2025 has seen a sharp rise in lawsuits targeting IT services and consulting companies, which now increasingly offer proprietary digital platforms and cloud services.
IT service company Wipro on Friday reported 7.8 per cent year-on-year decline in its consolidated net profit for the March quarter to about Rs 2834.6 crore, and cautioned that the macroeconomic environment remains "uncertain". The Bengaluru-headquartered company, which recently saw a change of guard with Srinivas Pallia taking over at the helm as the new chief executive officer, has given an IT Services revenue growth guidance in the (-)1.5 per cent to +0.5 per cent band for June quarter on a constant currency basis.
'We spent considerable time re-skilling all the employees, and then we created a new focus called the 'One Infosys'.'
The company said it will target experienced technology professionals as well as recent graduates from major universities, liberal arts colleges, and community colleges to create the best workforce for the future.
Infosys has cash in excess of $6.1 billion, which would come down by one-third after the payouts.
The company will have to retain independent auditor, do annual compliance review.
Ending all speculation, Infosys, India's second largest IT services company today announced Vishal Sikka, the former chief technology officer and member of executive board at enterprise software maker SAP, as the new CEO & MD.
No impact of exits on client engagements, says company.
Infosys will provide applications to support multiple operations, including marketing and sales, customer service, manufacturing, product development and corporate functions.
For FY15, Infosys has given a revenue growth outlook of seven-nine per cent.
According to sources privy to the development, Murthy has chosen a team of four senior executives -- former Infosys India business unit head Binod Hampapur Rangadore, Ranganath D Mavinakere, Deepak Padki and Rohan Murty.
Analysts said the company has set conservative revenue guidance that they expect it to beat.
In yet another high profile exit at Infosys, India's second-largest information technology (IT) services company, Ashok Vemuri, head of operations (Americas) and global head (manufacturing and engineering services), has resigned.
Application mgmt, infrastructure mgmt and BPO to be more automated than other areas.
The new portal provides physicians with a single, easy-to-use interface that speeds up the order-to-delivery of devices, processing of diagnostic data and management of insurance claims.
Maintains its forecast for 6-10 per cent revenue growth for the current financial year.
It said that the company encourages "chronic under-performers" to leave as part of its staff management.
Move fits into strategy to expand in Europe, add to consulting capability.
According to the retirement policy followed at Infosys, Shibulal would retire in about three years, when he turns 60.
Last year, Infosys had deferred salary increases, citing an uncertain business environment.
The company will give the employees who work on March 9 an additional day of leave, to be credited to their account in April.
The company said attrition of high performers had declined to 11.2 per cent during the quarter
Hiring of more local people has been necessitated since majority of its American clients are not comfortable sending works offshore.
Infosys, India's third-largest information technology services company, is putting in all-out efforts to douse the visa fire that erupted almost six months ago, with the filing of a lawsuit by one of its United States employees, and is spreading wings further.
Infosys, India's second largest information technology services company, which had seen some top-level attrition last year, has both embarked on a leadership development programme and trying to ensure those targetted are contented with their compensation.
Infosys, India's second-largest information technology services provider, believes winning two to five 'transformational' deals in the range of $30-80 million for the company every quarter could become a norm.
Panaya drags Q1 profits though revenue improves on the back of large deal wins, good traction in North America.
Infosys is planning to hire the first 500 within two years.
The company's effort to tame the disgruntled employees, who were earlier venting their anger in public forums and some social networking sites like Facebook, Twitter and YouTube, by giving them a blogging platform on its intranet, seems to have back-fired.
The new move is expected to help boost employee morale.
Most large companies have curbed their hiring plans in 2018-19 because they continue to invest in digital technologies.
Employees of Infosys Technologies may get pay hikes below 10 per cent this year, the company's chief financial officer S D Shibu Lal said on Tuesday.
The IT sector in Bangalore is confident that they will be able to meet their growth targets during the current fiscal in spite of the compounding problems mushrooming across the globe.
BSE imposed special margin of 25 per cent on AKL Soft & Infosys India Ltd with effect from Wednesday.
Companies are developing a surrogate education system to create a skilled labour pool.
Sikka said recent initiatives had started yielding dividends.
Indian IT industry veterans believe lack of maturity from the political leadership may have helped people in the US to take advantages.
The results will give an indication whether Nilekani would continue with the software plus services strategy adopted by Sikka, or tweak it to reflect his worldview of the explosion in data.
Infosys, in April, had said that it will pay up to Rs 13,000 crore to shareholders during the current financial year through dividend and/or share buyback.
Infosys Technologies' scrip closed higher on domestic bourses today while Capgemini shares were trading nearly one per cent up on NYSE-Euronext
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