Sources say some large companies are also letting go of employees who aren't open to re-skilling.
It has always been a high point for me at Infosys, says Shibulal.
The company requires a change in leadership, says T V Mohandas Pai, former board member and head of HR & administration at Infosys.
Asked if there was a timeline to see a turnaround at Infosys, Kamath said the country's second largest software services firm was a profitable company.
The company is reaping the benefits of change as focus shifts back to traditionally-profitable businesses and deal volumes.
Company's ADR fell 7% on Nasdaq after CEO Shibulal's comments.
The son is not being groomed for a bigger role in the company as of now.
Rohan Murty, Infosys co-founder NR Narayana Murthy's son, is working as an executive assistant to his father, CEO and Managing Director SD Shibulal said on Friday, addressing concerns about his role.
Having lost some key personnel, the IT company is sticking to its formula of scouting internally
Q4 turned out to be a much softer quarter than we expected, and some of the ramp-ups did not happen.
Top decision-making body, executive council, will be dissolved on April 1.
The stranglehold of the founders over the Infosys management has strengthened after the recent changes.
Infosys, TCS, Wipro and HCL Technologies are actively pursuing acquisitions to make up for slower growth in their traditional business.
N R Narayana Murthy, who returned as Executive Chairman of Infosys on Saturday, said he will be more effective with his son Rohan as an Executive Assistant but made it clear the latter has no leadership role.
At a time when speculation was rife about its course after the organisational rejig last week, Infosys on Friday validated the changes, exuding strong faith in its leadership pipeline and gave a clear signal that the company was unperturbed by the slew of senior exits in the recent past.
Infosys chief executive officer and managing director S D Shibulal will be in London to mark the first cross listing of an Indian company, a company statement said.
Sarojini Damodaran Shibulal, the 57-year old CEO of Infosys, is a true geek.
Customer deferrals, ramp-downs in a few large projects, delays in large deal closures due to Hurricane Sandy may cause threat to outlook.
Infosys president and board member B G Srinivas has resigned, the company said on Wednesday, the latest in a series of senior management exits at India's second-largest software services exporter.
Infosys, which is sitting on a cash pile of over $3 billion, has met criticism from investors and analysts as rivals like Tata Consultancy Services and Wipro have boosted their businesses with multiple acquisitions.
Shares of IT major Infosys tanked 9 per cent on Thursday as the company expects sluggish growth in the January-March quarter due to muted spending by clients, especially in the retail sector.
Infosys was the only company among the large software services firms, which had not hiked salaries so far.
Mukesh Ambani has got company of at least 29 fellow corporate executives, including four from his own group Reliance Industries, in terms of annual salaries running into crores of rupees for the latest fiscal.
Consecutive quarters of missed targets have alarmed the investor community.
Shibulal said currency effects and cancellation of a large transformational programme in Europe led to 'weak' quarterly results.
There has been speculation that Infosys is at an advanced stage of talks to buy a US firm operating in the public services and healthcare space.
The time is ripe to accede to the founders' plea to declassify them as promoters.
Chief Operating Officer S D Shibulal denied that the first quarter results regarding volume growth was impacted due to the ongoing reorganiastion process.
Infosys on Wednesday said it is keen to acquire Thomson Reuters' healthcare business. "We are dating...not yet engaged", Infosys CEO and Managing Director S D Shibulal said at a press conference in Bangalore, "We need to understand each other.
"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.
This is the first major change of guard at India's second largest information technology services company, in the wake of the retirement of co-founder and chairman, N R Narayana Murthy, last week.
Infosys Technologies appears to have set out on a journey of generational change which will unravel over the next few years.
India's billionaires are pledging a decent amount of their wealth for the welfare of society.
'India is a country where many of the problems need local solutions and some be solved using basic science.'
As four founder families sold part of their Infosys holdings on Monday, CEO Vishal Sikka said monetisation of shares for philanthropic and entrepreneurship purposes was in line with the company's values.
Four of the founders of Infosys are seeking to raise about $1.1 billion by selling stakes in the company.
There's a churn in Infosys' highest paid senior executives' list for financial year 2007-08, with Nandan Nilekani, S Gopalakrishnan and S D Shibulal conspicuously missing from the top five.According to a filing by IT bellwether to the US Securities and Exchange Commission, B G Srinivas, Ashok Vemuri and T V Mohandas Pai were the highest paid executives in FY08.
Infotech major Infosys Technologies Ltd is scouting for acquisitions in 'all geographies' to expand its overseas footprint, the company's chief executive officer and managing director S Gopalakrishnan said.
Infosys announced 11 January, 2008 as the date for its Q3 results release
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