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News on Medial
HCLTech, Xerox expand 15-year-old partnership
YourStory
·
12m ago
Medial
Indian IT company HCLTech has expanded its partnership with Xerox to assist in the company's transformation using AI and digital engineering. HCLTech will utilize its automation, engineering, and process operations services, along with its AI platform, to create a unified interface for employees and clients of Xerox. The goal is to improve business metrics such as working capital, device connectivity, and sales efficiency. The partnership between HCLTech and Xerox began in 2009 and has since resulted in numerous patents and the establishment of research and development labs.
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HCLTech completes acquisition of HPE assets for $225 million
Economic Times
·
8m ago
Medial
Indian IT services provider, HCLTech, has completed the acquisition of select assets of Communications Technology Group from Hewlett Packard Enterprise (HPE) for $225 million. This acquisition will strengthen HCLTech's engineering services capabilities, expand their global footprint, and extend their partnership with HPE. HCLTech will absorb around 1,500 engineering specialists and 700 contractors and gain a portfolio of service offerings, including industry-leading IP, solutions, and systems integration. HCLTech aims to enhance their partnerships with global Communication Service Providers, accelerate growth in digital services, and deliver value to clients.
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HCLTech extends collaboration with Intel Foundry to co-develop customised silicon solutions
Thehindubusinessline
·
1y ago
Medial
Indian IT services company HCL Technologies (HCLTech) has announced an expansion of its partnership with Intel Foundry to collaborate on developing customised silicon solutions. This collaboration aims to enhance foundry services worldwide and meet the growing demand for semiconductor manufacturing. HCLTech will combine its design expertise with Intel Foundry's technology and manufacturing capabilities to establish a resilient and diversified supply chain. The partnership will provide clients with a robust ecosystem for semiconductor sourcing, offering greater choice and flexibility. HCLTech has been working with Intel for over 30 years across various areas of collaboration.
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HCLTech to enhance operations for US energy supply firm Just Energy
Economic Times
·
2m ago
Medial
HCLTech announced a partnership with US-based Just Energy to enhance its operations and customer experience through digital process outsourcing and its generative AI platform. This move aims to boost efficiency across IT, finance, analytics, customer care, sales, and renewals functions. It's the second energy sector deal by HCLTech in a week, following collaboration with E.ON. The partnership aims to improve workforce collaboration and business process management, enhancing operational efficiency and service improvements.
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Tech layoffs in 2024: New Year off to a brutal start as Amazon, Google, others fire thousands
Economic Times
·
1y ago
Medial
In early 2024, amid economic challenges, tech and startup layoffs continue, with 48 companies cutting 7,528 jobs by January 15. Major players like Google and Amazon plan more layoffs to manage costs. Online rental platform Frontdesk initiated 2024's first layoffs, dismissing its 200-person workforce in a swift Google call. Notable layoffs in 2024 include Google, Amazon Audible, Amazon Prime Video, Amazon’s Twitch, Discord, Unity Software, and Xerox, indicating a potentially challenging year for the tech industry following 2023's massive job cuts.
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HCLTech’s first quarter net drops 10% YoY to Rs 3,843 crore, revenue up 8% - The Economic Times
Economic Times
·
1m ago
Medial
HCLTech reported a 9.7% year-on-year decline in net profit for the first quarter, amounting to Rs 3,843 crore, due to higher costs and a client bankruptcy impact. Despite a revenue increase of 8% to Rs 30,349 crore, margins fell to 16.3%. The company is optimistic about closing large deals delayed to the next quarter and has revised its revenue guidance for FY26. HCLTech plans to restructure operations and increase fresher hiring.
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Xerox plans to fire 3075 employees.
Livemint
·
1y ago
Medial
Xerox plans to reduce its workforce by 15% as part of a strategic initiative to introduce a new organizational structure and operating model. The company aims to target around 3,075 employees out of its current workforce of approximately 20,500. The move is aimed at improving and stabilizing its core print business while increasing productivity and efficiency through a new Global Business Services organization. Executive vice presidents Joanne Collins Smee and Tracey Koziol have already departed from the company.
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HCLTech extends partnership with Intel Foundry to co-develop customised silicon solutions semiconductor manufacturers
IndianStartupNews
·
1y ago
Medial
HCLTech has announced that it is extending its partnership with Intel Foundry to co-develop custom silicon solutions for semiconductor manufacturers, system OEMs, and cloud service providers. The collaboration aims to strengthen foundry services globally and establish a diversified supply chain. HCLTech's design capabilities will merge with Intel Foundry's technology and manufacturing expertise to drive innovation and offer a robust ecosystem for semiconductor sourcing. The partnership builds upon their shared investments in various domains and supports the goal of fostering a strong and open ecosystem.
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Tech layoffs in January 2024: CEO fires the whole company over 2-minute call; Google, Microsoft, Amazon continue layoffs; job cuts at TikTok, Flipkart, Swiggy, and others
Startup News FYI
·
1y ago
Medial
In January 2024, several tech companies implemented job cuts. Frontdesk fired all 200 employees during a two-minute call, Google laid off hundreds of staff across various divisions, Microsoft cut 1,900 jobs, Amazon announced layoffs in Audiobooks, Prime Video, and Twitch divisions, Xerox reduced its workforce by 15%, Unity Software cut 1,800 jobs, Discord laid off 17% of its employees, eBay cut 1,000 jobs, Flipkart laid off 1,000 employees, Swiggy laid off 400 employees, Riot Games cut 11% of its staff, TikTok laid off 60 workers, and Salesforce announced 700 job cuts.
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HCLTech partners with E.ON for cloud, AI-led transformation
Economic Times
·
2m ago
Medial
HCLTech has partnered with European energy company E.ON to aid in its cloud and AI-led transformation journey. This long-term collaboration involves building a new private cloud and managing E.ON's global cloud infrastructure to scale automation and enhance maturity using HCLTech’s AI Force platform. The partnership underscores HCLTech's commitment to driving innovation and efficiency in the Europe region while supporting E.ON's digital transformation and growth objectives.
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Microsoft's quarterly revenue is up 16% to $65.6 billion
Economic Times
·
9m ago
Medial
Microsoft reported Q3 financial results, with sales reaching $65.6 billion, up 16% from last year, and profit increasing to $24.7 billion, up 11%. These results exceeded expectations and reassured investors despite the company's heavy spending on AI. Microsoft spent $20 billion on capital expenditures, up 79% from last year, to expand its data centers for AI. The company's focus on AI, including its partnership with OpenAI, has helped stabilize Azure's growth, with around one-third of growth attributed to AI. Microsoft's overall Microsoft 365 commercial cloud revenue increased by 15%. Note: The article contains some additional information about legal disputes and investor concerns.
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