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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