Latest news with #NarayanaMurthy
India.com
a day ago
- Business
- India.com
Ratan Tata's TCS, Narayana Murthy's Infosys, Azim Premji's Wipro, HCLTech; Indian IT companies are sacking employees despite profits due to...
Narayana Murthy, Late Ratan Tata and Azim Premji- File image (Left to right) Major IT companies like TCS, HCLTech and Infosys have announced massive layoffs in the recent weeks despite steady revenue growth, leading to several questions. As per the recent update, major Indian IT companies like TCS, Infosys, Wipro, and HCLTech are cutting jobs and slowing hiring. TCS laid off over 12,000 employees (2%), Infosys paused fresher onboarding, and Wipro is trimming roles selectively. However, readers should note that the layoffs aren't due to financial distress. In fact, the IT companies saw Q1 FY26 saw revenue growth. Why IT companies are doing mass layoffs? Experts say that the traditional headcount-driven growth model is being replaced by automation-led productivity, with GenAI and intelligent platforms reducing dependence on entry-level hiring. Reports also say that the IT firms are abandoning the old pyramid structure, raising the bar for fresher training, and focusing recruitment on niche skills like AI, cloud, and cybersecurity. Consequently, revenue per employee is rising, and bench strength is shrinking, leading to more and more layoffs. Reports also say that the layoffs reflect a strategic pivot toward automation, AI integration, and a more lean, skills-based workforce rather than financial distress. TCS shares trade lower after layoff of 12,200 employees As a result of the lay off news, shares of tech major Tata Consultancy Services (TCS) were trading lower on Monday. As per a report by IANS news agency, the share had slipped 1.7 per cent to an intra-day low of Rs 3,081 on BSE. India's largest IT exporter on Sunday announced plans to lay off around 2 per cent of its global workforce. The IT giant which has a total headcount of 6.13 lakh employees as of June 2025, plans to implement the layoffs across various domains and geographies. In a statement, the company said the layoffs would primarily impact middle and senior grades. TCS CEO K Krithivasan described the decision as 'one of the toughest' he had to make and said it is aimed at making the company 'future-ready and agile' in the face of rapidly evolving technologies and workplace models. (With inputs from agencies)
India.com
6 days ago
- Business
- India.com
Big update for Infosys employees on salary hike, Narayana Murthy's IT company says ‘next one we'll have to…'
Narayana Murthy (File) Infosys, India's second-largest IT services firm, is yet to take a call on its next round of salary hikes, even as it recently rolled out a wage increase and reported a strong quarterly performance. The company posted a 9% year-on-year rise in consolidated net profit to Rs 6,921 crore for the first quarter of FY26. Speaking after the results, Chief Financial Officer Jayesh Sanghrajka said Infosys had paid a 'higher' variable pay to employees during the quarter. However, he added that the timeline for the next salary hike is still under discussion. Infosys CFO On Salary Hike 'In the margin of this quarter, we had 100 basis points of impact on account of wage hike as well as the higher variable pay that we paid to our employees this quarter, so that's already done. Having done the wage hike very recently, you know, next one we'll have to decide when,' said the CFO. While talking on the history of wage hikes this year, Infosys' CFO said that the company implemented the first part of its salary hikes from January 2025, and the second was rolled out effective 1 April 2025. 'We did a wage hike already. First part of our hikes was effective January 2025; the second phase is already rolled out, effective 1 April 2025, and the impact of that is already baked in,' said Sanghrajka in the press conference after the company's April-June quarter results announcement. Infosys Headcount The total headcount rose marginally by 210 employees during the course of the quarter, bringing the workforce to 323,788 level, an increase of 2.6 per cent year-on-year. The company said it is on track to hire 20,000 freshers this fiscal year, as announced earlier. Financial services remained the largest sector, contributing about 27.9 per cent of total revenue in Q1 FY26, followed by manufacturing at 16.1 per cent and retail at 13.4 per cent.
India.com
6 days ago
- Business
- India.com
Good news for Narayana Murthy, Infosys earns Rs 69210000000 in…, CEO Salil Parekh says…
Narayana Murthy (File) Infosys Ltd on Wednesday reported an 8.7% year-on-year increase in net profit for the June quarter, while also narrowing its full-year revenue guidance following better-than-expected earnings growth. The IT major posted a consolidated net profit of Rs 6,921 crore for the April–June quarter of FY2025-26, up from Rs 6,368 crore in the corresponding period last year, the company said in a statement. Infosys Q1 Results The IT services company narrowed its annual revenue growth forecast to 1 per cent to 3 per cent band from a prior 0-3 per cent range. Revenue from operations at Rs 42,279 crore was 7.53 per cent higher year-on-year and 3.3 per cent quarter-on-quarter, on the back of strong performance in AI and deal wins. Net profit however fell 1.5 per cent sequentially when compared with the January-March quarter. 'Our performance in Q1 demonstrates the strength of our enterprise AI capabilities, the success in client consolidation decisions, and the dedication of our over 300,000 employees. Our large deal wins of USD 3.8 billion reflect our distinct competitive positioning and deep client relationships,' Infosys CEO and MD Salil Parekh said. Infosys CEO Salil Parekh On Q1 Results Briefing media at the Q1 earnings call, Parekh noted that the start to financial year had been strong. 'The main drivers of our growth were a leadership in enterprise AI, and a continued success in clients selecting us for consolidations. We are seeing good demand for AI agents,' he said. Geographically, North America accounted for 56.5 per cent of quarterly revenue, down from 58.9 per cent in the corresponding period of the previous fiscal. Europe increased its share to 31.5 per cent, up from 28.4 per cent in the Q1 FY25. Infosys CFO Jayesh Sanghrajka said that Europe has been strong footing for the company for past many quarters. 'That's on the back of the investment that we made a few years back in Europe. We had identified Europe as a geography to invest into and all of that is working well across sectors….but still, US remains the largest geography for us,' Sanghrajka said. The Large Deal TCV (or total contract value) stood at USD 3.8 billion.
The Hindu
22-07-2025
- General
- The Hindu
Free introductory course on meditation
The Institute of Sri Ramachandra Consciousness (IRSC) will organise a free two-day introductory course on 'Pranahuti Aided Meditation' at its Visakhapatnam centre at Kurmannapalem on July 26 and 27. The introductory course will be held from 9 a.m. to 6 p.m. on both days. Registration will end on July 25, according to Y. Narayana Murthy of IRSC Vizag centre. For registration and more information, contact mobile no.'s 8500094810 or 9490423383. They can also log on to the website:
India.com
22-07-2025
- Business
- India.com
Infosys starting salary for freshers: Here's how much Narayana Murthy's company pays to freshers
Infosys starting salary for freshers: Here's how much Narayana Murthy's company pays to freshers Mumbai: Indian IT giant Infosys, which faced massive backlash for laying off hundreds of trainees, has not made any significant change in its salary structure in recent years for freshers. IT majors like Infosys and TCS have not revised their fresher salary structures for over a decade What Is The Monthly Salary Of Freshers At Infosys? The Narayana Murthy company's salary for freshers ranges between Rs 3-3.5 lakh per annum. And it has not been revised for several years. What Is The Monthly Salary Of Infosys Employees? The monthly salary of employees working at Infosys depends on their bands and work experience. As per a System Engineer at the company can earn an average of Rs. 3.7 lakh per annum. Individuals who are working at Infosys as a Test Engineer can earn around Rs. 4.3 lakh per annum. On the other hand, people working as a Software Developer can earn between Rs. 6.4-Rs. 9.5 lakh per year. It is to be noted that salaries of employees can also vary based on their city and region. Salary Trends In 2025 Employee salaries rise incrementally over time, based on experience and predefined pay scales. Apart from their basic pay or fixed salary, Infosys employees can also earn bonuses, stock options, and other benefits over time. Designation / Role Annual Salary (Rs) Monthly Salary (Approx.) Notes Freshers Rs 3 – 3.5 lakh Rs 25,000 – 29,000 Unchanged for over a decade System Engineer Rs 3.7 lakh Rs 30,800 Average as per Test Engineer Rs 4.3 lakh Rs 35,800 Software Developer Rs 6.4 – 9.5 lakh Rs 53,300 – 79,100 Varies based on experience and location Infosys Q1FY26 Results Date And Time The IT giant is set to announce its first-quarter results for the current financial year tomorrow on Wednesday. On its regulatory filing, the company informed that the meeting will start at around 3.45 on Wednesday. 'Infosys, a global leader in next-generation digital services and consulting, will announce results for the first quarter ended June 30, 2025, on Wednesday, July 23, 2025, around 3:45 pm,' Infosys said in its regulatory filing. Infosys will hold a press conference at 4:15 PM to discuss its latest financial results. Management will address media inquiries. A subsequent investor and analyst call is scheduled for 5:30 PM, lasting one hour.
