COGNIZANT HIRING
Strong ER&D demand helps IT buck overall soft hiring trend
India's $250 billion IT services industry is facing sluggish hiring, but a bright spot is emerging in Engineering, Research & Development (ER&D). Demand for ER&D services is surging, driving a 15% increase in recruitment for these roles. Staffing firms report that tech companies are ramping up ER&D hiring to stay competitive in the global market.
Microsoft's AI Copilot to add new features next month
Irina Ghose, managing director, Microsoft India & South Asia said the company is set to release new features to its artificial intelligence (AI) assistant Copilot next month to improve user prompts which would consequently generate better responses by the chatbot.
Microsoft's AI Copilot to add new features next month
“We are announcing a few new features on Microsoft 365 Copilot,” said Irina Ghose, Managing Director, Microsoft India & South Asia. “One is called Auto-complete, where you might start with the prompt, but you're not very clear how to complete it. It just goes and completes it for you.”
IT companies Cognizant, Capgemini hired 1.5 lakh less hands in 2023
Global hiring decline in 2023 impacted major IT companies like Cognizant and Capgemini. Indian IT firms also faced headcount reductions. Everest Group attributed layoffs to Covid over-hiring, while Gen AI influenced hiring decisions.
Tech firms TCS, Accenture, Cognizant lead LinkedIn's top large companies list
LinkedIn's 2024 Top Companies list in India features Tata Consultancy Services, Accenture, Cognizant, and others. Insights include in-demand skills like investor relations, capital markets, and job opportunities in diverse industries across locations like Bengaluru and Hyderabad.
White collar gig jobs on the rise, show Foundit’s hiring insights
March 2024 showed 4% drop in hiring from 2023. Education, telecom, energy sectors grew; automotive, shipping faced challenges. Senior management hiring increased by 6%. White collar gig roles surged 184%.
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IT hiring shows signs of life; companies stay cautious
IT sector consultants said that the conversation for FY25 is still heavily focused on more dilution of the bench, increasing automation, improving efficiency and targeted hiring mostly in niche areas such as AI and GenAI amid continued macroeconomic uncertainty and hardly any signals of demand recovery yet.
Cognizant, Nvidia tap generative AI to boost drug discoveries
Cognizant said it aims to give clients access to a suite of model-making services, including pretrained models, cutting-edge frameworks, and APIs, that offers clients the quickest path to train and customize enterprise models using their proprietary data.
IT companies' hiring offers slight respite to engineering colleges
IT companies like Infosys, Wipro, TCS are vital for engineering colleges as they tend to make large hirings, ranging from a few hundreds to thousands, usually in September.
Headcount at IT biggies falls for four quarters as hiring takes a backseat
The collective headcount of the top eight IT companies fell 17,534 in the quarter ended December 31 compared with the previous three months, according to data compiled by Xpheno, a specialist staffing firm. Compared with a year earlier, the staff count at these companies - Tata Consultancy Services, Infosys, Wipro, HCLTech, LTI Mindtree, L&T Technology Services, Tech Mahindra and Cognizant's India business - were down by 75,000, the sharpest fall in at least six years.
IT campus hiring tumbles to two-decade low
Indian software services companies will end FY24 having hired between 70,000 and 80,000 fresh engineers —the lowest intake in over two decades. The decline in fresher hiring marks a significant climbdown for a sector that was once regarded as the uber force on college campuses.
Chryscapital-backed Xoriant hires LTIMindtree's Mukund Rao to lead global markets
Based in the US, Rao was the chief business officer of the banking, financial services and insurance (BFSI) vertical at LTIMindtree (with Mindtree before the merger with L&T Infotech) for over four years. Prior to LTIMindtree, Rao worked for seven years at global rival Cognizant leaving as vice president & managing partner in November 2019.
Top four IT firms report 50,000 fall in headcount over last year
Over the year, the headcount at India’s largest software services firm, TCS, dropped by 10,669. Infosys reported a 24,182 reduction, while Wipro posted a 18,510 fall. At HCLTech, the number increased by 2,486
TCS, Infosys rolls dip 35,000 in subdued Q3
Headcount at TCS, the market leader, dropped 10,669 and that at Infosys by 24,182.
Poaching Row: Nasscom chairperson says no impact on industry
Amid employee poaching allegations levelled by two domestic IT firms, Nasscom Chairperson Rajesh Nambiar said the issue has not impacted the industry's business and operations.
Cognizant gets its mojo back under new CEO’s watch
Experts say ‘people's person’ Ravi Kumar wins back competitiveness on large deals. He is also getting major talent back to Cognizant, and has rationalised the company with real estate as well as headcount consolidation.
IT freshers beware! Non-compete clauses woven into contracts are unenforceable in India, experts say
Indian IT companies are using non-compete clauses in their contracts to deter new hires, but legal experts argue that this tactic is not enforceable in India. Non-compete agreements, ranging from six to twelve months, are a standard feature of contracts from major Indian IT companies like TCS, Infosys, Wipro, HCLTech, and Tech Mahindra.
Wipro's case against former CFO Jatin Dalal referred to arbitration
On January 3, Wipro and Dalal were directed to resolve the case under section 8 of the Arbitration Conciliation Act, 1996. The official order will be uploaded in the next week.
IT executive exodus: a primer on breach of contract, lawsuits
IT major Wipro has filed at least two legal complaints against its former senior executives including former senior vice president Mohd Haque and ex CFO Jatin Dalal for breach of his employment contract with Wipro. What does this mean?
Explainer: A primer on breach of contract, lawsuits
Wipro and Infosys are pursuing legal action against former executives joining Cognizant, raising questions on non-compete clauses' validity in India. While Wipro sued ex-SVP Mohd Haque and CFO Jatin Dalal, Infosys accused Cognizant of unethical hiring. Experts note the challenges enforcing non-compete clauses due to constitutional rights. Past cases lack significant precedents. The desperation to retain talent amid a sluggish market and geopolitical uncertainties might be driving these legal battles among IT giants.
Wipro seeks Rs 25 crore damages from ex-CFO Jatin Dalal for breach of non-compete rule
As part of the non-compete agreement, one of the clauses bars Dalal from joining any other rival company for a period of 12 months from the date of his resignation.
Cognizant unveils Shakti to boost women leadership in technology
The IT services company has partnered with industry body Nasscom to establish and prioritise best practices with a shared goal of making diversity and inclusion (D&I) a key differentiator of India's tech sector.
IT firms continue to take leaders on board to steer boat amid headwinds
In the 12 months through September 2023, there have been as many as 5,700 senior executive movements (chief executives and 2 levels below) in the software exports and enterprise technology space, compared with 5,500 the same period a year earlier, as per data gathered by ET.
Infosys loses another veteran to rival company
Ranjan, who was the executive vice president (EVP) and service offering head for manufacturing in India and Japan business units, left Infosys to join US-based engineering firm Ness Digital Engineering as its chief operating officer (COO).
Engineering students brace for a tough placement season amid tech downturn
The Class of 2024 at tier-2 and -3 engineering colleges in India are facing a challenging year for campus hiring. IT/ITeS companies, which typically recruit a significant number of students, have either stayed away or delayed their hiring plans. Placement officials at various colleges have reported a drop in offers from these companies, with expectations of further declines.
Flood of freshers at IT’s Big Four; Byju’s raises $250M, eyes $500M more
As of the second quarter, IT companies have not indicated any major change in their fresher intake plans for the year except TCS, which has upgraded its fresher hiring guidance from 40,000 to 47,000.
Cognizant rolls second hike as a part of 'two-merit cycles' announced last year
Combined with the merit increases eligible directors and above received in January, Cognizant is awarding more than 300,000 associates a merit increase this year, according to an internal mail.
Wary IT companies may halve hiring of engineers from April: Experts
Staffing firm TeamLease expects a 40% drop in FY24 headcount addition vis a vis FY23 addition, based on the current outlook from companies.
IT talent shortage, e-hiring lead to surge in fake CVs
Candidates shown the door after companies detect fraudulent documents in background checks.
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