Topic
it services
Technology Indian IT sector's fresher hiring crisis deepens as AI reshapes demand for talent
India's IT sector is drastically cutting fresher hiring, with delayed onboarding and a shift toward AI, data, and cybersecurity skills. Freshers now account for just 15% of hiring, down from 28% a few years ago, as companies prioritise demand-led, skill-based recruitment over volume-driven campus intakes.
Business Wipro Q1 Revenue Falls 1.4% to $2.6 Billion, Trails Peers Amid AI-Led Spending Shift
Wipro's June-quarter revenue declined 1.4% sequentially to $2.6 billion, missing the performance of larger peers TCS and HCLTech. Operating margin fell 130 basis points to 16% due to wage hikes and AI investments. CEO Srini Pallia said clients are shifting IT budgets toward AI, lengthening decision cycles and reducing discretionary spending.
Technology HCLTech wins $1.1bn AI-led deal with Mercedes for digital workplace transformation
HCLTech has won a $1.1 billion AI-led deal with Mercedes-Benz to establish an AI-driven operating model for the automaker's global digital workplace and enterprise network operations. The agreement runs from July 2026 through December 2031, with an option to extend five more years. Infosys previously handled parts of the engagement.
Business Wipro raises Aggne stake to 80% with $2.1 million investment to strengthen insurance technology business
Wipro has raised its ownership stake in insurance technology company Aggne to 80%, investing $2.1 million in the process. The acquisition deepens Wipro's presence in the insurance tech sector.
Technology TCS Will Have as Many AI Agents as Employees, Says Chairman Chandrasekaran
Tata Consultancy Services chairman N Chandrasekaran announced at the company's 31st AGM that AI agents will eventually match the number of human employees, marking a structural shift in IT hiring. He identified five growth areas including AI deployment in warehouses and supply chains. Separately, Paytm plans to hire 4,000 employees while trimming 1% of its workforce.