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.
Severe skilled, unskilled shortage threatens to pull emergency brakes on India's industrial engine.
'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.'
The combination will enable enterprises to move to a 100 per cent virtualised environment with management, orchestration and hypervisor integration, Infosys said.
'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.'
'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.'
'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.'
Infosys boss says new strategy moving in right direction, optimistic of regaining bellwether status.
Shares of IT giant Infosys erased early gains and ended with a loss of nearly one per cent on the NSE today on profit-booking after the company named former SAP executive board member Vishal Sikka as its new CEO.
Infosys President B G Srinivas will join Hong Kong-based diversified group PCCW as Group Managing Director in July, after ending his 15-year old stint with India's second largest IT services firm.
'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.'
"There was not a single decision that I took during my second tenure without discussing it with Ranga and getting valuable input from him," says Narayana Murthy.
Infosys announced on Wednesday that product engineering services and development was 1.2 per cent of total revenues.
Possibility of higher growth and relatively cheaper valuations makes Street more positive on Infosys, says Sheetal Agarwal.
IT services major Infosys has said wife of one of its co-founder Nandan Nilekani, Rohini Nilekani has raised about Rs 163.58 crore by selling 5.77 lakh of her shares of the company for philanthropic work.
Infosys has already hired 20 such talent.
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.
'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 Income Tax Department has slapped a tax demand of over Rs 450 crore (Rs 4.5 billion) on software giant Infosys Technologies for wrongfully claiming tax exemption on onshore services by declaring them as software exports, Parliament was informed on Friday.
Sikka has influenced the company to break away from the old mould in more ways than one.
'The meanness of the board statement apart, it nowhere answers the most fundamental and damaging aspects of the deteriorating work culture among top company executives to which Narayana Murthy had been repeatedly drawing attention,' says B S Raghavan, the distinguished civil servant.
Pavin Rao, a 28-year company veteran, to be second-in-command at Infosys.
According to several industry sources in the know, expenses towards deploying contractual staffer, which used to account 10 per cent of the overall billable employee cost at IT firms, has fallen to around 3 per cent. IT firms typically use the contractual workers from staffing solutions providers or subcontractors.
Its aim is to make computer programming accessible for everyone.
CEO Vishal Sikka's strategy is in line with focus on academic research in new technologies.
According to experts in human resources, even joining of new graduates is likely to be staggered as companies are expected to onboard staffers after gauging the demand scenario.
Annualised staff attrition rate at Infosys rose to a record 20.1 per cent in the September quarter.
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.
Restricted stock units can be an effective tool to curb employee attrition and retain key talent
Infosys Head India Business Unit C N Raghupathi said for the manufacturing sector, the key areas to focus on include new product innovation.
Through these new hires and centres, Infosys will also focus on enhancing its play in new technology areas like artificial intelligence (AI), machine learning, user experience, cloud and big data.
Despite higher gross additions, growth in overall customer base has been tepid for these companies, says Debasis Mohapatra.
'AI may perform tasks, but deep expertise and specialisation remain uniquely human.'
Infosys as working on becoming "independent of the visa issue" as much as possible and hire more locals
Sources said the promotions, most of those on the delivery side of the business, would be handed out before October.
Squeezing growth prospects in IT services firms and higher compensation in technology centres run by global companies are the two factors driving this trend.
Nasdaq-listed information technology (IT) services firm Cognizant will incur the cost of $400 million over two years as it sets to restructure its operations amid sluggish growth rates. Its NextGen Program aims at simplifying the operating model, optimising corporate functions, and consolidating and realigning office space to reflect a post-pandemic hybrid work environment. As part of this structural shift, Cognizant will eliminate 80,000 seats, or 11 million square feet of real estate in large cities in India.
The company had sacked former chief executive officer Phaneesh Murthy in May this year over an undisclosed relationship with a subordinate.
Infosys Technologies, India's second largest information technology services company, which is an early bird on campuses this year, says it will offer jobs to 13,000 freshers for 2010-11.
Deutsche India, which houses the largest technology centre of German investment bank Deutsche Bank, is expanding its operations in India and hiring thousands. "Since January 2023, we have hired more than 2,500 people for Deutsche India and expect a positive trend to continue for the rest of 2023," Dilipkumar Khandelwal, chief executive officer of Deutsche India and Global Head of Technology Centers told 'Business Standard'. "We will continue to hire in the similar range even for the next year." Deutsche India has about 16,000 employees in the country and most of them are engineers.
