TCS Layoffs
- Budget-making team of Finance Ministry short of two key officials
- Citizenship (Amendment) Bill to be tabled in Lok Sabha for passage on Monday
- Passage of Citizenship Bill in Parliament will mark victory of Jinnah's thinking over Gandhi's: Tharoor
- Modi govt resolves to make changes in IPC, CrPC: Amit Shah
- India in growth recession; extreme centralisation of power in PMO not good: Raghuram Rajan
- India's real GDP growth in FY20 to come below 5%: IHS Markit
- Anaj Mandi fire: Delhi CM announces Rs 10 lakh ex gratia to families of deceased
- PM Modi announces ex-gratia for families of those killed in Anaj Mandi fire
- Govt to launch PMKVY-III in next financial year: Skill development minister
Volkswagen whistleblower says he erred in trusting GM, not circulating his CV after 2018 layoffs
Hemanth Kappanna's research exposed Volkswagen’s decade long conspiracy to lie about its diesel cars’ emissions.
TCS says it can weather slowdown without any layoffs
Though Indian IT is predicting strong growth this year, a slump in US & Brexit may upset plans.
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.
TCS layoffs: Nasscom takes stock
Though Nasscom cannot initiate a formal enquiry, sources ET NOW spoke to say the software lobby is in touch with TCS over the issue.
Big hikes for Cognizant brass
The compensation increases have come at a time when the company said it was laying off as many as 200 senior executives.
Automation will lead to more on-demand hiring: TCS
This year, the company had already given out job offers to 20,000 on-campus candidates which had been the same as in the previous year. Off-campus hiring had been 4,000, the official said.
Cognizant: Mighty growth engine comes to near halt
Two things happened around 2016 that might provide a clue to this collapse.
IT layoff numbers are exaggerated, says top TCS executive Ravi Viswanathan
Defending the industry as a whole, Viswanathan said that early estimates from Nasscom indicate that the IT industry will be net hirers as the year ends.
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.
TCS employees get 100% variable pay
The country’s largest software exporter has declared 100% of the target variable pay to all employees on its India payroll for the quarter ended December 2017.
TCS AGM: N Chandrasekaran thanks Cyrus Mistry on shareholder nudge, denies layoffs
Chandrasekaran, who climbed to the top at TCS before becoming Tata Sons chairman earlier this year, also denied any impact of protectionist policies.
This is the time for a lot of optimism in IT job front: TCS
“TCS is on 26%-28% margin trajectory in several areas”
Not firing employees in Lucknow: TCS
TCS said that it is working to ensure that employees get opportunities in Noida and other centres across India as part of its UP consolidation.
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.
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.
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.
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.
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.
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
TCS Finland to lay-off up to 290 employees
TCS, which has a registered office in Helsinki is in negotiations with the employee representatives over the move to cut jobs.
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.
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.
Team Trump accuses Hillary Clinton of ties with TCS, HCL who 'stole' US jobs
A report says the two companies gave money to Clinton either via donations to the Clinton Foundation or paying Bill Clinton to deliver speeches.
TCS bullish, but high attrition, weak top line growth a worry
Closer look at the trend in the top line growth, attrition rates, and attrition as a percentage of the total workforce over the past seven years.
2,574 employees asked to leave in Apr-Dec 2014, says TCS
While terming these exits as "involuntary attrition", TCS claimed it does not plan to initiate any large scale layoffs of any section of its staff in any part of the organisation.
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.
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.
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.
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.
TCS prepares for restructuring; may ask non-performers to leave
Although details of this remain sketchy, the Mumbai-based software exporter calls it a regular exercise undertaken by the company.
TCS job cuts spur legal threats, unionization calls
TCS has reiterated over the last two weeks that there is nothing out of the ordinary in these job cuts & hiring target of 55,000 for FY15 remains on track.
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.
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
This year our hiring onsite is going to be higher compared to what we have been doing: Ajoyendra Mukherjee, Head- Global HR
"We are training people internally and we had given more trainees offers the prior years. The trainee offers that we had given last year was about 40000 plus."
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.
State governments hire laid-off IT talent to head projects
Priyank Kharge said that even though Karnataka has not done such hiring, but has been constantly looking out to skill and reskill these employees through its centres of excellence.
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.
India is too big a market for Apple to ignore: Union minister Ravi Shankar Prasad
"We are in dialogue with Apple and once the nature of exchange is formalised, we shall come up with a structured response," Prasad told ET in an interview.
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.
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.
Cognizant relieving 6,000 Indians to hire in US? Techies up in arms
A bunch from the workforce in Chennai is preparing for conciliation proceedings with the state labour department in what they claim is a fight against retrenchment.
TCS Finland to sack 172 employees by August
TCS is planning to sack 172 employees at its Finland offices by August as part of the process to streamline its operations.
TCS may soon be world's second biggest tech employer
Besides the Indian army, govt departments like the Indian Railways and India Post, and PSU cos like CIL, there's perhaps no other co that has more employees.
TCS eyes $5 billion from digital vertical; hires over 1500 this fiscal
The hiring includes data scientists and professionals in domains like design visualisation, user experience and the 'Internet of Things'.
TCS eyes $5 billion from digital vertical; hires over 1500 this fiscal
The hiring includes data scientists and professionals in domains like design visualisation, user experience and the 'Internet of Things'.
Major US media outlet outsourcing IT jobs to India: Report
Chicago-based Tribune Publishing Company said it has informed its IT employees last month that it is moving work to India-based IT company Tata Consultancy Services (TCS).
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.
As a wave of disruption hits India, most domestic companies are running for cover
Most Indian firms stick to a business model and execute it repeatedly, although shoddily. Worse, they pay only lip service to corporate entrepreneurship.
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.
Satyamites fear of layoffs as Tech Mahindra takes over
As customers seek to lower IT spend, many Satyam employees fear that Tech Mahindra could look at rightsizing the company.
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.
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.
TCS official says rupee volatility is an issue
The volatility of the rupee is a matter of concern though the recent Rupee depreciation vis-a-vis the US dollar would benefit Tata Consultancy Services (TCS), its Chief Financial Officer, S Mahalingam, said.
Fifteen stocks in focus on Monday, 26 September 2016
The Indian market is expected to open flat-to-negative. Here is a list of top fifteen stocks that are likely to be in focus today.
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.
TCS to focus on offshoring, to move staff back to India
As part of cost-cutting measures, outsourcing firm Tata Consultancy Services said that it will relocate staff abroad into India.
Rupee volatility is a matter of concern: TCS
Re has exhibited weakness against the dollar over the last few days and closed at a low of 51.97. Where Re comes from, and goes | Forex Converter | Remittances
Infosys, TCS, Wipro, iGate, UST Global devise new ways to keep benched staff occupied
IT cos are now walking the extra mile to keep 'benched staff' engaged, even as they seek to balance P&L pressures and talent management compulsions.
TCS asks several employees in UK office to leave
TCS serves customers such as British Airways & BT in UK. The firm has around 4,800 staff working at almost 65 sites in UK and Ireland. Nine trends for IT in 2009
Persistent Systems bullish on growth; to hire 1,500 next fiscal
Mid-sized software products firm, Persistent Systems, is targeting to hire 1,500 people next fiscal as it sees a steady surge in demand from key markets.
Ten stocks in focus in Tuesday morning trade
Indian markets are expected to trade in a range. Here is a list of ten stocks which are likely to be in focus today.
TCS likely to lay off 1,300 staffers
TCS is likely to lay off less than a percent of its global workforce over the next few months.
TCS starts laying off under-performing employees
Lay-offs have already started happening at TCS' development centres in Chennai, where over 200 employees have been asked to leave.
TCS, Infosys & Wipro lead recruitment drive; mid-level companies too not far behind
Indian software companies are stepping up hiring in the United States –– both from colleges and experienced professionals.
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
Global woes hit Sensex, cracks over 800 points; top ten stocks in focus
The Nifty was at 8114.55 down 263.85 points. It touched a high of 8327.85 and a low of 8114.55 in trade today.
TCS likely to take a call on promotions for current fiscal
Tata Consultancy Services (TCS), which faces uncertainty from auto clients such as Chrysler and General Motors, will undertake a review at the end of the first quarter to decide whether to offer any promotions in the current financial year.
Its official: TCS sends staffers mail on deferred promotion, cost cutting
Some of the steps include re-training experienced professionals, offshore movement of people located onsite and deferment of promotions. Top Indian outsourcing cos
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.
Automation drive in IT industry: Middle managers face an uncertain future
Middle managers, who have forgotten coding, face an uncertain future, who account for 10-15% of the payroll at companies including TCS, Infy and Wipro.
Wipro Q3 results: Five things to watch out for
The one positive in the numbers could be the commentary of company winning large deals – for the last two quarters, Wipro has surprised many be winning large deals.
HCL Technologies Finland may sack 140 employees
The employees who face job threats are actually former Nokia staff who were transferred to HCL Technologies in March 2013.
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.
HCL Technologies to replace employees doing simple software testing with domain experienced staff
“People acquiring new skills in new technology areas are the future. So, there will be flattening of the pyramid,” he told ET in an interview last month.
IT firms likely to be on lower end of FY15 Nasscom guidance
NASSCOM, which represents the more than $120 billion IT-ITeS industry, expects the sector's exports to grow by 13-15 per cent in 2014-15.
Threat of job loss: IT executives re-skill themselves in newer technologies
Nasscom says the software industry, which employs over 3 million professionals, will see a 17% decline in annual hiring.
Can Cognizant write its success story with a robotic automation drive?
Francisco D’Souza said by implementing IPA technologies, Cognizant is driving savings and transforming core processes to help companies become digital enterprises.
18% growth in FY17 was an aberration, not the new normal: Aditya Puri, HDFC Bank
Today we believe that we are among the foremost technology banks globally.
US, Europe woes may take toll on BFSI-focussed Indian IT companies like Infosys, Wipro
Among the top Indian IT firms, Infy gets 36% of revenues from BFSI clients, and Wipro gets about a quarter of its revenues, are more vulnerable, some said.
US, Europe woes may take toll on banking, financial services and insurance-focussed Indian IT Companies
Infosys & other outsourcing providers indicating a near-term blip on imminent drop in business volumes, say analysts.
Credit woes: IT cos may cut 25K jobs
The banking, financial services and insurance (BFSI) segment is the largest outsourcing vertical for Indian technology players.
Why India is seeing a fresh wave of global innovation centres, and how it could be a lifesaver for IT firms
Here's why India is fast becoming the never centre of innovation centres, and how this could be the solution to our IT companies' woes.
IT industry hit by shortage of projects from Europe and US
The top players of the $100 billion IT industry have developed an unhealthy bench strength and the bulge is expected to grow from next quarter.
Cognizant bucks trend, to hand out good bonus
The IT major, which has most of its facilities in Chennai and Bangalore, is paying employees the full variable pay component this year. Cities that are IT hubs | Nine trends for IT
IT attrition rate dips to three-year low
This is partly because the number of new jobs being created has dropped, and partly because even when new jobs are available, companies are preferring freshers over experienced employees, who are more expensive.
Lehman collapse may put hiring in slow lane
MNCs in India in the BFSI and captive BPOs space may axe at least 5,000-8,000 people in the coming months. Retain your job | Pink slips back at IT companies
Patni hands pink slips to 400 'non-performers'
After TCS and IBM Global Services, Patni Computer Systems has laid off close to 400 employees citing non-performance issues. Making a comeback into worklife
IT cos ask recruitment agencies to stop hiring
Banking, financial services and insurance (BFSI) segment is the largest outsourcing vertical for tech cos in the country. Work before MBA? | Facts on foreign study loans
India Inc may give a mere 10 per cent salary increment in the new financial year
Employees across industries are preparing to receive an average salary increment of 10% in the new financial year, as companies battle falling demand and a weak global economy.
Wipro promotes, hikes salaries on a selective basis
Wipro, India's third largest software exporter, has lifted freeze on promotions & hikes on a selective basis. Satyam restores variable pay of 28,000 employees
Wipro offers pay hikes, promotions
In what could be the first signs of a turnaround in the IT sector, Wipro, India’s third-largest software exporter by sales, has lifted the freeze on promotions and hikes on a selective basis.
Satyam getting new contracts: Murty
Satyam Computer said it is continuously getting new software services orders and existing clients have showed faith in the company.
US insurer Cigna Corp puts Satyam on notice
US-based health insurer Cigna Corp, one of the biggest Satyam clients put the co on 3-month 'notice'. How board cleared Maytas deal | Staff count, deals under scanner
St crisis: Downsizing new talking point among techies
Top deck IT companies has already announced slackened hiring and layoffs could soon be the order of the day. Pink slips back at IT cos I How to retain your job
Fearing a pink slip? Start networking
Here are a few tips to help you prepare for the future and prevent a layoff from hitting you too hard.
Tech Inc blames education system for talent shortage
For every one person hired today by IT cos, there are about 14-16 people interviewed, as against one out of 2-3 candidates making the mark earlier.
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