate (NITES), in July 2023. While the exact number of lateral employees affected by this delay could not be confirmed, according to the NITES complaint filed in July, over 200 employees were impacted.
How Meta Is Supersizing WhatsAppRediff.com11 Oct 2023
WhatsApp's advantage is that it is the first app millions of Indian check first thing in the morning and innumerable times during the day and night.
Results preview: IT companies brace for Q2 setback on muted growthRediff.com9 Oct 2023
However, the second quarter of FY24 is expected to be muted, and, with that, the hope of double-digit growth is now being pushed to FY25. However, analysts are expecting the momentum in the closure of record total contract values (TCVs) will continue, as has been the case over the last two quarters.
Amazon Pay India growing at 40-50%: CEO Mahendra NerurkarRediff.com14 Sep 2023
With over 80 million Unified Payments Interface (UPI) users, Amazon Pay, the payments business of e-commerce giant Amazon, has been growing at 40-50 per cent year-on-year (Y-o-Y), said Mahendra Nerurkar, chief executive officer (CEO) and vice-president (V-P), Amazon Pay India. "Leveraging just the micro peer-to-peer (P2P) transactions on UPI is not a business model. "While we have enabled those features, we do not chase monthly active users based on this.
Nasscom portal to bridge job scout-seeker gapRediff.com23 Aug 2023
The National Association of Software Services Companies (Nasscom) on Tuesday launched the Talent Connect portal to bridge the gap between recruiters and digitally skilled and certified candidates. The portal, which has been in the work for the last 28 months has 100,000 candidates and companies such as Tata Consultancy Services (TCS), Tech Mahindra and Salesforce recruiting from it. The platform, for the first time, is also making an attempt to bridge the gap of skill-based talent to employers, rather than the current practice of academic focused talent base.
Are IT Companies Avoiding Placement Season?Rediff.com7 Aug 2023
'Companies are coming to the campuses, and we have companies booking their slots for the placement season, but the overall number of companies signing is low, and the hiring numbers are also lower.'
Is The Tide Changing For Byju's?Rediff.com3 Aug 2023
'They have got the advisory council, a CEO has been appointed finally, and they have made some headway on the term loan B.'
'We need a remarkable turnaround'Rediff.com31 Jul 2023
'We have not seen too many large deals compared to last quarter.'
More misses than hits hint at uncertain times for IT services companiesRediff.com24 Jul 2023
The first-quarter performance of top IT services players, as well as mid-cap firms, has been subdued, reflecting macro uncertainties. The numbers of the top four firms show several misses, hinting at difficult times ahead. One mismatch is the total contract value (TCV) signed by the firms and the revenue growth registered.
Macro uncertainties may keep IT hiring in slow lane this fiscal yearRediff.com17 Jul 2023
India's information technology (IT) sector will witness subdued hiring in 2023-24 as macro uncertainties impact demand environment, with clients either taking a pause on spend or stopping discretionary spend, say human resource experts. To begin with, unlike earlier years, the three large IT players TCS, HCLTech, and Wipro have not provided any new hiring targets for the financial year. And Wipro has said that its hiring target will depend on the demand environment.
Byju's CEO speaks to shareholders, firm to set up board advisory committeeRediff.com7 Jul 2023
Byju Raveendran, CEO and founder of the eponymous edtech giant, has told shareholders that the company will set up a board advisory committee (BAC). This was part of a discussion on July 4 with shareholders at an emergency general meeting (EGM). Raveendran also said that in the next EGM in three weeks will give details about BAC's members and composition.
Byju Raveendran talks 'struggles', not layoffsRediff.com30 Jun 2023
After assuring shareholders that Byju's is on a strong footing, Chief Executive Officer Byju Raveendran, after much delay, spoke to employees in a townhall session. In his first-ever address to employees since problems began at Byju's, Raveendran spoke about the resignation of auditors and board members, the Term Loan B dispute, and the future of educational technology (edtech). Raveendran also asked his team to 'rise above the noise' and work with resilience and determination.
Tata Comm to acquire NYSE-listed Kaleyra for $100 mn in all-cash dealRediff.com29 Jun 2023
Tata Communications on Wednesday announced that it would acquire NYSE-listed Kaleyra, a global omnichannel integrated communication services provider with a set of proprietary platforms offering targeted personalisation through messaging, video, push notification, e-mails and voice-based services, and chatbots. The acquisition is an all cash deal. Tata Communications has agreed to acquire Kaleyra at a price per share of $7.25, for a total consideration to Kaleyra shareholders of approximately $100 million, besides the assumption of all outstanding debt.
8 'gazelles' demoted to 'cheetahs', 19 out of Hurun Unicorn Index 2023Rediff.com28 Jun 2023
With the number of start-ups reaching the unicorn level falling drastically in 2023, the Hurun Unicorn Index said it has demoted eight gazelles - start-ups that were founded in 2000 and have the potential to go to unicorn in three years - to cheetahs.
Why TCS' mega deal with Transamerica came to an endRediff.com24 Jun 2023
India's largest IT services player Tata Consultancy Services (TCS) saw its $2 billion, 10-year deal with Transamerica Life Insurance Company come to an end even before the period was over. Transamerica is the subsidiary of American arm of Dutch insurer Aegon NV. This is not the first time such a long-term deal has been called off. Earlier this year, UK's National Employment Savings Trust (NEST), ended a $1.8-billion deal with French IT services player Atos.
Byju's sacks 1,000 more; count jumps to 3,500Rediff.com20 Jun 2023
India's largest edtech firm Byju's will fire 1,000 employees in a fresh round of layoffs across departments. With the latest round, total job cuts at the company have mounted to around 3,500. According to sources, fresh job cuts are an attempt by the company to improve its finances and work towards a path to profitability.
Edtech giant Byju's likely to lay off 1,000 more employeesRediff.com9 Jun 2023
With debt woes and a legal case in the US courts, educational technology (edtech) giant Byju's is expected to be laying off more employees, according to media reports. According to The Morning Context report, Byju's intends to lay off 1,000 employees. This number, however, could not be confirmed by Business Standard independently. A spokesperson for the company declined to comment on the reports.