In an interview with Leslie D' Monte, Capgemini's CEO (financial services) for India and Asia Pacific, Salil Parekh, explains the company's strategy for India.
The June quarter is usually considered as a seasonally strong period for the IT sector.
The company is the third largest employer among foreign IT companies in the country, after Accenture and IBM
As the job markets open up, top IT services firms may look at a tiered strategy in which they hire entry-level talents at higher salaries, amid a major technological shift, say HR analysts.
Infosys Technologies' scrip closed higher on domestic bourses today while Capgemini shares were trading nearly one per cent up on NYSE-Euronext
In another senior-level exit from Infosys, Humberto Andrade had quit as head of the company's Latin America business process outsourcing (BPO) operations to join rival Capgemini.
The writing has been on the wall for some time. Exodus of senior leadership and growth behind its peers are reasons that have prompted Thierry Delaporte, the chief executive officer (CEO) of Wipro to resign, analysts said. Delaporte, Wipro's seventh CEO, also resigned without completing his five-year term, like his predecessor Abidali Neemuchwala decided to end his tenure prematurely in 2020. Phil Fersht, HFS Research CEO and chief analyst believes the change in leadership was at least six months overdue.
With the last quarter of 2023-24 (FY24) expected to have been soft owing to lower discretionary spend and macro uncertainty, many are hoping FY25 will be a year of recovery for the information-technology (IT) industry. The fourth quarter, January-March, is considered soft, and will continue to see the headwinds the sector has been facing. And the sector has entered the new financial year on a weak footing. Analysts are expecting Tier-I firms to report sequential growth of -1 per cent to 1.5 per cent and midcap players' growth may range between 0.7 per cent and 4 per cent.
Insurance behemoth Life Insurance Corporation of India (LIC) is the fourth largest insurer in the world, according to a ranking based on life and accident & health reserves of companies in 2022 by S&P Global Market Intelligence. The state-owned insurer is ranked after Allianz SE, China Life Insurance Company, and Nippon Life Insurance Company. According to the report, LIC's reserves stood at $503.7 billion. Germany's Allianz SE ($750.20 billion), China Life Insurance Company ($616.90 billion) and Nippon Life Insurance Company ($536.80 billion) are the top three insurance companies in the world.
Indian IT major Wipro on Saturday announced the resignation of its CEO Thierry Delaporte and named Srinivas Pallia as the new chief executive officer effective immediately. Wipro's Board noted the resignation of Delaporte with effect from April 6, 2024, the company said in a BSE filing, and added he will be relieved from the employment of the company with effect from the close of business hours on May 31, 2024.
'Students of Tier-II and Tier III engineering colleges in the south may find 2023 to be one of the toughest years for getting jobs.'
The company, which in the previous quarter announced former Capgemini top executive Thierry Delaporte as its new chief executive officer and managing director, is looking at improving its performance in coming quarters.
'We are anticipating that the hiring trend will continue to see double-digit growth at least for the current financial year.'
In Parekh, an IIT-Bombay and Cornell University alumnus, Infosys may have finally found a person who will grab the market opportunity with good execution.
The analyst community tracking the Indian IT services industry took special note of Accenture's first quarter (Q1) performance, which showcased the rapid growth of its consulting business that outperformed its outsourcing business. Bookings indicate that the trend will continue. Consulting bookings increased 41.6 per cent year-on-year (yoy) to $9.4 billion, higher than the 17.6 per cent growth in outsourcing to $7.4 billion. The management commentary was also more bullish on the consulting business.
In 2017, when Infosys announced that Salil Parekh would be its next chief executive officer (CEO) and managing director (MD), very few in the industry or the analyst community doubted his ability to bring the company back to a healthy growth trajectory, improve morale within the company and, more importantly, win the promoters' trust and investor confidence. There were reasons for this confidence. He was not only the deputy CEO of the Paris-headquartered IT services major Capgemini, but also one of the only non-European faces on the executive board of the company.
'Elevator rules deem no more than two people for a unit that carries six people, and as an employee enters the office, there are three masks to be used for five hours each a day, then disposed and one for the next day as well.'
Named "HomoSEP", ten units are planned to be deployed across Tamil Nadu and the researchers are in touch with sanitation workers to identify the locations, officials said.
Parekh, who is joining the company from Capgemini, will take over on January 2, 2018..
Wipro Chief Executive Officer Thierry Delaporte drew a pay package of $8.7 million (around Rs 64.3 crore) in the financial year 2020-21, according to a regulatory filing. Delaporte's compensation is for the period from July 6, 2020, to March 31, 2021, and includes components such as a one-time cash award, annual stock grant and one-time grant of RSUs (restricted stock units). The former Capgemini executive had joined the Bengaluru-headquartered Wipro as its chief executive officer and managing director on July 6, succeeding Abidali Neemuchwala.
RIL, Capgemini, IndiGo among companies which have offered to pay their employees' vaccination cost.
While industry leaders Tata Consultancy Services and Wipro have announced deferring wage-hike plans, other players such as Infosys and HCL Technologies are expected to follow suit, according to industry insiders.
'More than 900 companies believe that the majority of their employees worry about AI's role in potential job losses.' 'It makes employees anxious about working with machines or AI applications and fuels resistance to change,' says a Capgemini report.
Infosys CEO Salil Parekh has got a massive 88 per cent jump in annual remuneration to Rs 79.75 crore, making him one of the highest-paid executives in the country. The software services firm has sought shareholders' approval for the reappointment of Parekh as chief executive officer and managing director for a second five-year term beginning July 1. According to the company's annual report released on Thursday, Parekh, 58, took home a salary of Rs 71.02 crore in the fiscal year ended March 31, 2022.
The French IT services company had said it would buy IGATE for $ 4 billion in an all-cash deal.
Among IT services firm, Cognizant witnessed over 60 per cent of its initial applications rejected, followed by Capgemini, Accenture, Wipro, and Infosys. In 2018, the top six Indian firms got just 16 per cent or 2,145 H1B work permits.
With a total compensation of Rs 1,500 million, C P Gurnani of Tech Mahindra is the highest paid CEO of a tech firm.
Irrespective of demonetisation and GST blues, IIM Lucknow has been able to successfully place their batch of 459 students.
Besides working on better operational control, internal efficiency and leveraging of internal talent, Salil Parekh is also focusing on building a pipeline of leaders
"Instead of plastic faces, which appear artificial, why not use real people?" asks K V Sridhar, national creative director at ad agency Leo Burnett India. "They are compelling brand ambassadors, who can lend an air of authenticity to the communication exercise."
Kasam Shaikh is the fifth person in India and first from Maharashtra to receive the award for Microsoft Most Valuable Professional title in Artificial Intelligence.
The number of high net worth individuals grew 20.4 per cent to 2.63 lakh people, while their collective wealth grew 21 per cent to over $1 trillion.
The IT services giant is also slated to hold a board meeting on April 13 and 14, to approve of and take on record the consolidated financial results of the company for the quarter and year ended March 31, 2021. Indian IT majors will be announcing their fourth quarter (Q4) and 2020-21 results starting April 12. At the end of the Q3 FY21 Infosys had cash and investment of $4.5 billion.
Of the 200 to 250 students who enroll in a graduate language course at Doon University annually, nearly all are assured placement in a range of companies like Amazon (France), AXA Insurance, Oracle and Capgemini.
Vemuri holds about 400,000 shares in IGATE which, at an offer price of $48 apiece, will give him $19.2 million
With automation taking place at a much faster pace across industries especially in the tech space, domestic software firms that employee over 16 million are set to slash headcounts by a massive 3 million by 2022, which will help them save a whopping $100 billion mostly in salaries annually, says a report. The domestic IT sector employs around 16 million, of them around 9 million are employed in low-skilled services and BPO roles, according to Nasscom. Of these 9 million low-skilled services and BPO roles, 30 per cent or around 3 million will be lost by 2022, principally driven by the impact of robot process automation or RPA. Roughly 0.7 million roles are expected to be replaced by RPA alone and the rest due to other technological upgrades and upskilling by the domestic IT players, while it the RPA will have the worst impact in the US with a loss of almost 1 million jobs, according to a Bank of America report on Wednesday.
The world is home to 1.76 million millionaires with collective net worth of $52.62 trillions.
As the deadly second wave of the Covid-19 pandemic rages on, startups and technology firms are realising the burnout effect it is having on employees. Many have shortened their work weeks to four days, while others have made provisions for more time off for employees to help them rejuvenate or care for loved ones.
In March this year, when Tata Consultancy Services (TCS) unveiled a new brand statement of "Building on Belief", many wondered if it was the right strategy. When things are uncertain, wouldn't a brand statement such as "Experience Certainty" have been better? But for Rajesh Gopinathan, CEO & MD, TCS, it was all about the way the company was looking at business. As Gopinathan explained over a video call, "Today, we have over 1,000 customers and 98 per cent of our business is repeat business; our relevance to customers should continue, and to increase.
To provide a 'data lake' solution, the markets regulator had issued a notice in May, inviting expression of interest (EoI) from interested parties. The selected company will be responsible for designing, implementing and supporting a big data solution with analytical capabilities.
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