12,001.4091.25
Stock Analysis, IPO, Mutual Funds, Bonds & More

Infosys to hire more freshers, targets $150 million in cost savings

Analysts said the cost optimisation plan was a routine move aimed at reducing wage costs by hiring more freshers. The company’s margins have dropped significantly under CEO Salil Parekh, as it boosted investments to drive growth. The company is, however, now looking at greater cost savings, since a major chunk of its investments has been completed.

IT companies to shed 5-10% of mid-level workforce: Ex-CFO of Infosys

IT cos have no choice but to lay off some of their mid-level staff to become more agile, said ex-CFO of Infosys.

Indian IT employees stare at a mid-life crisis

​​The axe will fall mainly on midlevel employees and those who haven’t picked up relevant skills.

CITU condemns mass retrenchment of IT employees

"All these IT multinational companies have been earning huge profits and there is no reason to retrench employees. The firing operations are being taken up on the pretexts of ‘growth plans', ‘restructuring', ‘role rationalisation' etc, which are nothing but measures to maximise their profits at the cost of employees," CITU said in a statement.

Majority of senior Infosys executives still await hike

There’s wariness among some of those who have not received increments, considering the Indian IT industry is witnessing layoffs.

Reskill to survive: Tech firms retrain staff on war footing

Accenture, Infy, TechM, Cognizant, MphasiS investing to make workforce future-ready.

1,000 Verizon employees to move to Infosys

Some IT experts think that large deals like this come with low margins and taking over large numbers of people can make it difficult for IT vendors.

After Cognizant, other IT biggies like Wipro and Infosys also prepare for layoffs

Those taking the hit first are mid- and senior-level professionals. But lower level employees, too, will be hurt later in the year due to sluggish growth.

Surging layoffs plunge techies into depression

The layoffs in the IT sector this year - from biggies like Wipro, Infosys to smaller companies - have caught thousands of young professionals off-guard.

Lay-offs, H-1B visa rules spook techies

The H-1B visa is a non-immigrant visa that allows US- based companies to employ foreign workers, typically for three to six years, in various sectors that require theoretical or technical expertise.

Cognizant: Mighty growth engine comes to near halt

Two things happened around 2016 that might provide a clue to this collapse.

Layoffs rile India's flagship IT sector

Experts say automation, a failure to keep up with new technologies and US President Donald Trump's clampdown on visas is creating industry-wide upheaval.

Tech firms empty their bench in this season of layoffs

As manpower costs rise and new projects slow down, Indian IT companies have no choice but to reskill their employees and utilise their full bench strength.

Sad over recent IT layoffs, says Narayana Murthy

Infosys had announced that it could hand out pink slips to hundreds of mid and senior-level employees as it carries out bi-annual performance review.

Layoff season: IT staff head to school to stay in the reckoning

“The growing realisation among Indian workforce that reskilling is the only way to stay competitive led to a 37% increase in registrations during the February-April period compared to last year," said Raghav Gupta, India country director, Coursera.

Layoffs in IT companies: Is it time for trade unions to come into play?

Those in support of laid-off workers say the firing policies based on performance reviews are often discriminatory.

Haven't heard, seen massive layoffs in IT sector: Kris Gopalakrishnan

The growth rate has definitely slowed down because of which opportunities in the industry, especially for new recruitment, is down, Infosys co-founder Kris Gopalakrishnan said.

No mass layoffs by Indian IT companies, workforce realignment happens every year: Nasscom

"Such reports are incorrect. In fact the industry continues to be a net hirer with over 1.5 lakh people being employed on a net basis each year," Nasscom said.

Layoffs scare is real, not exaggerated, finds ET's Jobs Disruption survey

The stark takeaway from ET's Jobs Disruption survey of nearly 11,000 employees is that the fear of job losses is not overblown but a near-term reality.

Infosys chief Vishal Sikka calls on FM Arun Jaitley

Over the past few months, Indian IT companies are confronted with closer scrutiny and tighter visa norms in the US, a market that accounts for nearly 60 per cent of India's IT exports.

Reports of job losses overstated, to hire 20,000 this year: Infosys

"Layoffs are regular, performance-based things that we do every year. The number is really 300-400," Infosys COO UB Pravin Rao said.

Re-skilling, not layoffs, will address new challenges: Infosys

"If technology changes and people don't have those capabilities, you've to re-skill them and re-orient them," Infosys's Pravin Rao said.

Tamil author who had declared his ‘death as a writer’ shines at Times Litfest

The event had its share of lighthearted conversations with actor Soha Ali Khan, Sanjana Kapoor, poetic performances by Sonam Kalra, William Dalrymple, Anjum Hasan and music by The Clinton Cerejo Band.

Infosys to hire 6,000 engineers annually over next 2 years

Infosys has stated that it is in favour of a healthy mix of local and global personnel, even though hiring locals overseas often pushes up operational costs.

Pay cut or layoff? A look at what India Inc CEOs think is better

Harsh Goenka, chairman of RPG Enterprises, said one has to pay top management as per market norms and fairness in salary is important.

Hiring 10000 in US in 2 years, we do that in India in 2 quarters: Infosys

Asserting that hiring in the US will not impact its recruitment plans in India, the Bengaluru-based company said it has rolled out campus offers to 19,000 people here.

Infosys trying too hard to flaunt digital chops, but struggling to be cool

Team Infosys on Friday went out of its way to look relaxed and act cool.

Is Bengaluru being Bangalored? Layoffs, job loss fears leave techies reeling under uncertainty

Multiple factors — prospect of a stricter US visa regime and the automation of certain jobs in the sector — have led to the latest retrenchment cycle.

Infosys, TCS other IT stocks tank on Cognizant buzz, rupee rise

Domestic IT giants are bracing for tougher rules for H-B1 visas in the US and disruptions due to new technologies

Infosys defers salary hikes till July; no job cuts planned

For employees ranked JL5 (job level 5) and below — typically those with less than eight years of experience — the compensation review will be effective from July.

Infosys co-founder NR Narayana Murthy suggests ways to stop job losses

Murthy said while there is no reason to be very anxious, it is possible to protect jobs if senior execs take salary cuts and invest in training employees.

Reports of depression among IT professionals exaggerated: Mohandas Pai

Former Chief Financial Officer of Infosys, TV Mohandas Pai said such "exaggerated" reports are based on a few events and there are attempts to blow them up.

Nearly 1,000 senior, mid-level Infosys employees may be asked to leave

Large IT services firms, according to reports, are in the process of laying off employees on a scale not seen since the 2008-10 downturn.

$1 bn out of $2 bn revenue in last 2 yrs from new services: Vishal Sikka, Infosys

Vision 2020 was formulated to motivate people and as a rallying goal , says Sikka

Techies well taken care of, no need for union: Ex-Infosys CFO V Balakrishnan

"Whenever there is a downturn, there is always noise about unions coming into play in the IT industry but it never sustained," Balakrishnan said.

Karnataka government drops idea to set up IT labour unions

Kharge said there were concerns of amending the IT-BT Act to allow unions. “To bring unionization, there needs to be an amendment in the IT Act. It’ll prove quite tedious to bring about the change,” he added.

Ruthless layoffs won’t make hiring easy for startups

As startups including Zomato and TinyOwl let go of employees because of changed strategies or shrinking funds, experts warn that the recent rush of layoffs could undermine hiring for India’s emerging businesses.

Want to focus on newer metric that will make sense in 3-5 years: Pravin Rao, Infosys

Onsite employee cost as a percentage of revenue came down to 38.5% against 39.3% in same period last year

No change in IT hiring pattern, say senior industry figures

According to a survey released earlier this week, Indian IT professionals are likely to see reduced job opportunities in the next six months.

How startups should handle mass layoffs to stay alive

Communications on layoffs should be handled sensitively, and not through town-halls, said independent human resource adviser Hema Ravichandar.

US Senator Jeff Sessions censure Microsoft over layoffs

The company announced on July 8, 2015 that it was cutting 7,800 jobs in addition to 18,000 it cut in its last fiscal year.

Kin of TCS employee who died on duty want details of medical care, emergency protocol on campus

Raj was on a conference call Monday evening with US-based technologists when he collapsed. He was taken to The Chettinad Health City in Kelambakkam by a colleague.

Gentle deceleration in IT net hiring growth rate: Minister

The growth in total employees stood at 7 per cent in 2014-15, which came down to 6 per cent the following year and was 5 per cent in 2016-017.

IBM India staff still battle tech blues fearing more layoffs

From around 1.65 lakh employees on its payroll in 2011, IBM's India headcount is expected to slide to one lakh by March this year.

Now jobs losses at IBM India, 5,000 employees under fire

IBM did not confirm the number of employees who will be affected but said that "re-skilling and rebalancing is an ongoing process as we accelerate the benefits of cloud technologies for clients."

Are you a mid-level employee? It's time to shape up or ship out

Middle-level employees face the twin challenges of their jobs being made redundant by technology and cos preferring employees with emerging skill sets.

Job cuts at Indian outsourcing firms aren't Donald Trump's fault. Read why

Global corporations, the paymasters of Indian software vendors, are no longer so keen to ante up for application development and maintenance.

Takeaways from Infosys' analyst meet: Q2 nos, Brexit, exits and more

The company said it would give a clearer picture on the company’s prospects in its next meet in October. The September quarter will be better than Q1, it said.

Market Now: IT stocks in green; Infy, TCS, TechM surge

In the Nifty50 pack, 30 stocks were trading in green, while 20 stocks were in red.

Why being a techie in India is no longer cool

Working with a technology company in India today is fraught with risks. Indian IT is facing several challenges which has taken the sheen off the sector.

Indian techies take to social media to vent their ire

The job cuts are also affecting mid-to-senior employees who are at the centre of the reskilling and restructuring conversations happening across the sector

Indian IT will see challenge on margin front: Madhu Babu

TCS is a best performing company, last they did 8.5 per cent in constant currency terms.

IT Employees Associations against Mohandas Pai's statement

Pai had yesterday accused people, who are making efforts to forge a union in IT industry, of trying to "create a hype, fear-mongering".

IT Employees Unions pitch for 'compassionate unionism'

The IT employees associations today sought to allay fears of Infosys founder NR Narayana Murthy towards trade unionism.

If you are techie with 5-15 years experience & based in a small city, this should worry you

According to executive search firm Head Hunters India, job cuts in IT sector will be between 1.75 lakh and 2 lakh annually for next three years.

US opens probe against TCS, Infosys for H1-B visa violations

The move comes days after report that hundreds of employees at entertainment giant Walt Disney were laid off and replaced with Indians holding H1-B visas.

Debjani Ghosh to take charge at Nasscom, will be the first woman to head tech body in 30 yrs

Intel Corp veteran Debjani Ghosh is set to be president of the National Association of Software and Services Companies — 3 decades after its formation.

Infosys CEO says no layoffs this year

Infosys CEO says his company will not lay off software professionals this year, but absorb them in internal projects. Infosys' cash, equivalents cross $2 bn mark

Now Tech Mahindra looks to lay off hundreds on 'performance' ground

The company did not specify the number of employees that could be asked to leave. Industry sources suggest that the number would run into hundreds.

IT workers fora flay steep hike in top executives compensation

According to the 2017 annual report of Infosys, payouts of at least four Infosys executives have increased by over 50 per cent in the previous fiscal year.

BJP gave Yashwant Sinha everything, pained by his language: Ravi Shankar Prasad

Prasad, who also holds the law and justice portfolio, was in Gandhinagar to participate in the 'Gujarat Gaurav Yatra' organised by the state unit of the BJP.

IT employees get nod to set up trade union in Karnataka

The nod to set up India's first dedicated IT employee union is a significant moment, the first big breakthrough for techies grappling with prospects of job loss.

IT companies tighten costs, hire less experienced staff

To retain margins, IT cos are increasing proportion of fixed cost projects in revenue, tightening costs and recruiting more freshers, less experienced staff.

Despite pink slips in IT and startup firms, job prospects not all that bad: Experts

Layoffs are becoming pretty common these days as there were recent reports of job loss in Flipkart, Askme, Ola and Infosys, among others.

Don’t believe in gloom and doom! IT to remain net recruiter for years

If various reports are to go by, aggregate job losses at 7 IT companies will be 56k in 2017.

What do Q1 nos say about IT jobs outlook? Not as bad as you thought

TCS’ total headcount fell to 385,809 in Q1, while that of Infosys declined to 198,553.

Employee separation offer first time in India and US: Cognizant

The programme gives participants a chance to explore other opportunities while making way for the next generation of leaders to step up.

Not correct to assume IT industry going for big job cuts: Government

"Some of the companies which have been named (as undertaking job cuts) have clarified that there is nothing big this year," she said on the sidelines of Broadband India Forum event.

Job losses in tech sectors may reduce home sales in IT hubs

However, experts said the situation definitely does not warrant such panic, especially at a time when residential market is seeing the green shoots of a recovery.

need2know: 10 macro cues for your day on D-Street

India Inc is promising better pay hikes of 10-15% for the right talent in 2018 after a challenging year for the job market

How Trump's presidency will hit Indians' jobs, studies and travel

The impact will be felt beyond markets and investing. It will hit your child’s education and career plans and your family’s travel.

Mid-level workers are least valued, most at risk, finds ET's Jobs Disruption Survey

When asked who was more worried about layoff in your company, 66% said it was mid-level employees, 22% senior level managers.

Mentoring of entrepreneurs is missing in India: Tarun Khanna, Harvard Business School

Layoffs, shutdowns and funding concerns are episodic blips in evolving startup story in India, bigger structural issue is the way the incentives are currently set up.

TCS’ Mr Dependable Ravi Viswanathan is new marketing chief

Viswanathan will be based in Chennai, and his earlier role - managing emerging geographies - has been given to HR head Ajoyendra Mukherjee.

Visa woes, wage hike begin to hurt Indian IT giants; tepid Q1 on cards

IT firms are hoping that digital deals will offset decline in traditional services. But any pushback in deals will weaken growth momentum, experts said.

Vishal Sikka just one of the casualties as 'hire American' hits India

While Sikka cited heightened acrimony with founders at Infosys, the malaise is much deeper, and threatens to become a faultline for Asia’s No. 3 economy.

Donald Trump blamed for job losses as India tech workers face cuts

Cognizant, Infosys, Wipro won’t disclose how many jobs they cut, but it appears the industry is going through one of the largest retrenchments in its history.

Lost your job? Stay positive, don't give in to depression

De-stressing exercises can be helpful for people seeking to come to grips with a layoff, said Ekta Soni, consulting psychologist at Delhi’s Indraprastha Apollo Hospital.

We are confident that what we are doing is good for the US economy: Francisco D'Souza, Cognizant

"As digital becomes more prevalent we are looking for skills like design talent and data science and we will hire those folks in other parts of the world, the US included."

10 stocks that created all the buzz during the week gone by

Last week, the Sensex hit a high of 29,838 and low of 29,442 during the week. The Nifty50 fell 47.50 points, or 0.51 per cent for the week to settle at Rs 9,150.

A poor economy not an excuse for lay-offs: Murthy

Layoffs are an inevitable aspect of the corporate world, especially in recession. But a poor economy should not be an excuse to cut jobs. Infosys to focus on small buys

After $32 billion rally, TCS CEO Rajesh Gopinathan sees path to even faster growth

The chief executive officer of Tata Consultancy Services Ltd. argues the industry’s opportunities today are bigger than they’ve ever been.

IT industry’s current problem is nothing compared to 2001: Narayana Murthy

A stable corporation is one where every employee is happy, says Narayana Murthy

Nasscom steps up US lobbying on immigration, visa issues

According to the latest lobbying disclosure reports filed with the US Senate, Nasscom paid a total amount of $1,50,000 to its two registered lobbyists in the first quarter of 2017.

Mahindra Satyam defers salary hike, incites fears of lay-off

The company intends to send out letters communicating the revised salaries by September and give the increments effective October 1.

Experts' take on how India Inc handled layoffs

Here's what experts closer home have to say on the subject of layoffs and how India Inc handled it.

The A-Z of what made the workplace and campus tick in 2016

As the year draws to a close, Team ET brings you the A-Z of the defining points of 2016…

Now, techies spooked by fear of layoffs

Staff with IT cos are spooked by fear of layoffs as demand for IT services slows down. Working from home? I Projects to save jobs I Premji's 7 Commandments

H-1B visa for foreign talent, not to replace US workers with cheap labour: US media

The daily said companies are able to "skirt the rules for using H-1B workers by outsourcing the actual hiring of those workers to Tata, Infosys and other temporary staffing firms.

Bulk hiring by IT companies at tier-2 & 3 engineering colleges and B-schools may get hit hard

Placement heads across colleges said they are keenly tracking developments on layoffs, visa issues, etc, and ensuring students are kept in the loop.

Sacked IT employees approaching unions for support

Retrenched employees claim their former employers pressured them to hand in resignations instead of firing them, thereby saving on the expense of severance pay.

​Why job prospects in IT outsourcing will only get worse in the coming years before they get better

With opportunities shrinking and markets transforming, a fifth of 40 lakh Indian software engineers are likely to lose their jobs by 2020.

Being lean helps us grow in tough times, says C Vijayakumar of HCL Technologies

If you look at our Mode 2 and 3 business (non-traditional spend), that has really grown by 30%, said HCL Technologies’ CEO C Vijayakumar.

Payback time: Cos may face heat for layoffs, salary cuts

Cos that went for layoffs & pay cuts during slump should be prepared to reap whirlwind. Best Employers for biz & engg students | 10 tips to avoid getting fired

Top stocks in focus on Monday, 20 March 2017

Even if the market turns rangebound for in a broader consolidation move, expect plenty of stock-specific action in a market that looks flush with foreign portfolio money.

Infosys to start work in West Bengal centre in 3-6 months, hire 10,000 by March 2012: S Gopalakrishnan

S Gopalakrishnan said while 35,000 professionals had been already hired so far this fiscal, another 10,000 would be hired by the end of March, 2012.

18,000 freshers to join Infosys by July

Software Major Infosys said on Monday that all 18,000 students selected by it from various Engineering colleges across the country in 2009-10 would join the company in July this year.

Other useful Links


Follow us on


Download et app


Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service

BACK TO TOP