Infosys expands partnership with Australia's leading telco Telstra
Infosys announced the expansion of its existing collaboration with Telstra, Australia's leading telecommunications and technology company. Infosys will be the strategic partner for Telstra International, the global arm of Telstra, to advance technology leadership, drive innovation and support Telstra's new Connected Future 30 strategy by dynamically responding to customers' evolving needs.
The collaboration will also drive efficiency while accelerating Telstra International's strategy of streamlining operations and delivering solutions which add value to customers. Infosys will deploy an AI-first approach to modernize and streamline essential systems for Telstra International, which will enhance connectivity, drive business growth, and accelerate the adoption of AI.
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Business Standard
3 hours ago
- Business Standard
Why Indian IT firms are cutting jobs even as revenue continues to grow
Even as top line growth holds steady, IT giants such as TCS, Infosys and Wipro are shedding jobs, signalling a shift to automation, pyramid reset and legacy rationalisation Rimjhim Singh New Delhi Major Indian IT companies are reducing jobs or slowing hiring — even though their revenues are stable or increasing. In recent months, Tata Consultancy Services (TCS) announced a cut of about 2 per cent of its workforce (over 12,000 jobs), while Infosys has drastically slowed down fresher onboarding. Wipro is also trimming roles in a targeted manner. These trends point not to financial distress, but to a deeper change in strategy, as companies future-proof their workforce and delivery models. Number game: Workforce vs revenue Despite these cuts, revenue growth has remained positive, albeit subdued. In Q1 FY26 (April-June 2025), TCS reported a 1.3 per cent rise in revenue to ₹63,437 crore, with net profit up by 5.9 per cent. Infosys saw 7.5 per cent revenue growth to ₹42,279 crore, while HCLTech outperformed peers with an 8.1 per cent increase. TCS, Infosys, Wipro, and HCLTech have all reported modest year-on-year revenue growth in the latest quarter. However, these numbers have come along with shrinking or flat employee bases. For example: - TCS reported one of its weakest first-quarter results since 2020 but still took the step to cut 2 per cent of its employees - Infosys hired just 15,000 trainees in FY25 — a much lower number than previous years — and paused fresher onboarding while guiding for flat to 3 per cent revenue growth for FY26 - HCLTech also reported fewer net additions and has gone slow on recruitment Because revenues are not dropping but hiring is, revenue per employee is rising across top IT majors. This marks a shift from the past, where headcount growth reliably matched business growth. What is driving the cuts? -AI and automation are being embedded into core service delivery. TCS, Infosys, and HCLTech continue to invest aggressively in GenAI and automation platforms. As TCS's CEO said, 'We have been deploying AI at scale... ways of working are changing. We need to be future-ready and agile,' highlighting how AI-led productivity is offsetting the need for large-scale hiring, especially at lower rungs. -Traditionally, IT firms operated on a pyramid model, hiring large numbers at the entry level and fewer at the senior level. Now, this is shifting. With automation handling more basic tasks, companies are shifting towards a more skills-focused structure, with implications for campus recruitment and entry-level jobs. Firms have made their training and screening tougher, resulting in higher rejection rates of fresher trainees at firms like Infosys. How IT giants are responding TCS: - Cut 12,260 jobs (2 per cent of workforce) -Framing layoffs as necessary for becoming "future-ready" -The Ministry of Labour and Employment has asked TCS for a meeting with the chief labour commissioner in New Delhi on August 1 to address the delay in onboarding over 600 experienced professionals. The directive follows a complaint by the Nascent Information Technology Employees Senate (NITES), which alleged that TCS failed to honour job offers despite issuing offer letters and formal communication. Infosys: -Slow or flat hiring; pausing fresher onboarding. -Layoffs especially among trainees who fail new, tougher assessments What it means for the workforce These moves mean a shrinking bench size and reduced fresher absorption. Hiring is now focused on niche talent in areas like AI, cloud, and cybersecurity. For those already on the payroll, constant reskilling is vital — even for mid-career roles. Outlook: New rules of scale Growth is no longer tied to expanding employee count. With the recent cuts, it now appears that IT firms are betting on quality over quantity, seeking to improve output per employee. This change puts pressure on engineering colleges, reduces fresher offers, and demands a new approach to talent development for the Indian IT sector.
Time of India
5 hours ago
- Time of India
Infosys, Wipro, other IT stocks fall up to 3% as TCS job cuts deepen concerns over sector slowdown
Shares of largecap IT companies slid on Monday, with Wipro and Infosys falling up to 3%, after Tata Consultancy Services ( TCS ) said it would cut 2% of its global workforce, around 12,000 employees, amid persistent macroeconomic headwinds and weak discretionary spending. The announcement dragged the Nifty IT index 1.6% lower, extending losses in a sector already in bear territory. TCS shares declined 1.7% to Rs 3,081.60 after the company said it could no longer reassign employees whose skills do not match its evolving business needs. 'The deployment of some associates may no longer be feasible under current market conditions,' TCS said, adding that the layoffs were not driven by AI-related efficiency but by structural realignment. Explore courses from Top Institutes in Please select course: Select a Course Category Management MCA PGDM others MBA Degree Artificial Intelligence Project Management Data Analytics Data Science Digital Marketing Leadership Public Policy CXO Others Technology Operations Management healthcare Healthcare Finance Data Science Design Thinking Product Management Skills you'll gain: Duration: 10 Months IIM Kozhikode CERT-IIMK GMPBE India Starts on undefined Get Details Skills you'll gain: Duration: 9 Months IIM Calcutta CERT-IIMC APSPM India Starts on undefined Get Details Wipro fell 3.5% to Rs 250.05, while Infosys slipped 2.2% to Rs 1,482.50. HCL Tech edged 1.1% lower and Tech Mahindra dropped nearly 1%. The Nifty IT index is trading 24% below its recent peak of 46,088.90. Challenging outlook The layoffs, which will primarily affect middle and senior grades, come as clients remain cautious amid trade tensions and a global slowdown in technology spending. Live Events "The sharp cut in the IT index has been dragging the market down, and there is no respite in this in view of the 2% cut in its global workforce announced by TCS. However, midcap IT names hold promise in view of their strong growth prospects," said Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments. As of June 2025, TCS employed 613,069 people worldwide. The company said the transition is being managed carefully to ensure client service continuity. Affected employees will receive full notice-period compensation, severance benefits, insurance extensions, outplacement support, counseling, and transition assistance. Industry slowdown The job cuts follow legal complaints over TCS's recently revised 'bench policy,' which allows only 35 annual days for employees to remain unassigned before performance-related action and mandates a minimum of 225 billable days annually. The broader IT industry has also shown signs of stress. Job additions across the top six Indian IT firms fell over 72% in the April–June quarter, with only 3,847 new hires compared to 13,935 in the previous quarter, according to a report by ET. Despite the turbulence, TCS reaffirmed its commitment to long-term priorities such as investments in new-age technologies, AI deployments, deeper global partnerships, and the development of next-generation infrastructure. Also read | TCS shares slip nearly 2% after company announces over 12,000 layoffs ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
New Indian Express
6 hours ago
- New Indian Express
Indian markets open lower amid IT, banking drag
CHENNAI: Indian stock markets opened on a weak note on Monday, July 28, tracking broad-based selling, particularly in IT and private banking stocks. The BSE Sensex fell 306 points, or 0.38%, to 81,155 at open, while the Nifty50 declined 93 points, or 0.37%, to trade at 24,744. Leading the losses were Kotak Mahindra Bank, which dropped over 6%, followed by IT majors TCS, Infosys, and HCL Tech. Other laggards on the Sensex included Bharti Airtel, Titan, and Bajaj Finance. On the positive side, Tata Motors, Bajaj Finserv, Ultratech Cement, Maruti Suzuki, Tata Steel, and Power Grid posted gains, lending some support to the benchmarks. The broader markets also saw weakness, with the Nifty MidCap index down 0.28% and the Nifty SmallCap index slipping 0.58%. Sectorally, the Nifty IT index was the worst performer, falling 1.4%, while the Nifty Private Bank and Realty indices also lost over 1% each. In the IPO space, the listing of SME issues Swastika Castal and Savy Infra is in focus. Meanwhile, new SME IPOs from Repono and Umiya Mobile opened for subscription. PropShare Titania's mainboard IPO enters its final day, while ongoing issues from Shanti Gold International, Sellowrap Industries, Shree Refrigerations, and Patel Chem Specialities continue into their second day. Brigade Hotel Ventures' IPO enters Day 3, and allotment status is expected today for Indiqube Space, TSC India, and GNG Electronics.
