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Infosys Will Hire 20,000 People, Fired Only 400 People This Year

2Jun By AdityaNo Comments

News

Infosys Will Hire 20,000 People, Fired Only 400 People This Year

IT services major Infosys today 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". Infosys COO UB Pravin Rao said the technology-driven transformation presents new opportunities for companies like Infosys. "With respect to all the talks of layoffs, it's regular performance based things that we do every year. The number is really 300-400, which is consistent with what we have seen every year," Rao told reporters after a 30-minute meeting with IT Minister Ravi Shankar Prasad. He said the country's second largest software exporter is "creating more jobs, adding more people and letting go of only minuscule number of people, purely from performance related perspec...

15May By PriyankaNo Comments

News

Indian IT Firm Tech Mahindra Entered Into Top-20 Global Tech Brands

IT firm Tech Mahindra today said it has entered into the Top-20 global tech services brands list (by brand value) in 2017,as per an independent assessment by a valuation and strategy consultancy, Brand Finance. It also said the company has potential to be in the top-5 technology services brands by 2020. Tech Mahindra has been ranked at No 14, with an impressive growth of 21 per cent over the previous fiscal, a joint release by Tech Mahindra and Brand Finance said. "Tech Mahindra has delivered excellent brand value growth of 21 per cent. Its brand transformation journey from being an Information Technology player to a Digital Transformation partner has shown great progress," Brand Finance Founder and CEO David Haigh said. "With its new brand promise of Connected World,Connected ...

Cisco to Acquire Indian Origin CEO Led Startup For $610 Million

4May By AnkitaNo Comments

ACQUISITION

Cisco to Acquire Indian Origin CEO Led Startup For $610 Million

American technology giant Cisco has said it will pay USD 610 million in cash to acquire a networking start-up led by an Indian-origin software industry veteran. Cisco will buy Viptela, a privately held software-defined wide area network (SD-WAN) company based in San Jose, a move that will expand its portfolio. Viptela CEO Praveen Akkiraju, a University of Madras and Harvard Business School alumnus said, "the companys fabric, as it relates to SD-WAN and cloud networking, fits in as an important piece of Ciscos Enterprise Networking strategy which is driving an industry-wide transition to a software centric architecture and business model." Viptela was founded by 2012 by former Cisco engineers, some of them hailing from the Indian sub-continent. Cisco will buy Viptela for USD 610 mil...

HCL Tech Acquire US Based Urban Fulfillment Services

25Apr By PriyankaNo Comments

ACQUISITION

HCL Tech Acquire US Based Urban Fulfillment Services

India's fourth largest software services firm HCL Technologies today said it will acquire US- based Urban Fulfillment Services (UFS) for up to USD 30 million (over Rs 193 crore) in cash. UFS is a provider of mortgage business process and fulfilment services. Founded in 2002, the company has over 350 highly skilled professionals. It has three centres in the US. The total cash consideration for this transaction is up to USD 30 million, including contingent payments subject to certain financial milestones, HCL said in a regulatory filing. The deal is expected to be completed by June this year, subject to certain closing conditions including transfer of licences and approval of the customers, it added. Mortgage servicing is a regulated activity in the US and the transaction would r...

Samsung to Update Software Over ‘Red Screen’ Problem in S8 Smartphones

24Apr By PriyankaNo Comments

Tech

Samsung to Update Software Over ‘Red Screen’ Problem in S8 Smartphones

Electronics giant Samsung will this week offer an unusually early software update for its newly- released Galaxy S8 phone, it said today after some consumers complained of red-tinted screens. The launch of the device is a key step for the South Korean tech firm as it seeks to move on from last year's humiliating withdrawal of the Galaxy Note 7 over exploding batteries, which hammered the firm's once-stellar reputation. The Galaxy S8 started over-the-counter sales in the US and its home market but South Korean users who pre-ordered the phones complained their screens displayed an unusually reddish hue. Online images of their phones went viral on social media but Samsung denied a hardware flaw and maintained that users could manually adjust the colour range according to their prefer...

Microsoft India Enhanced All Types of Paternal Leave Benefits

22Apr By AdityaNo Comments

News

Microsoft India Enhanced All Types of Paternal Leave Benefits

Microsoft India today said it has enhanced all types of paternal leave benefits and introduced a new family caregiver leave -- which entails four weeks of paid leave to take care of an immediate family member. From April 21, Microsoft India has enhanced all types of paternal leave benefits such as paternity, adoption and surrogacy. Besides, the company has introduced a new family caregiver leave benefit, which includes four weeks of paid leave to take care of an immediate family member with a serious health condition. Definition of family in this case is spouse/domestic partner, parent/in-law, sibling, grandparent or child. With effect from February 2016, maternity leave at Microsoft India is 26 weeks. Paternity leave at Microsoft India has been extended to 6 weeks from 2 we...

Wipro Fired 600 Employees Post Performance Appraisal

20Apr By Press Trust of IndiaNo Comments

News

Wipro Fired 600 Employees Post Performance Appraisal

The country’s third largest software services firm Wipro is learnt to have fired hundreds of employees as part of its annual “performance appraisal”. According to sources, Wipro has shown the door to about 600 employees, while speculation was rife that the number could go as high as 2,000. At the end of December 2016, the Bengaluru-based company had over 1.79 lakh employees. When contacted, Wipro said it undertakes a “rigorous performance appraisal process” on a regular basis to align its workforce with business objectives, strategic priorities of the company, and client requirements. “The performance appraisal may also lead to the separation of some employees from the company and these numbers vary from year to year,” it added. The company, however, did not comment on the number ...

Infosys CEO Vishal Sikka takes home Rs 43 cr in FY17

15Apr By AdityaNo Comments

BUSINESS

Infosys CEO Vishal Sikka takes home Rs 43 cr in FY17

Infosys CEO Vishal Sikka, whose pay package was one of the contentions raised by the founders, has drawn USD 6.68 million (about Rs 43 crore) or 61 per cent of the promised compensation for the 2016-17 fiscal. Sikka was eligible for a USD 11 million pay including basic salary, variable pay, restricted stock units (RSUs) and performance stock options for the year. Incidentally, this is also lower than what Sikka drew in the previous financial year when he took home Rs 48.73 crore. According to Infosys' financial statements that outline compensation to key executives, Sikka received only USD 3.68 million of the USD 8 million variable component that he was promised. One of the highest paid executives in the Indian IT industry, Sikka took home USD 0.82 million in variable pay, USD ...

Need to Reduce ‘Friction’ in Businesses in India: Narayana Murthy

13Apr By Press Trust of IndiaNo Comments

Entrepreneurs Talk

Need to Reduce ‘Friction’ in Businesses in India: Narayana Murthy

To transform India's economy, there is a need to reduce "friction" in businesses and create an "environment" wherein the government has more trust in its entrepreneurs, Infosys founder N R Narayana Murthy has said. For the transformation of the Indian economy, he said it is essential for the younger generation to be daring and that India is integrated with the global economy. "We still have a little bit of work in reducing friction to businesses. We need to create an environment where the government has more trust in its entrepreneurs than it is today," Murthy, 70, told students of the prestigious Darden School of Business at the University of Virginia here. Murthy, the recipient of the 2017 Thomas Jefferson Foundation medal in Global Innovation, was responding to Darden School of...

Cisco to Make India Hub For Global Hardware Export

11Apr By AnkitaNo Comments

News

Cisco to Make India Hub For Global Hardware Export

Networking giant Cisco today said it plans to make India a global export hub for its products, after recently having started manufacturing access points and routers at a facility in Pune. The US-based company also expects to complete 50 digitisation projects by the end of the year across India, which is part of its USD 100 million investment announced last year. "Our roadmap is very clear. Our first intention was to start with 5 or 6 products that we wanted to make in India for domestic market such as access points, routers etc. "The second stage is to make that centre (Pune) a global export hub. That is the next stage we are working on right now," Cisco President India and SAARC Dinesh Malkani said at the Cisco India Summit 2017. In March, Cisco had unveiled its first 'Made in...

San Francisco University Lays Off Its IT Workers, Outsourced Their Work To India

1Mar By reutersNo Comments

News, USA

San Francisco University Lays Off Its IT Workers, Outsourced Their Work To India

San Francisco: The University of California, San Francisco on Tuesday laid off 49 information technology (IT) employees and outsourced their work to a company based in India, ending a year-long process that has brought the public university under fire. The university announced the plan last July as a way to save $30 million over five years. The University of California system, which includes health care and research-focused UCSF, has been struggling to raise revenue and cut expenses. Globalization and outsourcing have become hot-button political issues in the United States, as more employers cut costs by farming out work to low-cost workers in far-flung parts of the world. President Donald Trump campaigned on promises to restore lost U.S. jobs and to penalize companies that move fact...

A Software Professional From Bhubaneswar Won Muvi Hackathon

15Feb By NitishNo Comments

News

A Software Professional From Bhubaneswar Won Muvi Hackathon

Bhubaneswar, Odisha, India– Hackathons are a great way to encourage developers’ communities in any geography and also to bring out the hidden talent in limelight. One such interesting event was conducted by a first of its kind PaaS based product company based out of Bhubaneswar - Muvi. Muvi, a prominent international video streaming platform provider, having a Head office in New York and development center in Bhubaneswar, successfully conducted a 12-hour coding hackathon on 11th of February at their Bhubaneswar office, hosting passionate coders from the region. The company was overwhelmed by the response it received from developers’ community in and around the city and thanks all 250+ registrants and participants of the event for their support. The 12-hour non-stop marathon started a...