IT
ER&D services companies face headwinds, growth slowest in four fiscal years
A large part of the dent is because of the increasing costs, competition and regulatory changes reducing client spends impacting the automotive manufacturing sector in key European regions, industry experts say.
Infosys layoffs: IT employee union logs complaint with government
The Nascent Information Technology Employees Senate called the mass termination “illegal and unethical,” accusing Infosys of "disregarding" established labour laws by not following due process before terminating the trainees and employing coercive tactics that infringe on their fundamental rights.
Infosys layoffs, pay hikes, and expansion: Key updates
While the country’s second-largest IT services company is facing criticism for laying off 700 staff onboarded in October, it has countered the charge by saying under 350 have been laid off. Moreover, it has pointed out that the service contract of these system engineers (SEs) and digital SEs specifically mentions that the company would let go of those recruits who are unable to clear the internal assessment.
Infosys fires hordes of trainees, says they failed to clear internal assessment
IT employee body says 700 affected, will approach labour ministry; company says only 350 terminated, separation not forceful.
Infosys lays off around 700 Mysuru campus recruits
Around 400 employees were called in batches and given an ultimatum letter after they failed to meet the minimum requirement across three attempts in a qualifying test, the syllabus and criteria of which were changed later, multiple employees confirmed the developments to ET.
Sonata Software profit dips 1.4% QoQ on top client ramp-down
IT services company Sonata Software reported a 31% quarter-on-quarter (QoQ) revenue increase, rising from Rs 2,169.8 crore in the previous quarter. However, profit fell by 1.4% from Rs 106.5 crore in the preceding quarter (ending September 2024), due to a 3% margin erosion caused by the ramp-down of its top client’s deal during the quarter.
TCS rolls out quarterly variable pay, senior employees get lower outlay
An employee mentioned that employees in business units with strong performance have been granted 100% of their variable pay, while those in sectors or verticals that reported poor growth have received lower payouts.
Cognizant profit dips 2.1% on year, revenue up 6.8%
Nasdaq-listed IT company Cognizant raised its annual guidance projected in the range $20.3-20.8 billion, rising 3.5% to 6.0% YoY in constant currency (cc) terms. Guidance for Q1 in the $5.0-5.1 billion range. This translates into a growth up by 6.5% to 8.0% YoY in cc terms.
Infosys to roll out annual hike letters before end of March
“Those falling at and below job level five (JL5) will receive hikes with effect from January 1 and those at job level six (JL6) and above will get the revised pay from April 1,” chief human resources officer Shaji Mathew told employees in a townhall at the Infosys campus in Bengaluru, the people said.
