Latest news with #JayeshSanghrajka
Business Upturn
16 hours ago
- Business
- Business Upturn
Infosys inaugurates new Development Center at GIFT City to boost BFSI Tech services
Infosys (NSE, BSE, NYSE: INFY), a global leader in digital services and consulting, has inaugurated its new Development Center (DC) at Gujarat International Finance Tec-City (GIFT City), Gandhinagar. The newly launched facility is designed to support over 1,000 employees operating in a hybrid work model. The center will serve as a strategic TechFin hub, focusing on delivering advanced digital solutions to global Banking, Financial Services, and Insurance (BFSI) clients. Key service areas include digital banking, regulatory compliance, capital markets, trade finance, cards and payments, and risk management. Infosys will harness cutting-edge technologies such as Artificial Intelligence (AI), Generative AI (Gen AI), cloud, APIs, blockchain, and cybersecurity to provide seamless cross-border digital services and enhance client engagement. The Development Center was inaugurated by the Hon'ble Chief Minister of Gujarat, Shri Bhupendrabhai Patel. Infosys CFO Mr. Jayesh Sanghrajka, Senior Vice Presidents Mr. Niladri Prasad Mishra and Mr. Rajneesh Malviya, along with senior government officials, were present at the event. Aligned with Infosys' ESG (Environmental, Social, and Governance) goals, the facility integrates sustainable design features including energy efficiency, water conservation, and smart operational systems. The workplace also supports collaboration, productivity, and innovation through a future-ready hybrid office model. This initiative reinforces Infosys' commitment to strengthening India's role as a global financial technology hub and driving innovation in the BFSI sector. Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Time of India
19 hours ago
- Business
- Time of India
FinTech push: Infosys opens GIFT City centre for BFSI digital services; new hub to house over 1,000 employees in hybrid model
Infosys on Saturday announced the opening of its new development centre at Gujarat International Finance Tec-City (GIFT City) in Gandhinagar, marking a strategic expansion of its presence in India's premier international financial hub. Tired of too many ads? go ad free now The Bengaluru-based IT major said the facility will support more than 1,000 employees in a hybrid working setup and serve as a key TechFin hub delivering advanced digital solutions for global clients in the banking, financial services and insurance (BFSI) sector. 'This centre will offer a state-of-the-art facility for over 1,000 employees in a hybrid working model. It will function as a key TechFin hub, delivering advanced digital solutions for global BFSI clients,' Infosys said in a statement, as quoted an ET report. The centre will provide services in digital banking, capital markets, trade finance, regulatory and compliance functions, cards and payments, and risk management. It will also harness technologies such as AI, generative AI (GenAI), cloud, API, cybersecurity, and blockchain to enable cross-border digital solutions. According to the company, the GIFT City hub aligns with Infosys's global delivery strategy and strengthens its capabilities in delivering seamless tech-enabled financial services. 'Setting up our development centre in GIFT City is a strategic step aligned with our vision of leading innovation in financial services from within India's foremost international financial hub," said Jayesh Sanghrajka, chief financial officer, Infosys. Designed as a future-ready hybrid workplace, the centre will also focus on enhancing productivity and fostering collaboration, the company said.
Time of India
20 hours ago
- Business
- Time of India
Infosys sets up development centre in Gift City with 1,000 employees capacity
Infosys announced the inauguration of its new development centre at Gujarat International Finance Tec-City ( GIFT City ) in Gandhinagar on Saturday. "This centre will offer a state-of-the-art facility for over 1,000 employees in a hybrid working model . It will function as a key TechFin hub, delivering advanced digital solutions for global BFSI clients," Infosys said in a statement. Its services will span critical domains including digital banking, regulatory affairs, trade finance, capital markets, cards and payments, as well as risk and compliance management, it added. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villa For Sale in Dubai Might Surprise You Villas in Dubai | Search ads Learn More Undo The centre will leverage the latest technologies, such as artificial intelligence (AI) and generative AI (GenAI), cloud computing, application programming interface (API), cybersecurity and blockchain, to deliver seamless cross-border digital services and enhance client proximity to strengthen India's position as a global financial technology powerhouse. The centre strengthens the Bengaluru-headquartered IT bellwether's global delivery model. Live Events 'Setting up our development centre in GIFT City is a strategic step aligned with our vision of leading innovation in financial services from within India's foremost international financial hub," said Jayesh Sanghrajka, chief financial officer, Infosys. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories The centre is designed as a future-ready hybrid workplace, focusing on enhancing productivity and building social capital among other things.
Mint
29-04-2025
- Business
- Mint
Infosys layoffs: IT major cuts 195 more trainee jobs in Mysuru; nearly 250 opt for UpGrad, NIIT upskilling programmes
Infosys Layoffs: IT major Infosys reportedly cut another 195 trainee jobs in Mysuru, from a batch of 680 people, after the new recruits failed to clear the internal assessment, according to a Moneycontrol report citing emails dated April 29. 'Further to the announcement of the results of your final assessment attempt, please be informed that you have not met the qualifying criteria in the 'Generic foundation training program' despite the additional preparation time, doubt-clearing sessions, several mock assessments and three attempts. As a result, you will not be able to continue your journey for the apprenticeship program,' reported the news portal, citing the official email. On February 7, 2025, the news portal reported that the IT major has laid off 400 campus recruits after they failed the evaluation test. Later on April 18, the company reportedly laid off another 240 entry-level employees who were unable to clear the internal assessment. According to the news portal, this was Infosys' fourth round of layoffs since February 2025, bringing the total number of job cuts to 800. Infosys refused to confirm the developments when approached by LiveMint. However, the news portal's report suggests that Infosys has, so far, maintained that the company has followed their existing policy, which mandates that freshers will not be able to continue with the organisation if they fail the internal assessment. After India's second-largest IT firm reportedly laid off the new hires, 250 people out of the approximate 800 have enrolled themselves in upskilling programmes in UpGrad and NIIT. At the same time, 150 of them have registered for outplacement services, according to the news portal. As per the report, the company has created a tie-up with UpGrad for BPM training and another with NIIT for IT training. These training programmes are free to those affected by the layoffs. Infosys also offers to pay for an alternative 12-week training program for the potential roles in Infosys Business Process Management (BPM) to the affected people. These trainees were allegedly onboarded after a delay of more than 2.5 years, as per the news report. The IT major is also offering one month's payment along with a relieving letter for the affected trainees, as per the report. The affected people will be given transport, from Mysuru to Bangalore, along with a standard travel allowance to their hometown, according to the report. After the announcement of January to March quarter results, Infosys' Chief Financial Officer (CFO) Jayesh Sanghrajka revealed that the IT major plans to hire more than 20,000 freshers in the financial year 2025-26. 'In terms of hiring, we are expecting to hire 20,000-plus freshers,' said Sanghrajka in the media briefing. The company currently employs more than 3.23 lakh professionals, and the firm also reported a 199-employee hike in its fourth quarter results. Infosys shares closed 1.03 per cent higher at ₹ 1,497.40 after Tuesday's stock market session, compared to ₹ 1,307.10 in the previous market close. First Published: 29 Apr 2025, 04:37 PM IST
Mint
23-04-2025
- Business
- Mint
TCS vs Infosys vs Wipro vs HCL Tech: Hiring plans, salary hike, headcount ratio, layoffs compared
Major Indian IT companies have announced their hiring policies and workforce trends along with financial results for the quarter/year ending March 31, 2025. These developments come as the IT sector navigates economic uncertainties, a global trade war, and tariff concerns. Here's a comparison between hiring policies, salary hikes, headcount ratios and layoffs for major IT firms – Tata Consultancy Services (TCS) plans to hire thousands of freshers in FY26. During the TCS earnings press conference, Chief Human Resource Officer Milind Lakkad said that the company is hiring 42,000 freshers this fiscal year, in accordance with the hirings made in the last fiscal year. The IT major deferred the salary hike this year, a departure from its April increment cycle. TCS reported a 13.3 per cent attrition rate for the quarter ended on March 31, 2025. The IT firm continued to expand its workforce, adding 6,433 employees. The total headcount stood at 607,979, up from 601,546 in Q4 FY24. The workforce grew by 625 from the December 2024 quarter's count of 607,354. There is no official confirmation regarding layoffs by the IT major. However, several employees in the United States have alleged that the company has been biased towards Indian employees and fired American workers during layoffs, reported Bloomberg. The company has strongly denied such allegations. Infosys CFO Jayesh Sanghrajka announced that the IT firm plans to hire more than 20,000 freshers in FY26. The IT major hired 6,388 employees, bringing its total workforce to 323,578, marginally higher than 317,240 employees in the previous financial year. India's second-largest IT firm announced that a major portion of salary hikes were rolled out in January, and the rest will be rolled out from April 1. It was previously reported that the salary hikes for most of the employees at Infosys range from 5-8 per cent on average, lower than the previous year, according to Moneycontrol. Meanwhile, the top performers received 10-12 per cent salary hikes. Infosys classifies employees' performance into four categories – outstanding, commendable, met expectations, and needs improvement. Infosys reported a headcount increase of 199 employees for the quarter ended on March 31, 2025. The attrition rate was reported at 14.1 per cent in Q4FY25 on a year-on-year basis, up from 13.7 per cent in the previous quarter. Earlier this year, India's second-largest IT firm made headlines for laying off 400 trainees after they failed evaluation tests in three consecutive attempts. These employees constituted approximately half of the new joiners onboarded in October 2024. Wipro added just 612 employees in the quarter ended on March 31, 2025. The company announced that it hired around 12,000 freshers from campus in the last fiscal year. However, Wipro did not mention the FY26 hiring target. The net headcount addition of Wipro for FY25 stood at 1,032. The IT major's attrition rate dipped to 15 per cent from 15.3 per cent in the third quarter, while headcount rose to 2,33,346 employees. There is no official confirmation regarding layoffs. Wipro did not give any major update regarding salary hike and informed that the company will make a decision closer to the date. 'We are still very far from that time, and in this uncertain environment, we will decide closer to the date,' Chief Human Resource Officer Saurabh Govil said after the announcement of Q4FY25 results. He further added that the company gave salary hike ahead of time in September. The company added 2,665 employees for the quarter ended on March 31, 2025, a reduction of 4,061 employees from the previous year. The company has hired 7,829 freshers in FY 25. The total headcount stood at 223,420 after the addition in March quarter. The company claimed that the headcount declined by 7,398 employees on account of divestiture. The attrition rate stood at 13.4% in Q4, up from 13.2% in the previous quarter. There is no official confirmation in connection with layoffs and a salary hike. First Published: 23 Apr 2025, 07:32 AM IST
