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Infosys issues offer letters to 1,000 freshers of 2022 batch after 2.5 years delay, says NITES | Mint
Livemint
·
11m ago
Medial
Approximately 2.5 years after being selected, Infosys has finally issued over 1,000 offer letters to campus hires from 2022. The joining date is set for October 7, 2024. The delay resulted in a complaint by IT employee union NITES against Infosys, but the company's CEO, Salil Parekh, confirmed that all offers would be honored with possible adjustments to the joining dates. The candidates had expressed concerns about the long pre-training sessions and assessments, but now they have a confirmed joining date. The roles offered were System Engineers with a salary of ₹3.6 lakh per annum and Digital Specialist Engineers with a salary of ₹6.5 lakh per annum.
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Labour Ministry directs Karnataka to investigate delay in fresher onboarding at Infosys
Economic Times
·
11m ago
Medial
The Ministry of Labour and Employment has directed the Karnataka State Labour Commissioner's Office to take action after receiving a complaint from IT union NITES regarding delayed onboarding by Infosys. The union had filed a complaint against Infosys for the delayed onboarding and "unprofessional treatment" of over 2,000 engineering graduates. Infosys has started sending joining dates to impacted graduates and has already sent out more than 1,000 appointment letters this week. The company is expecting to send appointment letters to everyone waiting to onboard by December, as it is experiencing a better demand environment.
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Dates changed but everyone with offer will join: Infosys CEO on 2022 batch onboarding delays
YourStory
·
11m ago
Medial
Infosys CEO Salil Parekh has assured that the company will honor the offers made to freshers and they will be allowed to join, although there might be some changes in the dates. This statement comes in light of reports suggesting a delay in the onboarding of 2,000 fresh engineering graduates. Nascent Information Technology Employees Senate (NITES) recently filed a complaint against Infosys, alleging delays and unpaid pre-training programs for these graduates. However, Parekh emphasized that every offer will be fulfilled and there is no change in the company's approach. Infosys currently has an employee base of 315,332 as of June 2024.
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10,000 freshers from major IT firms Infosys, Wipro & TCS await onboarding
Livemint
·
1y ago
Medial
Around 10,000 freshers offered jobs in the past two years by major IndianIT companies like TCS, Infosys, and Wipro are facing delays in the onboarding process, according to the IT employee union Nascent Information Technology Employees Senate (NITES). This delay is primarily due to business uncertainty in North America and Europe, resulting in a cautious approach towards IT expenditures by clients. The IT sector has also witnessed a decrease in employee headcount, with TCS, Infosys, and Wipro reporting declines in their total workforce for the fiscal year 2023-24.
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Salary hikes coming! Infosys workers may get pay bumps from February, says report | Company Business News
Livemint
·
6m ago
Medial
Infosys employees are expected to receive salary hike letters in February 2025 for the September 2022 to October 2023 period. Employees at job level five and below, like software engineers and consultants, will get raises effective January 1, 2025. Those at level six and above will receive their letters in March, effective April. This follows an announcement in October about hikes occurring in two phases. Infosys usually provides annual hikes in June, but this was paused in 2024.
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Mysuru layoffs: NITES threatens protest; Infosys says testing norms communicated to trainees
YourStory
·
5m ago
Medial
Infosys faced criticism after laying off over 300 trainees who failed internal tests at its Mysuru campus. The IT workers’ union NITES threatened protests if the government doesn't act against the perceived injustice. Infosys maintains that performance assessments were clearly communicated as part of their training program, which is globally recognized. They provided severance pay and support to affected trainees. NITES insists on accountability and justice, considering the layoffs unfair and threatening protests if ignored.
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Infosys to recruit up to 20,000 fresh graduates in FY25; CFO says employee utilisation rate at 85%: Report | Mint
Livemint
·
1y ago
Medial
Indian IT company Infosys plans to hire between 15,000 to 20,000 fresh college graduates in the 2024-2025 financial year. Despite a challenging job market, the move highlights their intent to continue expanding their workforce. In the previous financial year, Infosys hired 76% fewer freshers. The company has adopted an agile hiring strategy, conducting recruitments both on and off-campus. Rival company Tata Consultancy Services (TCS) also plans to recruit nearly 40,000 fresh graduates in the same financial year. Infosys experienced a decrease in employee strength, yet saw an increase in net profit and revenue in Q1FY25.
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Infosys tweaks hiring process, not to send job offer letters via email; here’s the reason | Mint
Livemint
·
9m ago
Medial
- Infosys has implemented a new recruitment process that requires new hires to access job details through the company's internal system rather than receiving email offers. - The purpose of this new process is to prevent fraudulent recruitment practices and improve the recruitment experience for job seekers. - Instead of receiving job offers and attachments via email, new recruits will have to log into Infosys' internal system to access their job application details. - The company's career website now displays a notice informing candidates that offer letters and associated documents are only available on the career site, and they no longer send emails with attached offer letters. - Infosys has expanded its partnership with Microsoft to drive global customer adoption of generative AI and Microsoft's cloud platform Azure, with the goal of delivering innovative solutions and enabling unprecedented innovation for customers.
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Nvidia’s new AI chip delayed due to design flaws, says report | Mint
Livemint
·
1y ago
Medial
Nvidia's upcoming AI chips are facing a delay of at least three months due to design flaws, impacting customers such as Meta, Google, and Microsoft. The delay was reported by sources indicating that shipments aren't expected until Q1 2025. While Nvidia did not comment on the delay, they reassured that production is on track. In other news, Nvidia's market value surged by $329 billion, aided by expectations of high demand for its processors after Microsoft reported increased AI expenditures. Rival chipmakers Intel and AMD are also trying to catch up in the AI chip race.
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Byju’s says it will file much-delayed financial results this week
Economic Times
·
1y ago
Medial
Byju's, the troubled edtech startup, has announced that it will finally report its financial results for the year through March 2022 after a prolonged delay. The company recently completed an audit of all its units, which will be incorporated into its consolidated results. Shareholders have been growing impatient with the delay, leading to scrutiny from regulators and the resignation of the company's auditor. Byju's is also currently locked in a conflict with creditors over a missed interest payment on a term loan, and is reportedly looking to sell off assets to generate cash.
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Infosys says DGGI withdraws tax demand of ₹3,898 crore for FY18 | Mint
Livemint
·
1y ago
Medial
Infosys has announced that the Directorate General of GST Intelligence (DGGI) has withdrawn a tax demand of INR 3,898 crore for the financial year ending March 2018. This decision provides partial relief to the Indian software company, as the ongoing tax battle remains unresolved. Another tax demand of INR 28,505 crore from the remaining five years is still pending. The withdrawal suggests a potential early resolution of the matter, as the government is said to be considering Infosys' plea that GST does not apply to services provided by its overseas branches.
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