IT companies News

Within the services sector, profit growth moderated to 15.9% in 2024–25 for non-IT services companies, while it inched up to 6.1% for IT companies.

Companies that establish a strong AI strategy, demonstrate early success through case studies and productivity improvements, and foster a culture of innovation are expected to emerge as long-term winners. 

IT services companies are navigating a challenging landscape due to ongoing macroeconomic concerns in key markets such as the US and Europe. 

NITES has demanded that the management reconsider its decision and engage in meaningful dialogue with the union to find a mutually beneficial solution.

"Sustained client relevance, best-in-class execution quality, and a deep commitment to purpose are differentiators for brand Infosys, strengthening its position among the industry's preferred partners for navigating digital transformation," Infosys CEO Salil Parekh said in a formal statement.

Freshers got offer letters from different IT companies but now the companies are not onboarding them. Continue reading to know more about this.

Karnataka BJP leader N.R. Ramesh on Thursday held IT companies responsible for the floods and crisis situation in Bengaluru Amid this, IT companies had submitted warnings through organizations that they would shift to Telangana Ramesh maintained that they won`t be able to operate in the state of Telangana which is Naxal-prone

Over the previous quarters, a lot of IT companies struggled with attrition rates. Many IT firms have announced initiatives to address the issue. Wipro announced employees will receive a pay raise.

Over 24,000 of these complaints involved copyright infringement. The tech giant removed 62,673 pieces of content that broke community guidelines in response to user complaints.

Noida unit of the US-based IT giant Synopsys briefly called its employees to the offices before resuming work from home. Paytm recently permitted its staff to continue working from home. TCS has also announced the establishment of occasional operating zones (OOZs) and hot desks.

Tech companies are facing multiple issues like rising inflation, recession fear, Russia-Ukraine war. Meta (formerly Facebook) and Twitter have publicly announced hiring freezes. Snapchat's parent firm Snap is slowing hiring as it misses revenue targets.

TCS is following a ’25X25 model’. It is also setting up occasional operating zones. HCL is another company that is also shifting to a hybrid model.

The govt has removed registration requirements to carry out work beyond traditional office complexes. The industry has been requesting for these relaxations which are currently temporary to be made permanent. The relaxation was provided by the department of telecom.

The time period for work from home was expiring on July 31. The facility has been extended due to the ongoing concern due to COVID-19 Earlier, companies were not allowed to connect office Virtual Private Network to home infrastructure.

The government could also provide tax advantage for companies at initial stages, which could act as an incentive for young entrepreneurs to get more work, he said.

US-based IT firm Cognizant has delayed salary hikes and promotions for employees till October amid an uncertain business environment.

Indian companies could lose Rs 11 crore to data breaches this year, up 12.3 percent from last year, a report by tech giant IBM today said.

The opportunities for new recruitment and promotions have shrunk in India's IT industry, a phenomenon natural when growth slows down, says an industry expert, who sees no merit in reports about massive layoffs.

IT services major Infosys on Friday said it will hire 20,000 people this year as against only 400 people being asked to leave on performance grounds and termed reports of large-scale job losses as "overstated".