Page 14 - It Sector News Today

Wipro is seeking damages of Rs 25.15 crore from Dalal, along with 18 percent interest per annum until the date of payment, according to the lawsuit copy sourced by Moneycontrol.

In a permanent injunction petition filed against Dalal at Bengaluru’s city civil court, the IT services major is also seeking damages worth Rs 25.15 crore along with 18 percent interest per annum until the payment is done

ISLAMABAD: Caretaker Prime Minister Anwaar ul Haq Kakar Wednesday said the IT sector can play a key role in the...

Plagued by a slew of senior-level management exodus, Wipro has filed lawsuits against at least two of them. In another instance, Infosys, the countrys second largest IT services firm, is reported to have accused Cognizant of using “unethical poaching tactics”.

The ongoing geopolitical situation is squeezing budgets while all customers are not ready for AI products that IT services firms are building, he says.

On Saturday, the country’s second largest IT services firm had disclosed that a global company with whom it had entered into a Memorandum of Understanding in September had decided to terminate the deal

The Indian IT sector, which has seen contraction in hiring amid global economic slowdown and funding winter, is likely to witness a positive turnaround with 8-10 per cent increase in hiring in 2024, a new report showed on Wednesday.

Deven Choksey says: “I would rather put my money in some particular mid-tier IT companies where engineering and R&D space remains relatively more clear to all of us. As a result, we are seeing at least two to five years of visibility for these companies with a larger growth rate vis-à-vis the front-line companies which are likely to grow.”

Wipro alleged that Mohd Haque, its former senior vice president (SVP) and head of healthcare and medical devices for the Americas, joined rival Cognizant as its SVP and business unit head for life sciences before August 1, 2023, which is a breach of his non-compete clause.

The deal loss comes at a time when global uncertainties and macro headwinds have challenged IT and tech companies worldwide