While TCS cited evolving business needs and future readiness as reasons, industry experts say the action is a cost-cutting measure aimed at improving operating margins that have remained below the firm's aspirational range despite multiple efforts.
India's second-largest IT services company, Infosys, on Wednesday said it was planning to offer an apprenticeship programme with the National Apprenticeship Scheme (NAS) in the United Kingdom (UK). Through this programme, the company will provide apprenticeship in fields like marketing, human resources, among others, Infosys said in a release.
Infosys Technologies will soon induct two of its top executives to its board, to fill the vacancies left by the resignations of human resources and administration director Mohandas Pai and co-founder K Dinesh.
Move is also aimed at increasing billing rate and margins.
'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.'
The book also mentions how Murthy was averse to his wife joining Infosys despite being a fine engineer who knew she could contribute far more solidly to the company than helping with only the odds and ends that her husband assigned to her.
The company said in a filing to the US Securities and Exchange Commission that in addition to the salary, Pai earned a bonus/incentive of $117,336, other annual compensation of $21,779 and $15,287 as long-term benefits.
In a development considered an offshoot of the ongoing restructuring at Infosys, Aditya Nath Jha, a company veteran heading branding and corporate marketing, has resigned.
The company said attrition of high performers had declined to 11.2 per cent during the quarter
Pai, a highflier in the software giant (he is still just under 50), has a zen for cities. As human resources head of Infosys he is constantly scouting around in India for newer destinations where the company can set up shop to beat rising costs. And he is all the time benchmarking these against the worlds great cities to develop an agenda for change and betterment.
Parekh in a video address to employees expressed delight on leading the iconic company
The IT firm will soon initiate discussions with colleges to start the process from September.
As artificial intelligence (AI) threatens to replace jobs, a new report from Microsoft has suggested that Indian employees are caught between a fear of losing jobs and an opportunity to reduce workload by delegating tasks to technology. Microsoft's Work Trend Index 2023 found that while 74 per cent of Indian employees are worried about AI replacing their jobs, 83 per cent would delegate as much work to it as possible, to help lessen their workloads. More than three in four Indian workers would be comfortable using AI not just for administrative tasks (86 per cent), but also for analytical work (88 per cent), and for the creative aspects of their role (87 per cent).
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.
With the rush of growth after the pandemic slowing down, many leaders are moving to firms that may be smaller but are growing much faster and have the headroom to grow.
After high-profile exits in the past couple of months, Infosys, the country's second largest information technology services company, has undertaken a top-level management restructuring.
The company has decided to consolidate its delivery functions horizontally
The transformation will be driven by the number of initiatives the company has identified.
'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.'
For Krish Shankar, executive vice-president & group head of human resource (HR) development at Infosys, the defining moment of the pandemic on the HR department has been the importance that reskilling and learning have managed to get. For Infosys, the focus on reskilling started three to four years back as business saw a shift towards digital, and the pandemic has really brought the importance of reskilling to the fore. "In the past, certification courses or taking up an e-learning course was just a way towards promotion, and was not taken too seriously.
With the attrition rate continuing well above 20 per cent, one of the highest in the segment, Infosys is on a drive to reimagine the way it engages with employees starting from the time of recruitment itself. The company is using digital technologies in order to simplify recruitment, provide faster career track to employees, and incentivise people with top skills. The company is looking at doubling the number of recruits from tier-I engineering colleges such as IITs and NITs to enrich its talent base. These candidates who are offered twice the salary as compared to regular campus recruits, join as 'power programmers', a term that has been internally coined by the company to recognise the top coders.
After quitting Infosys Technologies Limited as its senior vice-president and group head, human resources, Hema Ravichandar has now joined Mercer Human Resource Consulting as an independent consultant.
Trouble started brewing after Cognizant announced that Ravi Kumar, former Infosys president, would take over as the Nasdaq-listed company's CEO.
Restricted stock units can be an effective tool to curb employee attrition and retain key talent
'AI may perform tasks, but deep expertise and specialisation remain uniquely human.'
Between 2000, when Steve Ballmer became the chief executive officer of Microsoft, and now, when he has announced his retirement, the company's earnings have more than doubled and its revenues have increased over three-fold.
Indian IT services companies have seen several CEO changes that have, over the past few months, led to some crucial exits at the mid-senior level in a trend that is likely to continue. According to a recent Motilal Oswal report, "Movement of mid-to-senior leadership at IT services firms is a reality, partially on account of multiple CEO-level changes.
Sikka pays 4 business heads million-dollar salaries as incentive to reach the company's revenue target of $20 billion by 2020.
H-1B workers have minimal skills, says Infosys whistleblower
Best performers get gifts such as foreign holidays, high-end cars and mobile devices
By the end of the June quarter, the top four - TCS, Infosys, Wipro and HCL Tech employed 10,15,000 employees - down by 9,144 employees over the previous quarter.
'Because of the failure of the UPA era (2004-14), we will add another 10 crore by 2025...total 20 crore in the 21-45 age group with low skills, low education.'
This is reportedly the first time that the names recommended by a search committee have been shot down by the HRD ministry
Colleges are witnessing more offers, with better salary packages. Median salary packages offered have improved over last year.
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.
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