'Both campuses and talent should brace for a low-velocity campus hiring season that might extend into the off-campus period.'
The first quarter results (Q1FY25) of Indian IT services hint towards better fiscal growth than the preceding year, but as the management commentary said, "there is still some time for the industry to be firing on all cylinders." Among the majors-Tata Consultancy Services (TCS), Infosys, HCLTech, and Wipro-it is the Bengaluru-based Infosys that has performed better, which was also evident in its full-year revenue guidance.
The top four Indian IT firms have cash reserves of nearly $15 billion with TCS alone holding $5.9 billion in reserves, followed by Infosys with $3.6 billion, and Wipro with $3.4 billion. HCL Technologies has cash reserves of $1.75 billion.
The company has decided to consolidate its delivery functions horizontally
With improving demand for outsourcing services in the US and European markets, which account for over 80 per cent of the revenues of the $108 billion Indian IT sector, hiring is expected to be better than the last few years.
With the appointment of Vishal Sikka as CEO and Managing Director of the company, IT major Infosys has elevated 12 leaders to the position of Executive Vice President with additional responsibilities.
Tata Consultancy Services, India's largest software exporter, hired 100,000 freshers in the financial year 2021-22, more than in any other year. That means an average of 8,300 trainees joining the company every month. This is not merely a mathematical calculation: hiring of freshers at the top IT companies is no longer a compressed affair confined to the campus season.
'80% of start ups fail because they don't have a support system to help them in the very early phase.' 'It's not just an idea that takes an entrepreneur through the initial three years of journey.' 'What plays a definitive role in making a start-up successful is idea+team+capital+mentors+access to a larger ecosystem.'
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.
'Today's engineering graduates have to learn the skills to solve problems which is actually a higher order skill.'
'These are the two core skill sets that are required for any job, in any profession.'
Infosys CEO Salil Parekh, has praised the company's founders for building an "incredible organisation", and exuded confidence that the firm which "has always been solid" will "continue with that stability." Parekh - who steered the firm to stability after a bitter spat between founders and then-management a few years back - believes that Infosys is "well positioned" to leverage tech-led growth opportunities over the next several years. Parekh took over at the helm in January 2018, after a standoff between board and founders, including NR Narayana Murthy, over issues such as governance, led to the exit of then-CEO Vishal Sikka.
Infosys on Tuesday said it has formed a long-term partnership with Daimler AG for a technology-driven IT infrastructure transformation. After the receipt of all regulatory approvals, Daimler AG will transform its IT operating model and infrastructure landscape across workplace services, service desk, data centre, networks and SAP Basis together with Infosys, a statement said. "As a part of this partnership, automotive IT infrastructure experts based out of Germany, wider Europe, the US and the APAC region will transition from Daimler AG to Infosys," it added. The companies, however, did not disclose the number of people who will transition as part of the deal.
'No one manufactures intelligence at the moment.' 'This is a concept that your IT industry understands.' 'What you need is infrastructure. Everything else can then be taken care of.'
Companies now require more than just academic marks; they seek students with internship experience or extra certification courses.
Severe skilled, unskilled shortage threatens to pull emergency brakes on India's industrial engine.
'We're putting a lot of focus on GenAI developers and people who can really do all the architecture and programming.'
David, is set to join Hewlett Packard Enterprise as a senior VP for Enterprise Services Delivery.
'The top five IT giants are not hiring, but most of the freshers want to start their careers with the top five IT firms.' 'In today's scenario this is a challenge.'
'To those who have just finished engineering or MCA or BSc, BBA, I will say they should take up whatever internship opportunities they are getting.' 'They should look for opportunities to learn the latest tools.' 'They should think innovative and try to solve problems. Only when you sharpen your skills, you will remain relevant.'
In another significant senior-level realignment at Infosys, V Balakrishnan, one of the two internal candidates being considered for the chief executive's post, has been given additional charge of the new utilities and resources vertical.
The changes are effective from April 1, the NASDAQ-listed IT major said in a statement.
The person identified as Mujeeb Mohammad had made this call in a Facebook post. "Let's join hands, go out and sneeze with open mouth in public. Spread the virus," he wrote.
Google has emerged as top choice in the Top 100 Ideal Employer Rankings in a survey conducted among Indian management and engineering students.
Parekh, who is joining the company from Capgemini, will take over on January 2, 2018..
'Young people are digital natives.' 'Hence, their ability to learn coding and to become a full stack engineer is far more.' 'The demand for such people is more as we feel that if we hire people from campuses, we can train them to become what we want.'
Major IT firms such as Tata Consultancy Services, HCL Technologies, Infosys, Cyient, and L&T Technology Services have direct exposure to Boeing or its suppliers' ecosystem, which comprises engine manufacturers, body suppliers, and avionics providers. These firms provide services like application development, testing, engineering, avionics, and business process management for the Boeing 737 Max programme.
Takes a knock after RBS changes plan on Williams & Glyn; contract loss to impact 3,000 Infy staffers
Analyst are cautious about the performance of IT services sector from January to March quarter (Q4) of FY24 and the first half (H1) of FY25. While the Bloomberg consensus on revenue implies the market is expecting 2-3 per cent growth on a quarter-on-quarter (Q-o-Q) basis for the IT majors through FY25, the H1FY25 is likely to see even flatter returns, and Q4FY24 is likely to be poor. There is likely to be some recovery in the second half (H2FY25) but even so, there's a chance that the market will be overall disappointed.
'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.'
'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.'
Experts believe it is extremely important for Sikka to connect with employees to gain acceptance at Infosys, which has had home-grown leaders so far.
Revenue of the Bengaluru-based firm grew 1.7 per cent to Rs 17,078 crore in the June quarter as against Rs 16,782 crore in the year-ago period.
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.
The survey takes into account factors such as financial reputation, vision, corporate reputation, quality and innovation.
IT firms are training employees of their clients and even aspiring IT professionals, in order to create fresh revenue streams amid shrinking deal sizes in traditional software maintenance, says Ayan Pramanik.
The company is looking at building the 'bench' of employees in reserve, to be prepared for emerging demands, beside keeping staff attrition in control. Maintaining decent bench strength would help in implementing new projects.
The combination will enable enterprises to move to a 100 per cent virtualised environment with management, orchestration and hypervisor integration, Infosys said.
Each bottle of pickle that leaves FarmDidi, headed to a consumer, has a little kahani behind it -- it's linked to the tale of a life, the life of a simple, striving village woman who created it, and that's what gives Manjari Sharma satisfaction and happiness.
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