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US-based think tank Ethisphere Institute selected the 135 companies on the list from 23 countries across 57 industries LATEST NEWS :     IT services and outsourcing provider Wipro Limited and Tata Steel Ltd are the two Indian firms that have been selected among 135 of the world's most ethical companies for 2018 by the US-based think tank Ethisphere Institute. The 135 companies dedicated to "defining and advancing the standards of ethical business practices" were selected from 23 countries across 57 industries, Ethisphere said in a statement late on Monday. Microsoft, Dell, Salesforce, and Adobe are some of the global tech giants who figured in the 2018 list. "Over the last 12 years, we have repeatedly seen that those companies who focus on transparency and authenticity are rewarded with the trust of their employees, their customers, and their investors," said Ethisphere CEO Timothy Erblich. "While negative headlines might grab att...

TCS is setting up a large BPO operation in Varanasi next year, some staff could be absorbed there LATEST NEWS : India's largest IT services firm Tata Consultancy Services is shutting its Lucknow centre as part of the consolidation of its UP operations and has asked its over 1,000-odd employees to either shift to its centre in Noida, Indore or any other facility in the country "We are consolidating our UP operations. There have neither been any job losses nor have we asked anyone to quit," said a TCS spokesperson. TCS is also setting up a large BPO operation in Varanasi, Prime Minister Narendra Modi's constituency next year and some of these staff could  be absorbed in the centre. The 10-year old facility in Gomti Nagar, does  internal process for TCS and has a small team that works on projects for  global clients. TCS employees in Lucknow were briefed about the development  on Wednesday, following which they have petitioned UP chief minister ...

According to reports, the 7 biggest IT firms operating in India are set to let go of 56,000 workers In his social media post, an anonymous techie called the recent spate of layoffs in the information technology (IT ) sector a "nightmare". The bad news is, the nightmare is unlikely to end anytime soon. The seven biggest IT companies operating in India, including Wipro, Infosys, Tech Mahindra and Cognizant, are planning to layoff at least 56,000 engineers this year, Livemint reported on Thursday. According to the report, this projected number is double the amount of layoffs by these companies last year. Mint claims the astoundingly high number was arrived at after "extensive interviews with 22 current and former employees across these seven companies". Read this: 62 million tonnes of waste generated annually; how ragpickers help clean it The companies concerned are Infosys, Wipro, Tech Mahindra, HCL Technologies, US-based Cognizant Technology Solut...

Firm says nothing new about it, laggards weeded out every year, this year is no different Software services firm Tech Mahindra has sacked thousand odd employees this month joining peers such as Wipro, Infosys and Cognizant to trim workforce as they face their worst business crisis in nearly a decade. Indian firms are witnessing their slowest growth in a decade due to automation, technology shifts and increased protectionism in its main markets. Global firms are shifting their budgets from traditional IT services to newer areas such as digital and cloud, which requires engineers to engage clients than work remotely. Also, low end maintenance work is increasingly automated forcing companies to shift them to other projects and reduce hiring from campuses. With growing stress on their business, IT firms are also increasing scrutiny on performance of employees and weed out non performers. Read this: Hero MotoCorp Q4 net falls 14% at Rs 718 cr over BS-III discounts ...

Board approves bonus issue in the ratio of 1:1; standalone net rises 20% on sequential basis Wipro , India's third largest software exporter said fourth quarter profits grew 0.4% to Rs 2,267 crore on revenues of Rs 13,987.5 crore, a jump of 2.6% The Bengaluru-based IT services firm said IT services revenue grew 2.7% over the previous quarter to $1.96 billion. For the fourth quarter, Wipro had projected growth between $1.9 billion-$1.94 billion or 1-2%. Read this: Wipro Q4 results out today: Five key things to watch out for Wipro has forecast its IT services revenue in the first quarter of the fiscal 2018 to be in the range of $1.92 billion to $1.96 billion. “We delivered revenues within the guidance range in our fourth quarter,” said Abidali Z Neemuchwala, Chief Executive Officer of Wipro. “We are confident that the recovery in Energy & Utilities and our demonstrated strength in Digital will help us improve our growth trajectory during the course of the c...

Analysts say the move is both soothing and disconcerting         The annual appraisal at  Cognizant   Technology Solutions this month came as a surprise to many. Not only was their performance under greater scrutiny, but at the end of the review process, as many as 10,000 employees are expected to be laid off. Many of them will lose their job to automation. Like others in the industry, Cognizant, too, has been trying to reinvent itself and focus on high-end projects that require specialised skills as traditional offshore contracts shrink. The Nasdaq-listed solutions provider has 262,200 employees, and, according to sources in the company, up to 2.5 per cent could lose their job, although employees think the number could be higher. Cognizant has been under pressure from investors to shore up margins. Investors want to see the company boost profitability, deliver growth and return cash to shareholders. Last month, Cognizant reached an agreement...