With a view to tap the east Europe market better, the Nasdaq-listed software major Infosys is planning to set up a centre in Czechoslovakia for both information technology and business process outsourcing operations.
He spoke on key strategies the company is adopting to tide over the rough times.
'Our phones are taken away as we enter the room.' 'They are just asking us to sign without any discussion. If you ask for a discussion, they say, 'Sign first'.'
Cognizant has said it aims to be back among India's top four IT services companies by 2027 by improving revenue, market share, bagging large deals, and gradual margin expansion. The Nasdaq-listed company does a major part of its business in India, but has trailed peers such as Tata Consultancy Services and Accenture over the last few years as growth tapered, margins squeezed, and attrition soared.
"We plan to hire 2,000 people in the next four-five months or by the end of this fiscal. Currently we are 16,000 people in India."
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.
'We treat attrition as a business problem, not just an HR problem,' says Amitabh Chaudhary, Infosys BPO CEO.
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.
Quarterly revenues may be volatile, as spending will be driven by the global macroeconomic situation
Infosys Technologies' third sponsored ADS offering has been oversubscribed 3.4 times on a global scale. Infosys has priced the offer at $53.50 taking the total value of the offer to $1.6 billion.
IT bellwether Infosys Technologies on Tuesday said it has increased its headcount by 4,429 employees in the last 3-month period.
The all-cash transaction is likely to be complete in the first quarter of 2020, subject to regulatory clearance.
West Bengal government hopes that Infosys Technologies will follow in the footsteps of other IT majors in setting up its development centre in the state.
Indian-origin tech companies cornered a fifth of all H-1B visas issued by the US with Infosys and Tata Consultancy Services leading the pack, an analysis of data from the US immigration department showed. According to data from the US Citizenship and Immigration Services, in April-September 2024 period, out of the total 1.3 lakh H-1B visas issued to different employers, about 24,766 visas were issued to Indian-origin companies.
Layla Bolten claims she was harassed by colleagues; sues firm in US; company says charges are 'false and baseless'.
Infosys Technologies, India's No. 2 software services exporter, is undecided on the timing of its proposed American Depositary Share issue, a company official told Reuters on Friday.\n\n\n\n
IT behemoth Infosys Technologies Ltd, which came out with its third quarter earnings, is awaiting approval for 219 patent applications in India and the US.
The deal will give Infosys higher-end consulting capabilities and enable it to grow in a non-linear fashion. It will also enable Infosys to acquire some global names as clients and improve the Indian major's footprints in Europe at a time when Indian firms need to reduce their dependence on the US market.
Perennial traffic problems in Bangalore and high hotel tariff and occupancy rate here are prompting some city-headquartered software biggies to think in terms of owning a hotel on their own for clients and visitors.
Infosys, TCS, and Wipro still rake in profits, but they face challenges ranging from a stronger rupee to the likes of IBM and Accenture romping on their home turf.
Software major Infosys Technologies on Thursday said it has reached an agreement with Citicorp International Finance Corporation to acquire the latter's stake in its BPO arm Progeon Ltd for $115.13 million (nearly Rs 518 crore) in cash.
Paying more attention to offering clients end-to-end solutions, even as the firm grew new lines of business, will be the way forward at Infosys Technologies.
The total headcount of Infosys and its subsidiaries stood at 104,850 employees as on March 31, 2009, the company said in a statement. 'During the quarter, Infosys and its subsidiaries added 4,935 employees (gross). The net addition during the quarter was 1,772,' it stated. In the entire financial year ended March 31, 2009, the company took on board 28,231 employees, but the net additions for the year were just 13,663.
Infosys Technologies, will announce its Q4 and FY15 results on April 24
Crisil has assigned corporate governance 'CG' and value-creation rating 'GVC level-1' to Infosys, indicating the highest capability to create wealth for stakeholders while adopting corporate governance practices.
Shares of Infosys hit a five-month low of Rs 1,419.60, down 1 per cent on the BSE in Tuesday's intra-day trade. The stock was quoting at its lowest level since October 10, 2022. In past two days, the stock of information technology (IT) bellwether was down 4 per cent after the company on Saturday informed to the stock exchanges that Mohit Joshi, president of the company has resigned effective March 11, 2023. Mohit Joshi will be on leave thereafter and his last date for the company would be June 9, 2023, Infosys said in an exchange filing.
Infosys has added 27,000 employees in 2008 so far. Developing its human resource and creating a training and recruitment engine is high on its agenda.
"What has changed in the last two quarters is that the markets have improved and deals are coming back. We see more deal-flows," Infosys' CEO and managing director, S Gopalakrishnan, told reporters on the sidelines of a CII meet in Mumbai on Wednesday.
State Bank of India has selected Finacle Universal Banking, the core banking solution of Infosys Technologies, to power its international operations
Mid-tier information-technology (IT) companies last financial year reported better growth numbers than their larger counterparts, highlighting their ability to navigate the uncertain macroeconomic environment. Most of these companies - such as Persistent Systems, Coforge, KPIT, and Mphasis - focus on niche businesses and industries that allow them to go deeper in terms of client mining and expanding wallet share from existing customers.
IT major Infosys Technologies Ltd on Thursday said that it would invest Rs 800 crore more during the current fiscal.
That's how Infosys CEO Nandan Nilekani sees the country's impact on the US economy, through globalisation and outsourcing.
Against the backdrop of a clampdown on visas by the US and growing antagonism towards foreign workers and immigrants in that country, Infosys Technologies, India's second-largest IT services firm, is mulling an 'extreme offshoring' model to help reduce its dependence on H1 and L1 visas.
Artificial Intelligence-first business strategy adopted by Infosys is working well for the company despite unresolved ethical and IPR issues around the technology, Infosys chairman Nandan Nilekani said on Wednesday. In his address at Infosys' 42nd Annual General Meeting, Nilekani said the company can be more efficient while nurturing readiness for growth, given its performance in challenging scenarios created by inflation, interest rates, geopolitics, demand volatility and supply chain dislocations. "Several practical, ethical and intellectual property-related issues, when it comes to AI remain unresolved.
"People addition is on track for 45,000 (employee hiring) target for the financial year 2012. The company will focus on local hiring. We have hired 1,000 people in the US in the last four quarters," Infosys Chief Executive Officer and Managing Director S D Shibulal said.
Infosys made this position clear, a day after its chairman and chief mentor N R Narayana Murthy reiterated that his company would not act on any CVs received from Satyam employees to ensure that nothing is done that would adversely impact the Hyderabad-based firm's future.
