Page 15 - It Sector News Today

A silver lining for investors in Info Edge stock is that robust hiring trends in non-IT sectors are expected to offset the impact of muted IT hiring to some extent

Startups laid off over 28,000 people just in the first three quarters of 2023. This alone was over 50% higher than 2022, when companies let go nearly 18,000 employees.

The year also saw an increase in grievances of extortion attempts by antisocial elements from industrial units in Chakan and Ranjangaon.

The IT major at present is seeing its highest-ever large deal pipeline, having reported $7.7 billion worth of large deals in the pipeline in the second quarter ended September 30

The IT services and consulting giant also reported industry-leading Gen AI pipeline of $450 million for just the first quarter, up from $300 million in all of FY23

That is forcing companies including Tata Consultancy Services, Infosys and HCLTech to accept contract conditions such as guaranteeing minimum cost savings, billing the client only if certain goals are achieved and reviewing cost overruns.

Amid gloom against the backdrop of fears of a global recession, major IT players in Bengaluru have enforced steep cuts in yearly hikes and promotions for staffers.

Bengaluru: Amid gloom against the backdrop of fears of a global recession, major IT players in Bengaluru have enforced steep cuts in yearly hikes and

Wipros September quarter showed promising deal bookings but the pace of revenue conversion has been sluggish due to project delays weighing on its turnaround efforts

The pay hikes, which are typically effective from April 1, will now be effective November 1, 2023 instead, said a report