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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 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 Amid increasing concerns over the possible restrictions on H1B visas, Wipro chairman Azim Premji met IT Minister Ravi Shankar Prasad to discuss visa and its involvement in the Indian IT industry. Prasad assured Premji that India has been in constant touch with the US administration, requesting them to consider bilateral trade and investment relations between the two countries. Last week, Indian foreign secretary S Jaishankar met senior officials of Trump administration in the US last week to discuss India’s concerns over a possible overhaul in H1B visa norms. Jaishankar said the US’ main priorities are illegal immigration, not H1B visa norms. He suggested that the US should instead focus on augmenting bilateral trade and investment relations. The United States Citizenship ...

The Dollar Business Bureau  Industry body NASSCOM has revised the growth forecast for India’s information technology (IT) industry to 8-10% this year, as its largest members such as Tata Consultancy Services (TCS), Wipro, Infosys and Cognizant are struggling to grow faster due to an uncertain environment.  This is the second time that the software industry body has estimated a single-digit growth in last 10 years after the industry witnesses its lowest growth of 5% in the fiscal of 2009-10 as a result of the banking meltdown in the United States.  In April, NASSCOM (National Association of Software and Services Companies) had estimated the $108-billion export-oriented software and back office sector to have a growth rate of 10-12% this year. “The industry is going through a transient phase with various ...

The Dollar Business Bureau US-based Tribune Publishing Company would outsource a part of its information technology jobs to Indian firm Tata Consultancy Services (TCS), according to a report released by Computer World. Though the publisher has informed its IT workforce in April that it is outsourcing work to TCS, it did not reveal the number of employees that could be affected by this plan. The dismissals may take place in summer or autumn season. TCS is likely to offer jobs to some of the employees, the report said. Tribune Publishing Company’s IT employees have received the warning of outsourcing in the previous year-end itself. The employees were informed that the publishing unit will be going to outsource its IT jobs during the next ...

The Dollar Business Bureau Wipro Arabia Limited, Saudi Aramco and Princess Nourah University (PNU) on Monday inaugurated the Women Business Park - first all women business park in Saudi Arabia. The project is likely to generate almost 21,000 jobs for Saudi women over a period of 10 years. The agreement joint venture between the three companies was signed at a ceremony held at PNU. Dr. Huda Al-Ameel, Rector of Princess Nourah University said that the aim of the Business Park is to generate 21,000 jobs by 2025 and provide women to play a crucial role in a manner that serves the goals of the country and to create a knowledge economy with partnerships from society and international organisations. “Our goal is to offer an initial eco-system to ...

Source: PTI India's major software services firm Wipro will set up a BPO centre in Saudi Arabia, which will be the second such facility after an all-women technology services centre of Tata Consultancy Services (TCS). Prime Minister Narendra Modi on Sunday visited the TCS centre, first such facility to have only women employees. The Prime Minister was accorded a very warm welcome at the centre by the employees belonging to 17 countries of the region. "Wipro is following suit. It is establishing a major BPO centre in Saudi Arabia," Secretary (Economic Relations) in the Ministry of External Affairs, Amar Sinha told reporters in Riyadh. It is not known whether Wipro will have an all-women centre.