IT firm Cognizant on Friday said it will give employees who are at associate level and below in India and the Philippines, an additional payment of 25 per cent of base pay for April in recognition of their extraordinary continuity-of-service efforts amid the covid-19 outbreak. The move is expected to benefit over 1,30,000 Cognizant employees in India.
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'If (by the end of the deal) the talent that owns the customer relationships is not there, will L&T still get the value it is looking for?'
There are concerns in the industry around budget cuts by clients and layoffs, as enterprises grapple with reduced earnings amid lockdowns across various parts of the globe.
'Remote Working/Work from Home' strategy has been activated to aid social distancing in the impacted regions. Travel advisory across the organisation has been issued with full precautionary measure.
India has been maintaining that China has no locus standi in commenting on Jammu and Kashmir.
PSG College of Technology has invited IT firms and external agencies to conduct training.
Rising protectionist policies followed under Trump administration has prompted all IT services players to hire more locals in onsite geographies, especially in US.
Once implemented, Rishad Premji will be one of the youngest business leaders to don the role of non-executive chairman at a large cap Indian company.
The Customs clearance required for moving equipment like laptops, desktops, etc out of SEZ units was delaying things as the clearance had to be taken in person after a first level of approval online.
The government has so far received about Rs 26,000 crore from AGR payments, including adhoc/ buffer amounts given by telcos to meet any reconciliation differences with the telecom department.
He said the government would provide meal at Rs 10 to common citizens and build a super-speciality hospital in every district of the state.
The strike, however, had no impact on production of auto majors Maruti Suzuki India, Hero MotoCorp, Honda Cars India, Mahindra & Mahindra, Tata Motors and Hyundai Motors India as their plants in various parts of the country functioned normally.
Nasscom and the Chinese government have given the task of creating a matchmaking platform to Zeta-V, set up in June 2017 in Shanghai by Sujit Chatterjee, former CEO of TCS China, and Rangarajan Vellamore, former CEO of Infosys China.
In a deal that had marked India's first-ever hostile takeover bid in the IT space, L&T had bought 20.32 per cent shares in Mindtree from V G Siddhartha and his coffee enterprise for over Rs 3,000 crore in March. Nalanda India Fund and Nalanda India Equity Fund have also sold majority of their holdings in Mindtree in L&T's open offer.
Chingari, Roposo, Khabri and Trell are seeing huge traction as people are looking at options to earn incentives from home. Music streaming app Gaana, which is strongly placed in the market with 150 million users, recently opened up its short video platform for subscribers.
'There is large-scale sacking, and salaries in smaller companies are lower than the minimum wages of Rs 18,000 a month.'
With a total compensation of Rs 1,500 million, C P Gurnani of Tech Mahindra is the highest paid CEO of a tech firm.
According to Nasscom, engineering services exports had grown at 13 per cent in 2017 compared to six per cent rise in IT services exports and eight per cent in business process management (BPM). It had also recorded the highest growth in the last three years, reports Debasis Mohapatra.
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Indian IT companies like Tata Consultancy Services, Infosys, HCL Technologies and others have taken the buyback route to return some wealth to their shareholders, while potentially boosting their stock prices.
The buyback, at Rs 2,100 per equity share, entails up to 7.61 crore shares or 1.99 per cent of the total paid up equity share capital.
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Experts said this would not only reduce Infosys' dependence on the H1B visa, which has seen increased restrictions under the current US administration. It will also help the company in building an employee pyramid for its future operations.
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Across the country, companies have stepped up their act to contain the crisis. IT and other new economy firms seem to have taken a lead.
Despite higher gross additions, growth in overall customer base has been tepid for these companies, says Debasis Mohapatra.
The penalty collected from Mazumdar-Shaw will be donated to a charitable organisation of her choice.
The deceased -- two couples and four children -- were part of a group of 15 people travelling from Kerala to Pokhara, a popular mountainous tourist destination. They have been identified as Praveen Krishnan Nair, Saranya Sasi, Sreebhadra Praveen, Aarcha Praveen, Abhinav Saranya Nair, Ranjith Kumar Adatholath Punathil, Indu Lakshmi Peethambaran Ragalatha and Vyshnav Ranjith.
Attempts are being made to balance the need for health of the sector, consumer interest while complying with the Supreme Court order on statutory dues.
According to a source, the founders, which include Subroto Bagchi, N S Parthasarathy and Krishnakumar Natarajan (who together hold about 13 per cent), may look at selling their shares as well in the open offer that concludes on June 28.
With this rejig, Mindtree's board will now have 12 board members from eight.
The Department of Tourism said that a five-member committee has been formed to investigate if the resort was following the standards set by the government.
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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.
In the last couple of months, the IT and BPO space has seen a big uptick in M&A activities, with companies merging with other entities to become bigger players.
Digital, cloud, engineering services, and cybersecurity will drive Wipro's growth. 'Based on approval from the board, we have decided to step up our investments significantly in these four big bets,' Premji said in his last address as executive chairman.
Sikka has been appointed as the Executive Vice-Chairman, Infosys said.
According to the latest annual report for 2017-18, the percentage of the company's employees in the age group of 18-25, came down to 28.16 per cent, from 31.19 per cent in the previous financial year.
"For me, violence is always condemnable. I believe in non-violence throughout. Violence is no solution for anything."
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