HCLTECH HIRING PLANS
Exclusive | Cognizant in talks to invest in Indian AI startup Sarvam valuing it at $3.5-4 billion: sources
Cognizant’s potential investment in Sarvam comes as advances in agentic AI raise questions about the future of the IT services industry. AI agents are increasingly capable of automating tasks across software development, application maintenance and back-office operations, potentially disrupting traditional outsourcing models.
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.
Infosys, TCS and Cognizant cut H-1B lottery registrations as Trump tightens US visa rules
Infosys, Tata Consultancy Services (TCS) and Cognizant registered far fewer candidates for the US H-1B visa lottery for fiscal year 2027, according to a report. Cognizant recorded a 100 per cent drop in registrations, while Infosys and TCS saw declines of 91 per cent and 95 per cent, respectively. The fall comes as the Trump administration raises hiring costs, changes the visa selection process and increases scrutiny of employers.
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.
Sarvam plans big fundraise; HCLTech's Q2 profit jumps
Happy Tuesday! Sarvam is in talks for a big round that could double its valuation to $3 billion. This and more in today’s ETtech Morning Dispatch.
AI startup Sarvam in talks for $300 million top-up; valuation may double to $3 billion
The startup builds Indian-language AI models and applications for government agencies and businesses, including banks and insurers. Its customers include Life Insurance Corp. of India, SBI Life, IDFC First Bank, Tata Capital and Cred. Maharashtra has approved deployment of Sarvam’s Indus AI workspace across departments for drafting, translation and document analysis, with government data hosted within India.
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Green card woes deepen for Indian tech workers
Thousands of Indian technology professionals are facing uncertainty regarding their US permanent residency applications. Major technology companies have been suspended from the permanent labor certification program, impacting green card processing. Employees nearing the H-1B visa limit may encounter immediate difficulties due to these restrictions. Companies are evaluating their immigration strategies to support affected employees and ensure talent retention.
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.
US green-card freeze hits TCS, Infosys, Wipro; GTRI warns of wider IT curbs
The US government has suspended eight technology companies, including TCS, Infosys, Wipro and HCLTech, from the PERM green-card sponsorship programme, raising concerns over potential restrictions on foreign tech workers. A Global Trade Research Initiative (GTRI) report warns that curbs could extend to H-1B hiring and skilled-worker mobility. The move may push Indian IT firms to diversify markets and expand domestic delivery.
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.
Wipro's AI push frees capacity equivalent to 20,000 workers, CTO says
The comments come as India's $315 billion software services industry grapples with adoption of AI, which is reshaping hiring, software development and contracts.
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.
Big Tech can’t disrupt IT: Tech Mahindra CEO Mohit Joshi
Chief executive Mohit Joshi said that he isn’t concerned about Big Tech firms like Google or AI labs like Anthropic or OpenAI getting into AI services by hiring forward deployment engineers (FDEs), as he feels the IT industry's cost structures and the models it operates on are vastly different and hard to imitate.
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.
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.
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.
HCLTech’s first quarter net drops 10% YoY to Rs 3,843 crore, revenue up 8%
India’s third-largest software services company reported a net profit of Rs 3,843 crore in the three months ended June, historically a soft quarter for the software business. Margins fell 16.3% during the quarter amid lower employee utilisation “due to delay in implementation and ramp-down of a specific program, which resulted in a larger bench.”
Top IT firms boost fresher hiring targets on signs of demand revival
The $254-billion Indian IT industry had shed a record more than 70,000 employees in FY24 as their clients cut tech spends amid a global slowdown. For FY26, bellwether Tata Consultancy Services (TCS) will target to hire much more than a “regular year” to recruit over 40,000 freshers from campus.
IT firms Infosys, Wipro to speed up fresher hiring in FY26
As growth returns to the $254-billion IT industry, outsourcing majors will add more frontline jobs at junior and entry levels. This will help reduce costs and bring younger and more flexible engineers in the fold.
HCLTech Q3 profit up 5.5% to Rs 4,591 crore, revenue climbs 5%
HCLTech’s software revenue growth however declined 2.1% YoY in constant currency terms as it failed to close some deal renewals as well as new deals. Consolidated revenue in the three months ended December grew 5.1% year-on-year (YoY) and 3.6% quarter-on-quarter (QoQ) to Rs 29,890 crore backed by services revenue growth.
Top office transitions: How leadership shake-ups have changed India's IT sector
The Indian IT sector, including companies like Wipro, Infosys, HCLTech, and Tech Mahindra, has undergone significant leadership changes, with many firms favoring internal promotions for key roles to ensure stability. Notable exits and appointments highlight strategic shifts and succession planning as priorities for these companies.
Tech Mahindra adds 6,653 employees in Q2, leading the pack
This is the second consecutive quarter of headcount growth for the company, following a dip of nearly 800 employees in Q4 of FY24. Tech Mahindra’s Q2 headcount addition was the highest among the top five IT services firms, which include Tata Consultancy Services (TCS), Infosys, HCLTech, and Wipro.
Infosys opens ‘Power’ programme offering freshers up to Rs 9 lakh a year
Infosys is offering a much higher package than the average entry-level pay offered by the company. TCS offers salaries in the range of Rs 9-11 lakh per annum under ‘Prime’, a programme it launched last year. The firm has expanded its scope this year, adding newer technologies such as artificial intelligence (AI), generative AI (GenAI) and machine learning (ML).
IT companies' hiring offers slight respite to engineering colleges
IT companies like Infosys, Wipro, TCS are vital for engineering colleges as they tend to make large hirings, ranging from a few hundreds to thousands, usually in September.
Top four IT firms report 50,000 fall in headcount over last year
Over the year, the headcount at India’s largest software services firm, TCS, dropped by 10,669. Infosys reported a 24,182 reduction, while Wipro posted a 18,510 fall. At HCLTech, the number increased by 2,486
HCLTech launches delivery center in Iasi, Romania
The new center in Iasi will provide next-generation digital, engineering, cloud and AI solutions. As part of its nearshore strategy to serve global clients.
In Q1, headcount at India’s top IT companies shrinks sharpest over past three years
Six leading Indian IT services companies that have announced first-quarter earnings recorded the sharpest contraction in headcount in the last three years in the April-June period.
Headcount at big 4 Indian IT companies dips in Q1
ET had previously reported that Q1 headcount growth for the IT majors is expected to be flat, in line with the numbers reported for the January March quarter.
Slow tech spends hit IT staff’s wallets
Deferred hikes, reduced variable pay as well as delays in onboarding hires at IT companies. India's third-largest IT firm HCLTech told ET that senior employees will not get annual increments for this fiscal year while hikes will be deferred by a quarter for other staff.
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