All articles tagged with #tcs
Tata Consultancy Services (TCS) CEO K. Krithivasan announced that the company will not be hiring new H-1B visa holders in the US, focusing instead on expanding its local workforce and renewing existing visas, signaling a shift in visa hiring strategies among major corporations.
India's leading IT firm TCS plans to cut over 12,000 jobs amid a shift towards AI, highlighting a skills mismatch and broader economic challenges in India's software sector, which could impact the country's middle class and economic growth.
The Q2 earnings of major IT services companies, including TCS, Infosys, and HCL Tech, have shown positive results in terms of margins and record-high total contract value (TCV) of deal wins. While the companies employed strategies to maintain margins, there has been a setback in discretionary demand, leading to reduced revenue guidance by Infosys. However, the increase in deal wins is seen as a positive sign for future revenue growth, and analysts expect margin expansion for these companies in the coming years. The stabilization and improvement of discretionary spending are crucial for meeting revenue growth estimates in the long term.
Tata Consultancy Services (TCS) has been hit by a bribery scandal, with some employees accepting bribes from staffing companies and hiring personnel. The scam, which has been going on for some time, is believed to involve over INR100 crore ($13.5m). The scandal will have an impact on the Indian IT industry, with doubts being raised about the quality of personnel working on various projects. The scandal will also lead to a cleanup of the human resource recruitment system, as the staffing companies blacklisted by TCS are major suppliers to many big Indian IT companies.
Tata Consultancy Services (TCS) has been involved in a Rs 100 crore bribe-for-jobs scam, with several top officials implicated. The company hired a three-man team to investigate the allegations made by a whistleblower, and found that the scam had been implemented by several top men at the firm. TCS has sacked four top leadership officials and sent its head of recruitment on leave.
Rajesh Gopinathan, CEO of Tata Consultancy Services (TCS), India's largest IT services provider, will resign from his position after just a year into his second five-year term. K Krithivasan has been named CEO-designate and will take over as CEO and managing director in the next financial year, subject to shareholders' approval. The move comes as the Indian IT industry faces a challenging macroeconomic environment in its key markets of Europe and the United States.