HCLTECH AI JOBS
Ather rides to profit; Pronto's US AI play
Ather Energy swung to profit in the July-September quarter. This and more in today’s ETtech Top 5.
Eternal’s strong Q2 report; Exits outpace hiring at top IT firms
Happy Thursday! Eternal’s Q2 revenue surged on Blinkit’s growth. This and more in today’s ETtech Morning Dispatch.
Software majors delete 24,000 jobs across IT and engineering in a year
Over the last one year, Tata Consultancy Services (TCS), Infosys, HCLTech, Wipro, Tech Mahindra and LTIMindtree collectively recorded 92,000 exits, in line with the industry's normal attrition rate of 11-15%. However, with exits outpacing hiring of new employees in the IT and engineering functions in five of the last six months, overall intake over the 12 months fell by 24,422 to 68,000, data from staffing firm Xpheno showed.
It’s unity in diversity to draw data centres
States play on their uniquestrengths with RE-relatedincentives, powered sites & easier energy procurement.
Company townhall and results can tell 2 different tales; here's what to check if you are worried about your next hike or promotion
Keep manager’s reassurance and employer’s financials apart, says Devashish Chakravarty. Every three months, listed companies must disclose important events to the stock exchange and most of them explain their numbers to analysts. Long before you find an email from your HR, the company has already announced its hiring freeze or restructuring plans in its earnings call.
Software majors add more hands in Q2 on deal wins, growth optimism
Data showed the top six had added a net 5,500 to their rolls in the April-June quarter. Employee data of Infosys, the country’s second-largest software exporter, isn’t included in these calculations as the company is due to announce earnings on October 23 and hasn’t shared its latest manpower data.
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India's TCS senior staff will miss out on variable pay for September quarter, memo shows
In a groundbreaking decision, Tata Consultancy Services has announced that senior employees, specifically those at the C3A grade and higher, will not receive their quarterly performance bonuses this quarter due to shortfalls. Conversely, junior-level staff will still enjoy a full 100% payout of their eligible variable compensation. This marks a significant change, as it is the first time in two years that bonuses have been withheld.
Trump's bid to curb techies may end up benefiting India
Trump’s tightening of H-1B and PERM rules could hurt Indian IT companies in the short term but may also accelerate the shift of more US technology work to India, former HCLTech CEO Vineet Nayar argues. The bigger opportunity would be for Indian firms to move beyond manpower-heavy outsourcing towards higher-value work in AI, product engineering, cybersecurity and technology ownership.
ElevenLabs bets big on India; GCC jobs shift
ElevenLabs is planning to expand its voice AI platform to include all 22 Indian languages. This and more in today’s ETtech Top 5.
The economics of India's biggest export industry goes topsy-turvy
India’s $315-billion IT industry faces a structural shift as AI boosts productivity but puts pressure on pricing, revenue and entry-level hiring. Clients are demanding more output for less, while spending shifts towards AI, cloud and in-house capabilities.
Indian IT’s Q2 earnings dilemma deepens: More deals but weaker growth and falling pricing power
As Indian IT firms gear up for their Q2 earnings report, the landscape appears mixed. Strong deal activity persists, yet clients are pushing for higher efficiency, leading to a notable decline in revenue growth. Large IT companies may witness their weakest growth in three years, primarily due to acquisitions rather than organic expansion. Infosys is under a microscope for possible downward adjustments to its revenue guidance.
TCS, Infosys and other IT stocks in focus after Accenture Q4 revenue, outlook beat estimates
Indian IT stocks including TCS and Infosys are in focus following Accenture's strong Q4 results and above-estimate revenue guidance. While the outlook signals potential recovery in discretionary technology spending, analysts warn that Indian IT firms may still report their weakest Q2 growth in three years amid AI-led pricing pressures.
IT firms reboot fresher hiring, but experienced pros hold upper hand
Fresher hiring, which fell to a record low of around 110,000 in FY26, will reach 115,000 to 135,000 this fiscal year, according to recruitment firm Quess Group’s estimates. This marks a likely increase of 4.5-22.7%.
A new army of forward deployed engineers are rewriting the playbook at Indian IT services companies
Everyone wants FDEs, but where are these specialised engineers? IT firms turn to reskilling & adjacent talent pools as FDE demand outpaces supply, writes Shristi Achar.
Udaan to buy Swiggy’s Lynk; India’s BRICS tech push
Udaan is set to acquire Swiggy-owned Lynk Logistics. This and more in today's ETtech Top 5.
Infosys, HCLTech, TCS, other IT stocks drop up to 3% as Fed rate hike worries return. Here's why
Indian IT stocks dropped on Monday as stronger-than-expected US jobs data revived concerns over a September Federal Reserve rate hike. The Nifty IT index dropped over 2%, with Infosys, HCLTech, TCS and others declining. Analysts, however, see longer-term opportunities from AI-led spending on deployment, integration and modernisation.
Slice’s big valuation cut; Betting networks under lens
Slice Small Finance Bank has raised fresh funding at less than half its previous valuation. This and more in today's ETtech Top 5.
Layoffs at Uber; Astrobase eyes fresh fundraise
Uber will cut thousands of jobs in a restructuring move. This and more in today’s ETtech Top 5.
Domain experts edge out pure techies for plum jobs at IT, GCCs
The search for mid-level talent, with 8-15 years of experience, has now expanded beyond conventional technology profiles, top executives told ET. Some senior roles are witnessing this shift, too, as agentic AI helps quickly bridge the tech gap between industry domain experts and seasoned software pros.
Meta’s Sandhya Devanathan to join OpenAI; IT stocks rally
Meta’s India and South East Asia head Sandhya Devanathan is departing after 10 years to join OpenAI. This and more in today’s ETtech Top 5.
In the AI era, your job will be measured by outcomes, not hours worked: Automation Anywhere’s Ankur Kothari
As new operating models, backed by automation, begin to take shape in enterprises and businesses, the workforce should prepare itself for a change. Outcomes will be the benchmark for productivity and growth, with AI automating most of the repetitive, time-consuming tasks.
AI leaders on automation; PM Modi debriefs space startups
Business leaders at the Economic Times World Leaders Forum said AI agents can reshape work, but governance and human accountability remain crucial. This and more in today's ETtech Top 5.
India's top five IT firms cut nearly 7,000 jobs in FY26
India's top IT firms saw a hiring pullback in FY26, with the five major players reducing staff by nearly 7,000. This shift from expansion to efficiency, driven by AI and uncertain demand, sees a move towards specialised skills. Despite this, overall industry employment saw marginal growth, largely from global capability centres.
IT reworks hiring for Gen Z; HCLTech CEO on AI
Happy Thursday! India’s IT sector is seeing a sharp rise in replacement hiring as Gen Z professionals switch jobs faster. This and more in today's ETtech Morning Dispatch.
Explained: What is Anthropic's AI tool that's sparking job loss fears
What is Anthropic’s new AI tool? The Dario Amodei-led company has launched a legal automation plugin for its Claude Cowork platform that can handle routine legal tasks at scale. Its speed and scope have revived fears of white-collar job losses. The launch also triggered a global selloff in technology stocks, hitting Indian IT firms hard.
HCLTech uses AI to enhance jobs, not cut them: Chairperson Roshni Nadar
At HCLTech’s AGM, chairperson Roshni Nadar Malhotra assured shareholders that AI will transform, not replace, jobs. Emphasising reskilling, the company plans to hire more for AI roles and build a high-paid elite workforce. This comes amid sector-wide hiring slowdown and contrasts with the recent large-scale layoffs at rival firm TCS.
India’s AI talent gap widens as demand surges
Technology companies are struggling to find enough AI experts. The demand for AI skills is rising faster than the supply. Firms like HCLTech and Publicis Sapient are changing how they hire. They seek adaptable talent and offer high salaries for niche AI skills. Startups like StaqU value practical experience over formal qualifications.
HCLTech eyes 15% fresher hiring for specialised, AI roles
This is in line with the general assessment by the industry, pointed out Ram Sundararajan. He, however, did not cite a definite target for fresher hires in the specialised category for the third-largest Indian IT services company.
(AI)gorithm turns recruiter
Top IT services companies are using AI tools and solutions to recruit more, much quicker. Beena Parmar analyses how the new trend is shaping up and Annapurna Roy gives a lowdown on what’s inside
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