Information Tech (IT)
After a lull, industrial metaverse adoption picking up across industries: Experts
Industry executives and experts said the industrial metaverse--which refers to the digital world that mirrors the physical world, leveraging the technologies--has found the right price points to generate good returns on investment (RoI) with supporting technologies scaling up. “Industrial metaverse has gone through its waves,” said Sreenivasa Chakravarti, vice president, IOT and digital engineering, TCS.
Labour Ministry directs Karnataka to investigate delay in fresher onboarding at Infosys
The Ministry of Labour has directed the Karnataka State Labour Commissioner to address a complaint by IT union NITES regarding Infosys' delayed onboarding of over 2,000 candidates. Infosys has begun sending joining dates to impacted graduates, with plans to onboard all by December due to increased demand and revised revenue guidance.
R&D in services firms different from that in product firms: Infosys cofounder Kris Gopalakrishnan
In the services industry, the R&D focus is on tools, techniques, technology, and the business model. “For products, it is very different -- you invest in abstract, you take huge risk, you don't have any product, you're supposed to succeed, and there's a marketing process which is significantly higher.”
Margin focus pushes Indian IT firms away from subcontractors
In FY24, subcontracting costs hit their lowest levels in years: TCS at 6.20% of its revenue (the lowest since FY16), Infosys at 7.70% (lowest since FY21), Wipro at 11.50% (lowest since FY16), and Tech Mahindra at 12.60% (lowest since FY19), according to company data.
Infosys mails more appointment letters to engineering grads waiting to onboard
People close to the development said that Infosys is seeing a better demand environment and the appointment letters will be sent gradually to everyone who is waiting to onboard by December of this year.
Infosys sends joining dates to freshers of April 2022 after delays
The move comes days after ET reported that about 1,500 students from the April 2022 batch having offer letters seeking clarity on the job prospects after appearing for two rounds of pre-training in July and August. Since April 2022, around 2,000 engineering graduates of that year’s batch were delayed onboarding after receiving offer letters from Infosys to join for system engineers (SE) and digital SE roles at Rs 3.2-3.7 lakh annual packages.
France's Atos cuts financial targets but says restructuring still on track
Atos - once seen as one of Europe's champions in the software and technology sector - has been teetering on the brink of financial collapse in recent months. However, it secured a crucial restructuring deal with banks and bondholders in June. The company's leverage ratio is also now expected to come below a multiple of 2.0 during 2027, later than a previous end-2026 deadline, and Atos also lowered its 2027 revenue and operating margin targets.
HCLTech, Wipro see discretionary spends uptick in BFSI sector
In a pleasant surprise for the industry, two of the top four Indian IT companies, HCLTech and Wipro, are ramping up discretionary spends in the banking, financial services, and insurance (BFSI) segment. Experts, anticipating a rate cut in September, are hoping the revival of discretionary spending will be widespread in the next two quarters.
Students seek clarity as Infosys offers two pre-training rounds
Infosys' recruitment challenges reflect a wider talent acquisition crunch in the tech industry, driven by economic uncertainty and automation. Indian IT companies face mounting pressure from students, public backlash, and worker unions to address delayed onboarding processes.
Wipro appoints Srikumar Rao as global head of engineering business line
Srikumar has been with Wipro for 26 years and will report to chief executive Srini Pallia in his new role. Before this, he was the chief operating officer (COO) of Wipro engineering edge (WEE) and global practice head of embedded systems.
