Tata Consultancy Services has expanded its deal with European life insurance and pension consolidator Phoenix Group. Phoenix, which has been a TCS client for over 15 years, took over Standard Life Assurance in a 3 billion pound deal in August 2018. Phoenix took over about 3,500 employees as part of the deal, 2,900 of whom are in Edinburgh.
As the board investigates the anonymous complaints, Infosys CEO Salil Parekh said he was committed to executing the Infosys strategy and had served with commitment and integrity.
Whistleblowers claim CEO Salil Parekh hid information from the auditors to boost margin.
Infosys said the independent internal auditors were given a mandate to review certain processes.
Overall, the company has about 300,000 employees, of whom 75,000 are in India, and is growing revenue at over 8% year-over-year. “We did not have enough scale in India before the acquisition and Intelenet also gave a boost to our digital offerings,” said CEO Daniel Julien, who founded Teleperformance over 40 years ago.
Qualitest, an independent quality assurance and engineering company said former Cognizant President Rajeev Mehta has joined the board. Mehta will spend the next three months visiting a selection of Qualitest’s global offices in London, the United States and India to get an understanding of the company practices.
Founder NR Narayana Murthy and former senior executive TV Mohandas Pai were also marked in the mail that was sent to the board of Infosys last month by a whistleblower who alleged financial malfeasance by top executives.
Cognizant will remove a number of mid-to-senior employees, and redeploy about 5000 of those impacted. They will also exit the content moderation business for clients such as social media giant Facebook. The company has come in a significant scrutiny for the working environment of the moderators and the impact of the work on their mental health.
The interactive business requires more design as well as user interaction and experience building to hook end customers to a digital product or make a digital experience more enjoyable.
Apart from Rosen Law Firm, 3 other US firms have put out notices for filing class action suits against Infosys.
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