GCC NET HEADCOUNT GROWTH
Numero uno: How GCCs raced to pole position in hiring stakes Global capability centres (GCCs) were the top hirers of tech talent in the first quarter of FY25, beating out IT services firms for the first time. This is in line with global companies setting up their innovation centres in India. Data shows that G...
13 Jul, 2024, 12.01 PM ISTWe are happy with Q1 results but not in a position to say TCS is on a growth path again: CEO TCS foresees FY25 outperforming FY24, leveraging AI and cost optimization despite market volatility, BFSI challenges, and election impacts. With Q1 achievements, reduced attrition, strategic headcount growth, and strong India business, performance r...
12 Jul, 2024, 01.28 PM ISTTCS shows early signs of project ramp ups but demand recovery may take more time In addition, while the country’s largest IT exporter continued to bag fresh orders, the quantum of total contract value (TCV) was underwhelming when compared with the previous quarter.
12 Jul, 2024, 07.01 AM IST- ADVERTISEMENT
Tata Elxsi posts 2.5% dip in Q1 profit, revenue rises 9% Tata Elxsi's Q1FY25 net profit declined 2.5% YoY to Rs 184.1 crore, impacted by weaker healthcare, life sciences, and media segments. Revenue rose 9% YoY to Rs 926.5 crore. Operating margins fell, Europe share rose to 42.2%. Headcount decreased by 2...
10 Jul, 2024, 08.40 PM ISTInfosys, Tech Mahindra among 6 IT stocks that could surprise positively in Q1 results: JM Financial Stating that Tech Mahindra remains a ‘buy' on turnaround hopes while KPIT Technologies and Tata Technologies are structural bets on auto ER&D theme, domestic brokerage firm JM Financial believes that Q1 results for the IT sector could positively sur...
01 Jul, 2024, 05.50 PM ISTImpact of GCC boom; Infosys staffers cling to WFH in FY24 Happy Thursday! The explosive growth in India's global capability centres (GCC) has benefited the real estate, staffing, and infra sectors. This and more in today’s ETtech Morning Dispatch.
20 Jun, 2024, 09.43 AM ISTGCC’s share in GDP to double by 2030 with a size of $100 billion The share of global capability centres (GCCs) in India’s GDP is expected to double to 2% by 2030, according to a note shared by ICICI Securities. These offshore units of multinational companies collectively generate about $46 billion in revenue, whi...
11 Jun, 2024, 06.00 AM ISTIndia's forex reserves at record $651 billion India's foreign exchange reserves reached a record $651.5 billion as of May 31, 2024, bolstered by robust services exports and strong remittances. RBI Governor Shaktikanta Das highlighted the resilience of India's external sector. The rise in global...
08 Jun, 2024, 09.38 AM ISTJPMorgan to grow India headcount by 5%-7% for next few years, senior exec says According to a senior executive, JPMorgan Chase intends to increase its workforce in India by 5%-7% annually over the coming years. This move comes as the Wall Street giant intensifies its focus on one of the most competitive talent markets worldwid...
30 May, 2024, 01.56 PM ISTMidcap IT companies buck the trend to add more employees Mid-sized IT firms showed workforce growth in fiscal 2024, contrasting major Indian IT firms' decline. Demand rose for tech services from domestic and global sectors. Automation may impact headcount. Mid-tier firms excel in engineering services with...
03 May, 2024, 06.00 AM ISTDP World picks up 1.5 lakh sq ft office space in Navi Mumbai to set up GCC DP World leases 150,000 sq ft office space in Navi Mumbai's Aurum Q Parc tower for its global capability centre. The deal involves 5% annual rental escalation, totaling Rs 65 crore. Key tenants include ICICI Bank, Mizuho Bank, Lloyds Register, and A...
30 Apr, 2024, 09.31 AM ISTBirlasoft’s net profit grew 11.8% to Rs 180 crore Birlasoft's Q4 saw a net profit of Rs 180 crore, 11.8% QoQ growth. Revenue stood at Rs 1,363 crore, up 1.5%. Operating margin ended at 14.7%. The firm recommended a dividend of Rs 4/share.
29 Apr, 2024, 11.06 PM ISTLTTS’ net profit grew 0.2% to Rs 341 crore The muted growth in profit comes on the back of the company seeing a marginal decline in its operating margin which fell from 17.2% in Q3 to 16.9% in Q4, a fall of 30 basis points (1.7%). A year ago, the company’s operating margin was at 17.9%.
25 Apr, 2024, 05.57 PM ISTTrend of IT services companies not hiring or reducing headcount will continue for now: Rituparna Chakraborty, TeamLease Rituparna Chakraborty discusses the evolving job market influenced by AI and automation, emphasizing the need for updated skill sets to align with technological advancements. The narrative explores the changing dynamics of the IT sector and the impo...
23 Apr, 2024, 01.11 PM ISTHeadcount down, It's not final countdown Infosys and TCS reported headcount declines in 2023-24 due to automation. Indian IT workers face challenges negotiating salaries with generative AI. Global tech job markets are impacted by AI, leading to a shift in causality for Indian companies.
19 Apr, 2024, 10.37 PM ISTIndia's top 3 IT companies see exit of 64,000 employees in FY23-24 India's IT services industry - a $254 billion powerhouse - has been feeling the heat of global macroeconomic uncertainties and geopolitical flareups as clients turned cautious with IT spends.
19 Apr, 2024, 09.43 PM ISTHiring by global capability centres in India slows amid western disturbances Mumbai's GCC hiring in India slowed down in FY24, impacted by global uncertainties. Despite high attrition and talent demand, centers took a cautious approach. Experts attributed the slump to a cautious approach by companies since 2023 amid multiple...
09 Apr, 2024, 05.30 AM ISTCampus hirings for entry-level IT jobs could even be 50% less this year: Ramani Dathi, Teamlease "Even for the new talent who are aspiring for jobs in the IT industry, upskilling is now the real need and they have to invest in terms of expanding their own skill set.Almost 60% to 70% of the positions that we used to hire a year back used to be i...
08 Apr, 2024, 12.38 PM ISTSops, tier-2 cities top focus in tech’s Karnataka GCC Policy wishlist Karnataka's GCC policy targets industry growth through infrastructure investment, employment incentives, single window approvals, fast issue resolution, industry-specific curriculum, flat rate markup, transportation solutions, digital engineering se...
29 Mar, 2024, 06.11 AM ISTGlobal captives buck the trend, likely to hire 30% more this year Fresher hiring by GCCs will mainly benefit premier institutes, experts said. This comes as the top Mumbai-listed IT services companies, otherwise among the leading absorbers of fresh engineering and management talent, have decided to skip the campus...
09 Nov, 2023, 06.00 AM IST