WIPRO JOBS
IT union seeks probe on DXC Technology's 4,800 campus onboarding delays
Data from the IT employee union NITES showed that India’s leading IT firms including Tata Consultancy Services (TCS), Infosys, Wipro and LTIMindtree have delayed joining dates of than 10,000 freshers. Harpreet Singh Saluja, president at NITES said these young professionals well-being and careers are at risk, we have asked the ministry to act as soon as possible.
What's stopping TCS from filling 80,000 open positions?
TCS is facing a challenge with 80,000 open positions due to a skills gap. Amar Shetye, global operations head of TCS's RMG, highlighted the mismatch between employee skills and required roles.
After cutting onsite jobs IT companies start rebuilding headcount through acquisitions
Indian IT companies are expanding revenue streams and payrolls through acquisitions of smaller firms and engineering services, despite on-year shrinkage in headcount after quarterly earnings.
Trouble for techies: Wipro, Infosys and other IT cos delay onboarding of 10,000 freshers, refuse to provide joining date
Tech giants are experiencing a significant decrease in hiring, with companies like Infosys and Wipro postponing the onboarding of new recruits, leaving them uncertain about their joining dates, according to a report by ToI. India's prominent IT firms have deferred the onboarding of around 10,000 freshers who received job offers in the past two years, as revealed by data from the IT employee union Nascent Information Technology Employees Senate (NITES).
Sanjiv Bhasin on three IT stocks that may outperform in near term
It would be HCL Tech, Wipro and Mphasis. We participated in this sell-off in Mphasis because of Blackstone reducing its stake. We think Mphasis is one of the best poised companies in IT. By the way, a month back I had recommended Coforge when it went to 4400, 4500, 4600 just because they are raising their QIP.
Tech stocks tumble, dragging Sensex 203 pts lower, Nifty below 23,300 on US rate fears
The Sensex hit a day's high of 77,079, while the Nifty 50 touched 23,411.9 in early trade on Monday on the back of a Modi-fuelled state firm rally, but the IT stocks dampened the buoyant market mood. The IT index fell 1.83%, making it the top sectoral loser. Tech Mahindra, Infosys, Wipro, TCS, and HCLTech declined by 1%-3%, becoming the top losers on the Sensex. The market capitalisation of all listed companies on the BSE surged by Rs 1.59 lakh crore to reach Rs 425.08 lakh crore.
- Go To Page 1
IT companies go startups way, appoint chief growth officers
Facing a cautious market and clients tightening their purse strings, IT companies are adopting a strategy from startups and web commerce: creating a new C-suite role – the chief growth officer (CGO).
IT CEOs' salary in FY24; Wipro offers 85% variable pay
Happy Wednesday! Top bosses at some of the country’s leading IT firms took home enhanced salary packages last fiscal. More on this on today’s ETtech Morning Dispatch.
India’s five big IT firms see net exit of 25,000 women in FY24
The data analysis by staffing firm Xpheno revealed that five of India's top IT services companies - Infosys, TCS, Wipro, LTI Mindtree, and HCL Tech - have seen a collective net exit of 25,000 women in the year ending March. Despite an increase in the total number of women employed by these firms from 374,000 in March 2020 to 540,000 in March 2023, the diversity ratio has only seen a marginal growth of 0.9 percentage points during this period.
Wipro’s Rishad Premji takes pay cut, ex CEO Delaporte takes home $20 mn
Wipro executive chairman Rishad Premji declined variable pay for the second consecutive year due to negative profit growth. He took a 20% pay cut, earning $769,456 in FY24. Former CEO Thierry Delaporte became the highest-paid IT sector CEO with $20.11 million in compensation for FY24, including a $11 million separation payment upon resignation.
Cards vs UPI; Byju’s advisory council dissolved
Happy Monday! UPI's ease of use is driving a shift to cashless payments, leaving debit cards behind. This and more in today’s ETtech Morning Dispatch.
India Inc hunts for new cyber warriors
Corporate India is actively seeking cybersecurity professionals amidst rising concerns over data breaches, evolving regulatory requirements, and the emergence of advanced artificial intelligence platforms. To address vulnerabilities in security controls and processes, companies are bolstering their cybersecurity teams across various domains.
Top IT companies cut over 72,000 jobs in FY24
The top six information technology services companies in India reported a reduction in their total headcount in the last fiscal year, with only HCLTech adding employees. Factors contributing to this reduction include the economic slowdown, automation, restructuring, and decreased discretionary spending. The drop in headcount reflects the aftermath of excessive hiring during the Covid boom and ongoing industry contraction in demand. However, experts believe that this trend may have bottomed out, and companies could resume hiring, given the strong deal wins announced by most of them, which could push a gradual pickup in growth.
Non-compete clauses: Unenforceable under law, but companies love them
While Indian law is clear on the unenforceability of a non-compete clause operating beyond the term of employment, companies still include it in contracts, particularly for senior executives, as it’s seen as a soft deterrent, said Jay Parikh, partner at Luthra and Luthra Law Offices. Employees would rather comply than bear litigation costs and carry the burden of being sued by their previous employer.
Tech companies plug into India's smaller cities for talent
The trend of Indian IT companies relocating to smaller cities is gaining momentum, driven by factors such as cost efficiency, government incentives, and the availability of talent. Workers like B. Ramachandran are choosing to live in places like Madurai over major tech hubs like Bengaluru and Chennai, citing reasons such as familial ties and lower living costs.
With $11 million exit pay, Delaporte joins other CEOs in costly exits
An analysis of employment contracts of top IT leaders shows that in recent years, payments to exiting CEOs at companies such as Tata Consultancy Services (TCS), Cognizant and Wipro have ranged from Rs 48 crore to Rs 92 crore.
Tech jobs dwindle with India's top IT firms cutting workforce by 64,000
With Infosys predicting a meagre 1% to 3% annual revenue growth and Wipro predicting a likely 1.5% revenue decline in the June quarter with a remote probability of a 0.5% increase, the picture for the current fiscal year is similarly dismal. For recent engineering graduates looking for work in the field, these developments are concerning.
Companies need to hire more women at entry level, retain them through their tougher years: Wipro CFO Aparna Iyer
"The percentage of women (in leadership) in organisations is fewer, but it is representative of the fact that the overall percentage of women in the workforce is low. It is crucial that companies have more women at the entry level and then they are able to nurture and retain them through the tougher years."
Indian IT giants ride US jobs boom, hire more and more techies
US tech hiring surge boosts Indian IT firms like TCS, Infosys, HCL. Job openings in tech positions increase, with cities like New York, Washington, Dallas showing high demand. CompTIA forecasts further growth in the tech workforce.
Wipro's new hiker CEO Srinivas Pallia has a mountain to scale
Srinivas Pallia became the CEO of Wipro after Thierry Delaporte quit in a surprise move. Pallia said his immediate focus will be on supporting clients and stressed on "embracing bold ideas" and taking "calculated risks".
Job openings: Entry-level tech hiring takes a hit; campus placements may fall over 50% this year
Over the previous few years, India's IT job market has seen a gradual fall in entry-level positions; this year, a further decline is projected, along with fewer hirings from colleges. Although there have been modest increases in hiring activity, the true momentum could not show up until the second half of the year.
Align angles to work by degree
Due to flexibility introduced in the National Higher Education Qualification Framework (NHEQF), an offshoot of the National Credit Framework announced by UGC, learners can now choose courses and acquire credits in different skill domains to enhance their employability.
Breather for colleges as IT companies ready offers for class of 2024
Top software services exporters like TCS, HCLTech, and Accenture are providing a reprieve to engineering colleges by giving job offers to graduates from the Class of 2024. VIT Vellore has received over 900 offers from TCS, raising hopes at other campuses.
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.
India's LTIMindtree grooms two insiders for CEO job, sources say
The succession plan unfolds amid a broader churn in the C-suites of the $245-billion Indian IT industry that is grappling with weak client demand in the face of inflationary pressures and global macroeconomic uncertainty.
PLI a pivotal force that's reshaping Mfg landscape
The PLI scheme has propelled the growth of the toy and defence sectors, leading to increased exports. It has also supported green technologies like e-vehicles and solar panels, exceeding India's targets on renewable energy. The scheme plays a pivotal role in reshaping India's manufacturing landscape.
RBI bars Paytm’s services; Wipro to cut hundreds of jobs
In a big blow for the Vijay Shekhar Sharma founded fintech, the Reserve Bank of India has barred Paytm Payments Bank from offering all banking services after February 29. This and more in today’s ETtech Top 5.
Exclusive: Wipro to lay off hundreds of mid-level employees to improve margins
Wipro is cutting mid-level roles to improve margins. It bought Capco for $1.45 billion, Delaporte's biggest bet. Job cuts are part of the 'Left-Shift' strategy. Wipro underperforms and faces conflicting goals.
Wipro’s headcount drops by about 4,500, HCLTech’s adds 3,617 employees in Q3 FY24
Wipro's staff strength for the quarter ended December was 240,234 as against 244,707 in the previous quarter. HCLTech’s staff strength for the quarter ended December was 224,756 as against 221,139 in the quarter ended September 2023.
Load More
