Infosys puts a break on fresher hiring, relying more on experienced hands

Share of young engineers in 18-25 age group drops to 28% in FY18, senior staff ratio goes up

India’s second-largest information technology company, Infosys, is relying more on experienced hands than fresh graduates even though it weighs to its costs, according to the company’s latest annual report. This is happening when the sector is witnessing slower growth with increasing pressure on profit margins.

According to the latest annual report for 2017-18, the percentage of the Bengaluru-headquartered company’s employees in the age group of 18-25, came down to 28.16 per cent, from 31.19 per cent in the previous financial year. In absolute terms, the number of employees in this group was 57,475, against 62,489 in FY17. Employees in this group largely constitute of newly-hired engineers from colleges.

The percentage of employees above this age group had gone up during this period. For example, employees in the age group of 26-30 constituted 32.25 per cent of the total staff strength in FY18, against 32.09 per cent in the previous year. Similarly, mid-level employees in the age group of 31-40, constituted 32.5 per cent, which rose 168 basis points over the previous financial year. The ratio of employees in the 41-50 age group also saw a rise of 100 basis points over the previous financial year to 5.92 per cent. However, despite the higher ratio of experienced staff in workforce, Infosys incurred only 3.6 per cent rise in expenses towards salaries and bonus in FY18 to Rs 346.7 billion.

The change in Infosys’s employee mix also reflects the growing trend of slower fresher hiring by Indian IT firms, expected to gain pace in the current financial year as well. Owing to uncertain demand environment and changes in client demands, Indian IT companies are hiring fewer number of freshers while majority of them are resorting to just-in-time hiring in case of lateral (experienced ones).

“The intake of fresh engineers by Indian IT firms is certainly going to drop further as companies are seen steadily improving their (employee) utilisation rates. While they are no more hiring in bulk through campus recruitment programmes, the normal attrition in higher age groups is also less owing to lesser avenues outside which means the ratio of senior staff that the sector employs will go up,” said Kris Lakshmikanth, chief executive officer & managing director of Head Hunters India.

Infosys said the percentage of senior management level employees in the age group of 51-60 was 1.03 per cent, against 0.90 per cent in FY17.

Employees above 60 years of age constituted 0.19 per cent of the overall strength, which was at 0.14 per cent in the previous financial year.

Now, read while you bathe: Amazon launches water-proof Kindle at Rs 21,999

With 7-inch 300 ppi display, the device fits over 30 per cent more words per page and it has the fastest page turns of any Kindle

Amazon on Thursday launched its most advanced e-book reader 'Kindle Oasis' that features company's highest-resolution 'Paperwhite Display' and is the first waterproof (IPX8) device.

The all-new Kindle Oasis is available for pre-order for Rs 21,999 for the 8GB model and Rs 28,999 for the 32GB model (WiFi + free 3G). The device will start shipping from November 13.

'Kindle Oasis' has a battery life measured in weeks and has fast-charging capability that allows it to go from zero to fully-charged in less than two hours.

"Ten years ago, we introduced our first Kindle with the mission of delivering any book every written in 60 seconds or less," said Dave Limp, Senior Vice President, Amazon water-proof Kindle Devices, in a statement.

"With a larger 7-inch, 300 ppi display, waterproof design, the all-new 'Kindle Oasis' is our most advanced Kindle ever. Its thin, light, and waterproof design allows readers to stay engaged in the author's world in even more ways and places than ever before," added Limp.

With 7-inch 300 ppi display, the device fits over 30 per cent more words per page and it has the fastest page turns of any Kindle.

The crisp and laser-quality text reads like paper with uniform display lighting and no glare, even in bright sunlight.

It has a 3.4mm display that features strongest cover glass and a new aluminium back. 'Kindle Oasis' can be immersed in up to two meters of fresh water for up to 60 minutes.

Customers can also buy covers that open like a book, automatically waking the device when opened and putting it to sleep when closed.

The water-safe fabric covers can be purchased for Rs 2,999 and come in indigo, charcoal and sandstone colours. The premium leather covers are available for Rs 3,999 and come in black ad merlot.

Indian IT firms to generate fewer jobs in next 6 months: Report

Professionals asked to upskill themselves as the industry gradually turns to automation

Indian IT services companies would create fewer jobs over the next couple of quarters as more companies are focusing on shifting towards digital technologies, said a survey report released by human resource firm ManpowerGroup on Tuesday.

The report, Experis IT Employment Outlook Survey, stated that 50 per cent of the IT services companies expressed their interest to hire people during the period between October 2017 and March 2018, since the industry is re-inventing itself to automate a lot of processes using artificial intelligence and machine-learning technology.

In fact, the survey report said India would see pink slips being handed over to an increased number of senior-level professionals across Indian IT firms, on account of digitisation and a surge in recruitment of junior and mid-level professionals.

A slower job growth in the $154-billion services industry is, however, in stark contrast to other sectors in the country and captive IT units of global businesses will hire more people during this period, said the report, which surveyed around 500 Indian IT employers.

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The industry has been witnessing a slowdown in traditional software maintenance services- a segment that has been acting as a core revenue generator for nearly three decades now. The slowdown was attributed to the increased demand of digital technology-based services on the part of the businesses.

“Net layoffs that are being contemplated by the IT giants are way higher than what the Indian IT industry has ever witnessed and this trend is likely to continue for the next 6-12 months,” said ManpowerGroup India.

IT professionals should look for opportunities to upskill themselves during this period, noted the report.

“Today technologies continue to rapidly shape the business landscape. A rise in new enabling technologies, such as software as a service (SaaS) offerings and cloud-based enterprise resource planning (ERP) software, along with artificial intelligence’s (AI) unprecedented speed, accuracy and cost efficiency are significant in terms of maintaining a competitive edge that are driving businesses now. (more)

Wipro Q4 consolidated net rises marginally to Rs 2,267 cr

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%.

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.

Read more : TCS, Infosys got only 8.8% of total H-1B visas: Nasscom's rebuttal to US

“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 current financial year.”

Wipro's larger rivals Infosys and TCS too faced business and currency challenges in the quarter.

The company board approved bonus issue in the ratio of 1:1.

Standalone net profit jumped 20% to Rs 2,303 crore sequentially as compared to Rs 1,918 crore in December quarter. (more)

Ashwin and Virat Kohli honoured in BCCI Awards 2017

Virat Kohli with team mates during the BCCI Annual awards in Bengaluru

Kohli won the Polly Umrigar award for best international player of 2015/16, becoming the first player to get the award three times.

Engineer urged everyone to know and respect the contributions made by Pataudi to Indian cricket, saying that the Tiger was "still a world-class player despite losing one eye".

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Ashwin wins the CK Nayudu award for his performance in the West Indies in 2016. He picked up 17 wickets in four Tests, including a haul of 7/83 in North Sound.

Ajinkiya Rahane with wife during the BCCI Annual awards in Bengaluru

Sharmila Tagore with daughter Saba pose during the BCCI Annual awards in Bengaluru

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Apple to start India manufacturing in coming months with iPhone SE: Report

Apple's move comes as it seeks to boost its share in the world's fastest growing major mobile market

Apple Inc will in the coming months start assembling its lower-priced iPhone SE models at a contract manufacturer's plant in the technology hub of Bengaluru, an industry source with direct knowledge of the matter said on Friday.

Apple's Taiwanese manufacturing partner Wistron Corp is setting up a plant in Bengaluru to focus solely on assembling iPhones, a separate source told Reuters earlier this month.

Apple's move comes as it seeks to boost its share in the world's fastest growing major mobile market, where handsets far cheaper than Apple's iPhones dominate. It also comes as smartphone sales growth is slowing in Asia's other massive market, China.

To lower prices, Apple has been seeking to set up local production and has been in talks with the Indian federal government regarding issues such as tax concessions.

The industry source told Reuters the initial manufacturing of the iPhone SE model was not contingent on those concessions.

Apple did not immediately respond to a request for comment.

The Economic Times newspaper earlier on Friday reported Apple planned to initially assemble 300,000 to 400,000 iPhone SE handsets in India. The industry source told Reuters the numbers would be substantially lower to begin with.

The source also said it was too early to say what other phone models Apple would assemble at the Bengaluru plant. Read more

Flipkart's largest unit posts hefty revenue growth, cuts losses

Any reduction in losses could mean the return of investor confidence, something Flipkart needs badly

Breaking News : Flipkart India Pvt Ltd, the largest unit of India's biggest e-commerce marketplace, was able to increase revenues by 43 per cent and cut losses by over 34 per cent in the financial year 2015-16 as investors began to mount pressure to see tangible results.

The Flipkart unit posted a revenue of Rs 13,177 crore for the 12 months that ended March 2016, compared to the Rs 9,226 crore in revenue it posted in the year ago period. Losses shrunk to Rs 544.6 crore, from Rs 826.7 crore in the corresponding periods, according to regulatory documents filed by the company.

While losses for its cash-and-carry business were down, it was offset by the higher losses posted by Flipkart's marketplace arm, bringing the total loss of the company to Rs 2,850 crore. The combined revenue for the two units stood at Rs 15,129 crore for the financial year.

Flipkart has set up a complex holding structure, with several entities listed in Singapore, making it hard to ascertain the exact revenue and loss figures.

Despite hefty growth in revenues in the previous financial year, investors continued to punish Flipkart's valuation. After a series of markdowns by mutual fund investors, Morgan Stanley set a valuation of just $5.58 billion for the three months that ended September. Flipkart had enjoyed a peak valuation of $15.2 billion, making it among the top valued start-ups in the world.Read more.

Now pay for fuel, LPG at Bharat Petroleum pumps using Ola Money

Driver partners and consumers will be able to pay for their fuel and LPG requirements with Ola Money

Breaking News : Ola Money, the digital payment solution from Ola, will be accepted at Bharat Petroleum Corporation Limited (BPCL) fuel pumps and LPG distributors across the country, the company announced on Monday.

Acceptance of Ola Money in a prominent public utility such as BPCL is another step by Ola towards supporting the government's vision of a cashless 'Digital India', Ola Money Senior Vice-President Pallav Singh said in a statement here.

With the increased recharge limit on wallets from Rs 10,000 to Rs 20,000 until December 30, Ola Money is better positioned to facilitate convenient cashless transactions for citizens and merchants alike, the statement said.

With over 13,000 fuel stations and close to 4,500 LPG outlets, BPCL serves lakhs of people on a daily basis, it added. Read more.

Read our full coverage on Demonetisation

IT hiring at 10-year low, Infosys takes campus hires as interns

They'll be paid a stipend and assessed before taken on payrolls as it faces worst growth in a decade

Breaking News : India’s second largest software exporter Infosys Ltd is offering paid internship to campus hires before taking them on rolls, a move that that would impact new jobs across the IT sector when hiring by technology services companies is already at a ten-year low.

The Indian technology services sector is facing its worst growth period in close to a decade as they see clients reducing budgets on traditional outsourcing work, which is not being offset by growth in newer areas such as digital and cloud. In addition, routine maintenance work of customer applications or IT infrastructure, where freshers are normally deployed have been taken over by automation or robots.

With use of automation, these companies are shifting their employees from projects, where their jobs have become redundant and training them on skills to match new requirements. Infosys and its cross town rival Wipro shifted more than 8000 employees from projects to other roles due to automation during the first half of this fiscal.

“It was a surprise for us that they came with the internship roles before taking our students as trainees,” says a placement head of a college, who did not want to be named. “The job market this year has been bad. We agreed to it as we have no option.”

Infosys, among the pioneers to reach out to campuses through its Campus Connect programme says it provides a limited number of internships to students as they serve as an attractive proposition for potential employees. Read more about hiring by Top 5 IT Firms.

Facing sedition charge, Cong leader Ramya refuses to apologise for Pak comment

Facing sedition charge, Cong leader Ramya refuses to apologise for Pak comment

The Kannada actor and Congress member Ramya, who is accused of sedition over her remarks of praising the people of Pakistan after a recent visit, said on Tuesday that there is “no question of apologising.”

She said, "BJP will not do anything to repeal the law, because they are using it to their advantage", Congress leader Ramya on Tuesday refused to apologise for her statement that "Pakistan is a good country, not hell."

The 33-year-old Divya Spandana visited Islamabad to attend Saarc Young Parliamentarians Conference, responded to Defence Minister Manohar Parrikar’s statement, “Going to Pakistan is like going to hell,” with “Pakistan is not hell, people there are just like us. They treated us very well.”

She made the remarks during a rally in her former constituency Mandya, saying how the people of Pakistan went out of their way on making her stay and comfortable after they got to know that she is from India.

Her comments outraged K Vittal Gowda, an advocate from Karnataka, who lodged a “sedition case” in Kodagu in southern Karnataka, around 250 km from state capital Bengaluru.(more)

Swachh Bharat, Skill India 'transformative' schemes: Pranab Mukherjee Edit

Swachh Bharat, Skill India 'transformative' schemes: Pranab Mukherjee

President Pranab Mukherjee on Sunday hailed the Narendra Modi government's initiatives like Digital India,Swachh Bharat and Skill India as "transformative in nature".

"President of India President Mukherjee believes these programmes are transformative in nature and their successful implementation will alter the landscape of the country," said a reply on Facebook live chat from the President's page, where a question and answer session was organised on the eve of his four years in office.

The replies were made by Venu Rajamony, Press Secretary to the President.

Mukherjee urged Indians to dedicate themselves to the service of the nation.

"Citizens of India should dedicate themselves to the cause of the nation and society through constructive contribution to these programmes in every possible manner," he said in reply to one question.

The President also stressed the importance of teachers, saying: "Teachers are like the soft and skillful hands of a potter. They mould the destiny of thousands of students, in turn shaping the future of a nation."

In another reply, it was said that he "loves teaching and remembers his days as a teacher fondly".

Mukherjee was a teacher in Suri Vidyasagar College of West Bengal before joining politics.

However, the live chat evoked a lukewarm response from some net-savvy citizens who said very casual and "easy" kinds of questions were asked.(more)

Bengaluru pips Tokyo, Tel Aviv in list of innovation hubs

Bengaluru pips Tokyo, Tel Aviv in list of innovation hubs

India has emerged as a new innovation ‘empire’ of choice by global corporates. Bengaluru - the information technology and start-up hub – has surpassed many global cities as a preferred destination for innovation centres, according to Capgemini’s study on ‘Innovation Empire’.

Bengaluru that has emerged as the fifth most preferred location for housing innovation centres, overtook Tokyo, Shanghai, Berlin, Tel Aviv, Munich and Chicago, said the report titled ‘Digital Dynasties: The Rise of Innovation Empires Worldwide’. In the previous report that captured data until July 2015, Bengaluru did not figure in the list of top 10 cities.

The report said Silicon Valley was no longer the hub for corporate innovation, as global enterprises were seeking talent pools beyond established hubs.

Between July 2015 and February 2016, four global enterprises set up their innovation centres in Bengaluru, the highest in Asia. During the same period, the number of innovation centres set up in Silicon Valley and London were five and four, respectively, the report added.

Among the companies to set up their innovation centres in Bengaluru are Airbus’ BizLab and Visa, whose new technology centre aims to house 1,000 developers, accelerating development of next-generation payment solutions.

Other than global corporates opening up more innovation hubs in Bengaluru, the city also hosts several billion-dollar Indian start-ups like Flipkart, InMobi and Mu Sigma, and attracts world-class technology, talent and investments.

Read more.

Movies & cricket serious business for Apple CEO Tim Cook's future India plans

Apple chief Executive Officer Tim Cook's visit to India, mixing plenty of leisure with work, has set off comparisons with other tech giants.

Facebook founder Mark Zuckerberg's trips to the country in 2014 and 2015 lasted for about two days. Microsoft chief Satya Nadella will come at the end of this month only for a day, the same as the duration of his previous official visit in November 2015.

Google's Sundar Pichai was in the country for two days last year. Bill Gates' first visit as the CEO of Microsoft in 1997 was short - barely two days.

Apart from limiting the number of days in an official visit to two or three, CEOs of large multinational corporations have mostly stuck to business on such trips - meeting business and political leaders, interacting with students on college campuses, and doing big-ticket launches.

Perhaps, Amazon founder Jeff Bezos was a little out of the box as he went on a road show in a supply truck wearing a sherwani and waving a $2-billion note (that's the investment committed in the India market so far) in Bengaluru in September 2014. Bezos also spent almost a week in the country. But while onlookers may wonder how Cook had the time to experience even cricket and Bollywood, travelling thousands of kilometres within the country, those in the know pointed out it was more about business than just fun for the American tech giant executives.

If Apple is to stay in India, surely cricket and Bollywood cannot be ignored, seems to have been the thought behind Cook's just-concluded visit.

"He came to India with a very serious road map. Bollywood and cricket were surely on his mind for future business prospects," said film-maker Mukesh Bhatt, who was one of the people to interact with Cook when he was in Mumbai.

He said Cook spoke to everyone on the sets of Raaz Reboot, a film produced by brothers Mahesh Bhatt and Mukesh Bhatt, with humility and like an ordinary man. "He was moved to see that Apple devices were being used in the shoot."

Read More.