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job cuts: Top IT companies cut over 72,000 jobs in FY24

The top six information technology services companies in India reported a reduction in their total headcount in the last fiscal year, with only HCLTech adding employees. Factors contributing to this reduction include the economic slowdown, automation, restructuring, and decreased discretionary spending. The drop in headcount reflects the aftermath of excessive hiring during the Covid boom and ongoing industry contraction in demand. However, experts believe that this trend may have bottomed out, and companies could resume hiring, given the strong deal wins announced by most of them, which could push a gradual pickup in growth.

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Top IT Cos Cut over 72,000 Jobs in FY24

Once known for hiring hundreds of thousands every year, five of Indias top six information technology services companies reported a reduction of 73,600 in their total headcount in the last fiscal year.

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Can electric cars electrify muted IT firms in a dull year?

Automotive clients account for up to 35% of IT services' manufacturing clients.India's top IT firms thus clearly draw meaningful revenue from carmakers around the world.With the advent of electric and tech-laden cars, IT's reliance on automotive revenue is now rising

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Consumer sector: On the slow lane to recovery - The Hindu BusinessLine

Consumer sector: On the slow lane to recovery - The Hindu BusinessLine
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Infosys Limited (NYSE:INFY) Q4 2024 Earnings Call Transcript

Operator: Ladies and gentlemen, good day, and welcome to Infosys Limited Earnings Conference Call. [Operator Instructions] Please note that this conference is being recorded.

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it earnings: IT earnings may show worst is over for showpiece sector; all eyes on TCS today

Banks spending more on technology to meet regulatory mandates, companies upgrading SAP systems and a broader increase in technology spending after US elections due in November are some of the factors that have raised demand recovery prospects for Indias $245 billion-plus IT services sector next year.

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Indian tech earnings may show worst is over for showpiece sector

India Business News: After more than a year of slowing sales, India’s software services companies that power corporations ranging from global banks to retailers to planema.

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Indian tech earnings may indicate worst is over for showpiece sector

Indian tech earnings may indicate worst is over for showpiece sector
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IT earnings may show worst is over for showpiece sector; all eyes on TCS today, ET Telecom

IT Earnings: Executives from TCS and Infosys told investors after third-quarter earnings that the market had stabilized and clients were spending on AI-driven projects and software services that helped them cut costs.

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IT firms may report muted Q4 growth, eyes on FY25 guidance

With the last quarter of 2023-24 (FY24) expected to have been soft owing to lower discretionary spend and macro uncertainty, many are hoping FY25 will be a year of recovery for the information-technology (IT) industry.

The fourth quarter, January-March, is considered soft, and will continue to see the headwinds the sector has been facing. And the sector has entered the new financial year on a weak footing.

Analysts are expecting Tier-I firms to report sequential growth of -1 per cent to 1.5 per cent and midcap players' growth may range between 0.7 per cent and 4 per cent.

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