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| 21 September, 2020, 07:36 PM IST | E-Paper
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    Allow surplus staff layoffs, flexible shifts: IT to states

    Industry lobby group National Association of Software and Services Companies (Nasscom) has sought furloughs and temporary layoff of surplus employees, relaxing daily and weekly work-hour limits, allowing women to work at night from home and a self-declaration regime to comply with government rules.

    Hikes, hirings and a visa workaround: Three cheers for Infosys amid Covid gloom

    Plans are also afoot to start massive recruitments in many parts of the world including in India soon, said Infosys CEO Salil Parekh.

    Infosys could be a multi-bagger for next 10 years: Rajat Sharma

    Global Indian giants would come from the IT pack because we do IT the best globally

    Infosys to eliminate roles to flatten organisation

    Company will trim its workforce in the ranks of delivery managers, AVPs, VPs and SVPs.

    The human dimension of India’s IT woes

    Many of those laid off were mid- or upper-level techies, with low lateral skills for other industries.

    Amid paycuts and layoffs, some companies chose to shield staff during the Covid storm

    Tata Consultancy Services (TCS), Wipro, and Infosys have deferred hikes. Reliance and Oyo have cut pays.

    Infosys lays off mid, senior level executives

    The company is letting go of 10% of the workforce, or around 2,200 people.

    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 step up reskilling of employees as they prepare for post-pandemic scenario

    Companies such as Infosys, Wipro, Accenture, Zensar Technologies, among others, have embarked on a massive upskilling drive to make sure their workforce in India is ready for the next-level jobs.

    Infosys freezes pay hike, promotion; to honour all job offers

    Infosys expects impact on its revenue since businesses across multiple sectors are hit by the outbreak of the coronavirus. The company sees its business to be hit in all geographies.

    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.

    Half of Nifty50 stocks trade at discounts to 10-year averages, but analysts not interested

    Nomura India said consensus Nifty50 earnings estimates for FY21 are down 27 per cent.

    COVID-19: We'll come out stronger from this situation, says Infosys CEO

    "Last year, we had 9.8 per cent growth and the year before 9 per cent growth. We've had a really extremely successful business over the last couple of years, a very strong operating margin and expansion in earnings per share, USD 9 billion in large deals," he said.

    Reskill to survive: Tech firms retrain staff on war footing

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

    Effective business management, global competition mapping key for India’s growth: Narayana Murthy to ET ILC members

    “Going ahead job losses will become more severe because even the organized sector is suffering. But we have overcome many crises before and businesses can survive this. If businesses follow some of the lessons from the 2008 crisis, drastically reduce their fixed and indirect costs, they can get back on the path of revival,” says Narayana Murthy.

    Indian IT staff on short-term roles in UK face hardships as projects dry up

    Many from India's IT majors who had travelled to client locations on business and work visas, got stranded.

    We’ve to guard against Covid apps increasing state power: Nandan Nilekani

    Nandan Nilekani has cautioned that contact tracing apps run the risk of increasing state power.

    Find out what advice Nandan Nilekani has for startups

    Talking about the road to normalcy and recovery in the aftermath of Covid19, he said it will take some time but it will give an opportunity for companies to become stronger.

    One plants ideas of reform which may take years to fructify: Nandan Nilekani

    ‘I am now comfortable with the pace of change in the system.’

    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.

    Techies, save your jobs like this: A win-win formula at Infosys

    It is upskilling employees which will help it cut attrition and acquire future-ready workforce.

    Karnataka govt tells IT/BT companies not to lay off, instead cut salary

    Deputy CM C N Ashwath Narayan, who is also in-charge of IT & BT department, held video consultation with the captains of the industry in light of the disruption caused due to the lockdown, and discussed on the way forward - both for effective implementation of the lockdown as well as the future course to deal with the unique circumstances.

    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.

    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.

    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.

    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.

    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.

    Specialists wanted: Generalist techies, your days are numbered now

    A shift is becoming evident in IT hiring. Firms now prefer only those who fit in their new business model.

    What changed for D-Street while you were sleeping

    CPI inflation stood at forty months high of 5.54 per cent in November, up by 92 bps from October. Increase in CPI was mainly led by lower base of food inflation and uptick in prices of vegetables and pulses.

    Infosys surprises its staff with 95% variable pay, highest in past 9 quarters

    Infosys in its results said it had managed to keep its attrition rate low in December quarter, thanks to salary hikes and higher variables.

    Infosys COO says not seeing pricing pressure

    Another cause for concern at Infosys is the fact that its pipeline over the last year has seen a greater proportion of renewal deals.

    Automation, AI continue to offer rich promises to Indian IT companies

    The advent of new technology paradigms like robotics, AI, blockchain and IoT is changing how companies and individuals consume technology and for the Indian businesses to remain successful, an update to the technology of tomorrow, today will be needed, Nasscom Senior VP and Chief Strategy Officer Sangeeta Gupta said.

    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.

    Infosys braces for bigger cost blow as Vishal Sikka bulks up on highly-paid talent

    Infosys is paying over Rs 1 crore to more than 1,800 employees in its overseas locations and it plans to hire 10,000 more in the US.

    Zero-distance programme: Infosys incentivises more than 500 project managers

    The zero-distance programme was one of CEO Vishal Sikka’s first major implementations at the company. It asks employees to create innovative solutions in each project.

    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.

    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.

    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.

    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.

    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.

    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.

    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.

    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.

    Techie, and worried about layoffs? These 20 skills can help you stay relevant

    Jobs replaced by automation do not go for good. You can beat the gathering gloom in job market by equipping yourself with the latest tech skills.

    Headcount cut as companies rush to automate IT, 4 out of top 6 report decline

    Though reports of companies laying off employees have been surfacing since long, this is the first quarter in which these many companies have reported a dip in employee numbers.

    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.

    Piyush Goyal says job losses is a good sign for economy, here's a reality check

    Of course, Goyal was not taking pleasure in the pain of the unemployed youth. Why he called it as a good sign was because he saw the youth getting self-employed.

    How one company's model could put an end to 9-to-5 jobs

    Employers all over the world are considering this new model. In just 10 years, you may be working from any place you like, and only when you like to.

    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.

    Why IT firms could soon be forced to let the senior techie go

    Emerging technology poses a big threat to jobs and companies. It can force companies to rationalise workforce and even finish certain jobs.

    Not pessimistic on IT jobs, startups should help: Urjit Patel

    While there could be pressure on employment in some of the IT sectors, it is not necessarily in terms of literally a job destruction, said Urjit Patel.

    Vishal Sikka's salary drops 67% in FY17, total payout down 7%

    His total compensation, including bonus and grant of stocks, fell 7 per cent to Rs 45.11 crore in 2016-17 from Rs 48.41 crore in the previous fiscal.

    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.

    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.

    Government allays IT job loss fears, says working on H-1B issues

    Sundararajan said the industry was continuing to grow at 8-9% this year, same as last year, and reports of massive job losses in the industry were untrue.

    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.

    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.

    No downsizing, to hire more: TCS chief Rajesh Gopinathan

    "We are here to create jobs, not to downsize," he asserted after TCS launched a BPO centre here to create new opportunities as part of the government's Digital India push.

    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.

    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.

    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.

    New US H-1B norms won't make much difference, says Nasscom

    The new policy envisages a detailed documentation of a legitimate employer-employee relationship while the latter is working at a third-party worksite.

    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.

    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.

    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.

    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.

    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.

    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.

    ET Top Recruiters Survey: Cognizant back on top with most hires from B-schools

    The ET Top Recruiters Survey found that 10 of India’s biggest recruiters hired a total of 1,175 MBA students from 26 leading B-schools in 2017.

    How to ensure a stable career and be free from job worries

    The need to secure and sustain a good job is critical. Find out how to ensure a stable career and free yourself from job concerns.

    Combined capabilities of TriZetto & Cognizant can let us cash in on big opportunities: Rajeev Mehta, CEO of IT services, Cognizant

    "We have to retrain and reskill our staff and I think you saw a conscious effort on that over the last couple of quarters….we still have some work to do."

    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.

    US government goes tough on Indian IT outsourcing; deals with Disney, Fossil under lens

    The latest contract to be scrutinised is one with Walt Disney, which recently signed a deal with US-based Cognizant Technology Solutions.

    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.

    Using social media to find the right job

    Social media is no longer a place for teenagers to post selfies. It can be a powerful tool to make you ready for next career move, to augment job search.

    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

    IT industry's plan of creating more jobs not rooted in reality: Head Hunters India

    The Indian IT industry, according Head Hunters, is likely grow 8-9 per cent in FY2017 and could grow at the same pace or accelerate in FY2018.

    IT companies may cold-shoulder BTech-only techies in future, says Mohandas Pai

    When asked about salary of freshers not growing in the Information Technology IT industry in the past two decades, Pai termed it as a "great tragedy".

    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.

    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

    Ten takeways from TCS'Q3 results

    Tata Consultancy Services reported flat revenue growth sequentially in the third quarter, the company’s worst performance in at least four years.

    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.

    Wipro Q2 earnings: Five things to watch out for

    Infosys, TCS and HCL Technologies have delivered on their guidance when they declared second quarter numbers.

    Hewlett Packard may axe 800 people in Bangalore after it loses grip on Bank of America account

    The employees being axed belong to level 1, 2 and 3, some of them part of the support team. These levels correspond to expertise in fixing problems.

    TCS, HCL Tech, Infosys under pressure on US immigration bill, job cuts

    IT companies have been under pressure as it grapples with both tailwinds in terms of currency; and headwinds in terms of US Immigration bill.

    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.

    $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

    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

    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.

    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.

    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.

    TCS blames ‘Q3 softness’ for tepid revenue growth

    "We do it every year. Involuntary attrition at TCS has been about 1 per cent every year in that range and this year, it is no different," Chandrasekaran said.

    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.

    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.

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