Search Result for : Infosys

The Dollar Business Bureau Vishal Sikka has resigned from his post as Managing Director (MD) and Chief Executive Officer (CEO) of Infosys on Friday. The IT bellwether has accepted his resignation during a board meeting held on August 18, the Indian IT major said in a press release.  In his resignation notice to the Infosys board, Sikka reiterated his confidence in the huge potential of the company, citing reasons that a constant stream of disruptions and distractions over the last few months and quarters, increasingly negative and personal as of late, were preventing the ability of management to speed up the company's transformation.  “After much reflection, I have concluded that it is indeed time for me to leave my current positions as MD ...

PTI Encouraged by Infosys' decision to set up a tech centre in his state and generate 2,000 jobs, Indiana Governor Eric Holcomb will lead a high- powered trade delegation to India later this year with the sole objective of attracting more Indian business, particularly IT companies. "I'm looking forward to travelling to India, probably in the fall, before the winter," Holcomb told PTI in an exclusive interview in his office at the State Capitol. Holcomb, who succeeded Vice President Mike Pence as Indiana governor, said he wanted to travel to India soon after his inauguration early this year but pressing engagements and now the summer prevented him from doing so. Holcomb, who would be the first Indiana governor ...

The Dollar Business Bureau As growth slows for India’s $150 billion IT industry, many IT majors have begun to lay-off mid and senior level employees to account for tapering revenue growth. The probable tightening of H1-B visas under Trump’s reign is also a strong motivator for companies to hire locally for projects based outside India. The global and domestic factors have together concocted a nightmare for IT professionals in India. As a result of automation and increasing use of bots, fruits of cutting edge research in machine learning and artificial intelligence, the IT industry is well poised to replace a huge chunk of its human capital with machines. The threat, which commentators have been worrying about for more than a decade, is ...

The Dollar Business Bureau  Software major Cognizant Technology Solutions said it would boost hiring in the US, a step that comes amidst President Donald Trump’s hard stance on curbing H1-B visa rules. The company registered a higher-than-expected profit in the last quarter. The New Jersey-based company gets over 75% of its revenues from North America and depends majorly on workers on H1-B visa for providing IT services to its clients. H1-B visa is a non-immigrant visa which allows US firms to temporarily hire foreign workers. Cognizant has around 260,000 employees, a majority of which are based in India. President Trump has ordered the review of the visa programme that brings highly-skilled international workers into the US, potentially impacting the hiring plans of tech companies and ...

The Dollar Business Bureau  The US government on Wednesday welcomed the move by IT major Infosys to employ 10,000 American workers in the coming two years, by stating that it was an outcome of the Trump administration’s “pro-growth economic agenda.” On Tuesday, Infosys had announced that it will set up 4 new centres in the US and hire 10,000 Americans in the coming two years as part of the company’s efforts to lessen the impact of the curbs on H1-B visa. Out of the four, the first innovation centre for newer technologies such as machine learning and artificial intelligence (AI) will be opened in August in the Midwestern US state of Indiana, also the home of Vice-President Mike Pence. The announcement by the IT giant is termed ...

The Dollar Business Bureau  A recent ‘Buy American, Hire American’ executive order from the Trump administration is the latest to cause flutters and bring jitters to the Indian IT sector, especially TCS, Cognizant and Infosys. The executive order brings to life, President Trump’s pre-election rhetoric of bringing jobs for Americans. A report made available on the White House website named TCS, Infy and Cognizant of indulging in unfair-practices to secure H1B visas. The press release remarked that these companies applied for more number of visas, under the lottery system for H1B, than they could get. This was done to gain a lion share of H1B visas. Furthermore, the release added that 80% of such workers were paid below the average while only ...

The Dollar Business Bureau The move by the Australian government to abolish the 457 visa for foreign workers would not have much impact on visas provided to Indian IT workers, said industry body National Association of Software and Services Companies (NASSCOM). “...it is a surprise and seems to be have been driven by domestic political compulsions where we are seeing immigration as a matter of huge political concern within the current geo political environment,” the industry body said in a statement on Wednesday. In order to tackle the rising unemployment, Australia has eliminated the 457 visa programme, which was used by more than 95,000 temporary international workers, with many of them being Indians. The Australian government will replace this visa with another programme by ...

The Dollar Business Bureau  Amidst fears of a stricter US Visa regime and an overhaul of the H1-B visa program, Indian IT bigwigs are to meet power-wielders in Washington DC later in February. The meet will underscore the ongoing 'economic partnership' being built between the two countries, alongside lobbying for a softer approach to alterations in the H1-B visa regime.  Trump's election promise of scrapping H1-B visa has shook India's largely export dependent IT sector, which gets 60% of its export business from USA. The special visa was incorporated for businesses in USA to hire foreign talent in the field of STEM (science, technology, engineering and mathematics). Since America faces a shortage of qualified people for such technical jobs, the program is mutually beneficial to both nations. The recent ...