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.
Insurance, telecom, infrastructure, FMCG and energy are unlikely to downsize; Elsewhere, only top performers are safe.
The company seeks floor area ratio of 3, against the permitted 2, from Uttar Pradesh.
India's second-largest IT services provider Infosys Technologies has hired recruitment services provider MaFoi to help its employees who fail to pass the final test to gain employment elsewhere.
Analysts expect the company to post 6.2% sequential growth in rupee revenue.
Indian IT firms have started mining smaller clients with more fervour given that the revenue accruring from their top clients has been declining due to the US slowdown and the sub-prime crisis. Consider this. Revenue accruing from the top clients of the five leading IT firms by revenue - Tata Consultancy Services, Infosys Technologies, Wipro Technologies, Satyam Computer Services and HCL Technologies - dropped by anywhere between 0.2 per cent and 4 per cent
Indian IT majors may have tightened their belts in various areas to contain costs as a fallout of the global economic slowdown. But most of them see continuing value when it comes to employee training, even though it skims crores (tens of millions) of rupees off their top-lines.
Uber Chief Executive Officer (CEO) Dara Khosrowshahi sees India as one of the toughest markets and a standard to succeed in any other part of the world. One of the biggest challenges for the ride-hailing firm, according to Khosrowshahi, is the expectation of Indian consumers for more services at lower spending. "India is one of the toughest markets out there.
HCL Technologies was the biggest gainer in the Sensex pack, rising 5.58 per cent, followed by Tata Consultancy Services and Infosys, State Bank of India, Tech Mahindra, Tata Steel, NTPC and Wipro. In contrast, Nestle, Bharti Airtel, Maruti and ITC were among the laggards.
The UID will be used just for verifying someone's identity. It would be a 'yes', 'no' kind of an exercise. If someone's identity needs to be verified, only then these numbers will come in handy, says the UIDAI boss.
The Union ministry of corporate affairs (MCA) has informed Infosys that the appointment of Rohan Murty, son of co-founder and executive chairman N R Narayana Murthy, does not require its approval.
Among the Sensex firms, Wipro, HCL Technologies, NTPC, Reliance Industries, Infosys, IndusInd Bank, Tech Mahindra and Tata Consultancy Services were the major laggards. IT stocks fell on profit-taking after rallying sharply in the past two sessions. Tata Steel, Titan, Maruti, Larsen & Toubro, ITC and JSW Steel were among the gainers.
This is the first time, perhaps, Infosys has appointed as CEO a person who has never managed P&L or has any experience in managing lakhs of employees.
'A lot of the emphasis when we hire graduates is the learning for these new technologies -- whether it's cloud and digital data analytics, cybersecurity, or IoT, but also some of the new ones, such as Metaverse or other newer areas.'
Comments awaited on top exits, management rejig, products business demerger, apart from FY14 revenue forecast
A strident bill concerning US work visas for non-US citizens has been re-introduced before the US Senate. A look at the bill.
Team-building, lifting employee morale, stanching the attrition rate are a few immediate tasks on his hands.
The targeted budget for the project was reportedly projected at 750,000.
Flush with cash and stung by the rising value of the rupee against the US currency, Indian information technology companies are venturing into diverse geographies -- from Brazil to Ecuador.
Infosys has brought back the old structure of shared responsibility between the CEO and the COO
Operating margins have been the primary driver of corporate earnings in India in recent quarters, despite revenue growth suffering from weak consumer demand. Companies across sectors have reported a sharp improvement in earnings before interest, tax, depreciation, and amortisation (Ebitda) margins over the past two years, benefiting from lower commodity and energy prices. Higher margins more than compensated for slower revenue growth, resulting in double-digit growth in net profit for five consecutive quarters.
The poster boys for the information technology sector are already hiring in thousands -- both freshers from campuses, as well as experienced people (called 'laterals').
India second largest software firm Infosys on Tuesday said it plans to hire close to 2,000 people in the US by the end of this year.
'A cutback in hiring and compensation growth by IT companies will have a significant impact on consumer demand, especially in the urban sector of the economy.'
Software majors Infosys and Wipro, who are vying with each other for global information technology outsourcing contracts, have now joined hands to outsmart competitors and win domestic banking contracts.
As he prepares to step down, Infosys chairman N R Narayana Murthy reflects on the company he built, the future of IT and the effects of globalization.
Infosys on Friday posted healthy growth in earnings for July-September 2013, and raised the lower end of its FY14 revenue guidance, indicating the company had regained its momentum.
Nasscom president Som Mittal shares his view on issues such as the rise in value of the rupee against the dollar, hiring trends and the role of IT in e-governance.
The Bengaluru-based company is currently engaged with around 20 projects in the government sector, including those of central government departments and state governments.
IITians need to play a larger role in nation building and contribute to society. This could vary from mentorship, creation of jobs and broader wealth creation, said Nandan Nilekani, co-chairman and co-founder of Infosys Technologies Ltd, during the weekend.
Given the uncertainty on the US economic outlook, the rising rupee, and the lack of clarity on imposition of fringe benefit tax on stock options, analysts believe the companies may strike a note of caution on FY08 earnings.
Despite wage hikes, an appreciating rupee, and fewer working days nibbling at their profit margins during the quarter ended December 31, 2007, the five IT majors Tata Consultancy Services (TCS), Infosys Technologies, Wipro, Satyam Computer Services and HCL Technologies posted revenue and net profit figures that were in line with market expectations.
From the Sensex pack, Infosys, Tata Motors, UltraTech Cement, HDFC Bank, NTPC, IndusInd Bank, Larsen & Toubro, HCL Technologies, Power Grid, Maruti, HDFC and Tata Steel were the major laggards. Kotak Mahindra Bank, Asian Paints, Nestle, Titan, State Bank of India and Reliance Industries were the gainers.
Reminiscing time spent at the firm he co-created with six other friends in 1981, Infosys non-executive chairman S Gopalakrishnan said many major events in his life are linked to major milestones of Infosys.
Their fears were not unfounded, since the average salary increases of information technology professionals was down to 1.4 per cent for 2009.
The country's second largest software exporter Infosys Technologies on Thursday said the domestic IT industry is likely to grow by 15 per cent this year against 30 per cent growth last year in the wake of global slowdown.
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).
N R Narayana Murthy, co-founder and chief mentor of India's second-largest IT services provider Infosys Technologies, is planning to invest in US-based clean technology venture capital fund Siderian Ventures.
The Infosys saga shows how efforts to remote-control a company by its powerful promoter, even with good intentions, might hurt the entity, says Asish K Bhattacharyya.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances