All stories by Shivani Shinde
TCS Hikes Campus Offers To...
Rediff.com23 hours ago'With Prime, TCS is making sure that we are able to secure the right high talent...' 'Colleges will make sure that students who are offered jobs in this category do not go for another company's hiring process.'
Wipro CTO Subha Tatavarti resigns to pursue opportunities outside company
Rediff.com1 days agoIn the ongoing saga of senior management resignations, Wipro announced on Monday that its chief technology officer (CTO) Subha Tatavarti has resigned. Her resignation will be effective from August 16, 2024. In a regulatory filing, the company said: "Subha Tatavarti, CTO, resigned from the services of the company to pursue opportunities outside Wipro."
Recession fears add to IT sector concerns
Rediff.com6 Aug 2024Fear of a recession in the US due to rising unemployment has added to the concerns of India's IT services sector, which was seeing some growth returning after Q1FY25 results. The Nifty IT closed 3.26 per cent down, as major IT services companies' stock value fell. Tata Consultancy Services (TCS), India's largest IT services firm, saw its stock price fall 4 per cent during intraday trading.
Q1 result review: Outlook positive for IT companies, challenges persist
Rediff.com30 Jul 2024The first quarter results (Q1FY25) of Indian IT services hint towards better fiscal growth than the preceding year, but as the management commentary said, "there is still some time for the industry to be firing on all cylinders." Among the majors-Tata Consultancy Services (TCS), Infosys, HCLTech, and Wipro-it is the Bengaluru-based Infosys that has performed better, which was also evident in its full-year revenue guidance.
LTIMindtree chief talks about the company's growth drivers
Rediff.com28 Jul 2024'We added a significant number of freshers in Q1. You will see a good number of hiring in Q2 as well.'
'TCS Is Not A One-Trick Pony'
Rediff.com26 Jul 2024'We are sure FY25 is going to be better...But to call out that all problems are behind us is a bit early.' 'The underlying business sentiment has not changed significantly.'
Infosys Plans To Hire 20,000 Freshers
Rediff.com19 Jul 2024The IT giant has reported a decline in headcount for six consecutive quarters.
'GenAI giving 30-40% productivity gains'
Rediff.com10 Jul 2024For Dinesh Nirmal (pictured), who heads IBM Software, one of his mandates is to integrate generative artificial intelligence (GenAI) into all products IBM builds and leverage it to enhance developer productivity across global labs. Nirmal believes that one of the biggest benefits of GenAI is automation, leading to optimisations and productivity gains. He shares that IBM Software has observed productivity gains of 30-40 per cent in some segments of software development.
Cognizant settles CFO lawsuit with Wipro
Rediff.com10 Jul 2024Nasdaq-listed IT services major Cognizant on Tuesday said the firm's Chief Financial Officer (CFO) Jatin Dalal (pictured) had reached a settlement in the "non-compete" lawsuit filed by Wipro. The terms of the settlement, which was reached without any admission of liability by either party, are confidential. The settlement resolves all pending disputes between Dalal and Wipro, said the company in a statement. Cognizant has paid $505,087 (around Rs 4.1 crore) in connection with Dalal's settlement.
IT firms may focus on tiered hiring strategy
Rediff.com18 Jun 2024As the job markets open up, top IT services firms may look at a tiered strategy in which they hire entry-level talents at higher salaries, amid a major technological shift, say HR analysts.
'Journey from $50 million to $250 million is hardest'
Rediff.com8 Jun 2024'We are looking at the next target which is to be a $1 billion ARR firm in the next 4-5 years.'
Tata Digital unveils leaner A-team under CEO Tahilyani
Rediff.com21 May 2024After weeks of organisational shakeup, Tata Digital's new chief executive Naveen Tahilyani has come up with a revamped executive team for the Neu super app. Tahilyani announced his A-team in an internal mail to employees. The focus of the rejig has been to streamline the structure of the leadership and make the firm nimble and business focused.
'86% executives using AI to boost revenue'
Rediff.com16 May 2024As many as 86 per cent of senior business executives have deployed artificial intelligence (AI) to enhance revenue streams or create new ones, said a report by Tata Consultancy Services (TCS) on Wednesday. As many as 69 per cent of businesses are more focused on using AI for innovation and increasing revenue than on improving productivity and optimising cost, said the 'TCS AI for Business Study'.
India's smartphone market up 11.5%; Apple rules the super-premium segment
Rediff.com15 May 2024India's smartphone shipment grew by 11.5 per cent in the first quarter of calendar year (CY) 2024 on a year-on-year basis to 34 million units. This is the third consecutive quarter of growth in shipments, International Data Corporation's (IDC) Worldwide Quarterly Mobile Phone Tracker said.
TCS COO Ganapathy's FY24 pay more than CEO Krithivasan's
Rediff.com10 May 2024K Krithivasan, chief executive officer (CEO) and managing director (MD) of TCS, took home a salary of Rs 25.4 crore in 2023-24 (FY24), less than chief operating officer and executive director N Ganapathy Subramaniam. Krithivasan took charge as CEO on June 1, 2023.
LTIMindtree misses revenue, profit estimates
Rediff.com25 Apr 2024IT services major LTIMindtree reported a net profit of Rs 1,100 crore for the fourth quarter of financial year 2023-24 (FY24), down 1.2 per cent year-on-year (Y-o-Y) from Rs 1,141 crore in the same quarter last financial year. Revenue grew 2.3 per cent Y-o-Y for the fourth quarter to Rs 8,892.9 crore. Sequentially, revenue was down 1.4 per cent.
Why 4,500 Indian IT Leaders Moved On
Rediff.com18 Apr 2024With 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.
TCS headcount declines for first time in 19 yrs; hits campus route
Rediff.com15 Apr 2024For the first time in 19 years, Tata Consultancy Services reported a fall in the net headcount for a financial year, witnessing its total employee base shrinking to 601,546 at the end of FY24. On a year-on-year basis, the company's headcount fell by over 13,249 for the financial year. On a sequential basis, the headcount was down by 1,759.
What IT Majors Want In Their Hires
Rediff.com11 Apr 2024Companies now require more than just academic marks; they seek students with internship experience or extra certification courses.
IT firms may report muted Q4 growth, eyes on FY25 guidance
Rediff.com10 Apr 2024With the last quarter of 2023-24 (FY24) expected to have been soft owing to lower discretionary spend and macro uncertainty, many are hoping FY25 will be a year of recovery for the information-technology (IT) industry. The fourth quarter, January-March, is considered soft, and will continue to see the headwinds the sector has been facing. And the sector has entered the new financial year on a weak footing. Analysts are expecting Tier-I firms to report sequential growth of -1 per cent to 1.5 per cent and midcap players' growth may range between 0.7 per cent and 4 per cent.