There was a time when the Infosys’s quarterly results set the tone for the $150 billion Indian IT service sector’s performance. The bellwether’s numbers influenced not just its own shares but even the benchmark IT indices on Indian bourses. But on Oct. 24, when the country’s second-largest IT company posted its financial results for July-September 2017 (Q2), the spotlight wasn’t on its net profit or revenue. Instead, it was mostly on the tussle between founder NR Narayana Murthy and the newly-appointed leadership.
Ahead of Infosys’ second-quarter earnings announcement, analysts expect the outcome of the board meeting to reflect on long-term stability in the business along with short-term confidence-building measures like a date for share buyback and employees’ salary hike.
Uber has got a new chief in Dara Khosrowshahi, the former Chief Executive Officer of travel company, Expedia. From the very public and controversy-ridden Travis Kalanick, founder and former CEO to the relatively less known Khosrowshahi, Uber is purring itself to a new lane. At least that’s what the choice of the CEO points out to.
As Abidali Neemuchwala completes six quarters as the chief executive of India’s third largest IT services firm, he seems to have figured out a way to break the jinx of sluggish growth that the company has seen for years.
Top talent, domestic or global, will be wary of joining Infosys after all that has transpired
A replacement for Vishal Sikka, the first non-founder to become the CEO and MD of Infosys, must be an internal candidate who has risen up the ranks and is favoured by co-founder N.R. Narayana Murthy, industry analysts said.
Infosys’s former Chief Executive Officer (CEO) and Managing Director (MD) Vishal Sikka’s resignation has created more rumbles than the constant complaints and intermittent spurts of annoyance that co-founder NR Narayana Murthy has been conveying through interviews in the media.
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IBM, once the top multinational employer of choice is at risk of falling off that pedestal.
Workplace dynamics are changing rapidly and organisations are keen to modernise their approach to both, the workplace and the workforce. We at Greyhound Knowledge Group are of the firm belief that the confluence of powerful devices, modern applications and intelligent networks have replaced the Knowledge Worker with the Connected Worker. This in turn is fuelling the Gig Economy. Per our estimates at Greyhound Knowledge Group, nearly 30% of the workforce across the globe will in some form or shape participate in the gig economy by 2020.
IT services industry is staring at jobless growth because its top employers are focusing on automation to improve productivity and deliver services while they battle shifts in technology to remain profitable.
Travis Kalanick and Uber have been in the news for the wrong reasons. The latest is that the 40 year-old Founder and CEO may be forced to go on leave temporarily or his role as a CEO may be curtailed.
With fears of massive layoffs in the IT sector heightening, the professionals in major companies are in a mad scramble to find out avenues that would give them employment. Would startups — termed job creators — be able to take back some of the available talent in the IT sector?
How safe is the average Indian techie’s job? Between Donald Trump’s “Make America Great Again” push at one end and artificial intelligence-driven automation on the other, India’s most sought-after career for two decades is suddenly losing its appeal.
Infosys, Tech Mahindra and Wipro, which went on hiring frenzies when times were good, are today in the process of laying off thousands of their workers across various locations and experience levels. Industry watchers believe that more layoffs are inevitable.
Jasper Infotech Pvt. Ltd, which runs online marketplace Snapdeal, is reportedly giving out pay hikes of up to 15% to its employees even as talks of its merger with India’s biggest e-commerce company Flipkart are fast progressing.
The e-commerce industry in India has received another blow. On Wednesday, India’s third biggest e-commerce firm Snapdeal announced that it will be laying off employees. Though the company refrained from giving out exact numbers of people to be given the pink slip, industry insiders expect it to be in the range of 400 to 600.
Indians are way behind the USA, when it comes to severance package doled out to the CXOs. Compared to 3-5% Indians getting the severance pay as a safeguard clause in their contracts, it’s almost 60-70% in the USA. The scenario came to light when the exit of Infosys CFO Rajiv Bansal happened. It has been reported that the departing Infosys CFO was gifted the “so-called golden parachutes”.
Departing Infosys CFO Rajiv Bansal’s hefty severance package was one of the central issues in the row that broke out between the company’s founders and its board, but East is far behind the West in offering so-called golden parachutes to CXOs. However, the concept is said to be fast catching on as companies increasingly hire executives from overseas.
A starting salary of Rs 1.25 crore per annum to a Delhi student matches the average pay package of American software engineers but is still 40-50% more that what Indian techies working in the US earn.
देशके सबसे बड़े उद्योग घराने टाटा समूह के बाद अब देश की दूसरी सबसे बड़ी आईटी कंपनी इन्फोसिस में प्रमोटर और बोर्ड के बीच मतभेद सामने रहे हैं। प्रमोटरों ने एमडी और सीईओ विशाल सिक्का के सैलरी पैकेज के साथ उनके कुछ फैसलों पर सवाल उठाए हैं। इनमें दो पूर्व एक्जीक्यूटिव्स को कंपनी छोड़ते वक्त भारी-भरकम पैसे देना (सेवरेंस पैकेज) भी शामिल है।
Over the last 24 hours, the Indian IT Industry and media have been abuzz with supposed corporate governance issues at Infosys. The founders have lashed out at Vishal Sikka, CEO and the board via a letter that highlights possible corporate governance issues under the new management. While no facts have been presented until now, additional news material was floated this morning with some strong commentary from none other than NR Narayana Murthy himself.
Donald Trump’s efforts to limit the number of temporary workers in the US will dent India’s software industry.
Top-level exits continue at Snapdeal, India’s third largest e-commerce company, as Tony Navin, head of partnerships and strategic investments, decided to move on after a seven-year stint. Navin’s exit comes in quick succession of two other bigwigs — Abhishek Kumar and Sandeep Komaravelly — exiting the company.
Over the last 24 hours, the Indian IT Industry and media have been abuzz with supposed corporate governance issues at Infosys. Founders have lashed out at Vishal Sikka and the board via a letter that highlights possible corporate governance issues under the new management. While no facts have been presented until now, additional news material was floated this morning with some strong commentary from none other than NR Narayana Murthy himself.
The letter sent by founders to Infosys board raising governance concerns has given rise to nagging suspicion that remote controlling of a company by former promoters may be an emerging trend in Indian corporates that are restructuring and reinventing themselves to come to terms with the new business realities.
India’s famed multi-billion dollar information technology (IT) industry has been facing challenging times over the past 6-12 months with top-notch IT companies already facing earnings pressures in recent quarters due to tough business environment prevailing in their most lucrative US and European markets.
IT major Infosys today defended pay hike to chief executive Vishal Sikka and the severance package of two former senior executives saying all decisions were made “in the overall interest of the company”, amid reports of simmering differences between the CEO and its founders.
On December 31, 2016, Infosys announced a sudden exit of its General Counsel and Chief Compliance Officer, David Kennedy. While no reasons have been cited by the company, per the terms of exit, Kennedy will receive aggregate severance payments of US$ 868,250 along with reimbursements for COBRA (insurance) continuation coverage over a period of 12 months.
IT major Infosys’ Rs. 5.9 crore ($868,250) severance pay offer to outgoing General Counsel David D Kennedy is a move to play safe with Donald Trump administration in the US, say experts.
As 2016 winds down and we enter holiday mode, it’s time to start thinking of the 2017 work year. Here’s why you need to use your down time to put plans into place to upskill your employees and stay ahead of the pack.
Ravi Bhaskaran, Twitter’s Platform Partnerships Head, South Asia, quit his position on Wednesday.