Fiscal year

Image Source : REUTERS TCS announces salary hikes: Up to 8% increase for Indian employees, 2-4% for international staff. As the end of March approaches, anticipation for annual appraisals builds up among employees. However, details regarding the expected salary hikes at Tata Consultancy Services (TCS) have surfaced online ahead of the official appraisal period. Sources…

IT major Infosys announced the termination of its $1.5 billion agreement with an undisclosed global company, focused on artificial intelligence (AI) solutions, signed in September.The Salil Parekh-led IT services giant had announced the $1.5 billion contract for a 15-year period, inked on September 14, 2023.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIIM LucknowIIML Executive Programme in FinTech, Banking & Applied Risk ManagementVisitMITMIT Technology Leadership and…

Eruditus, a provider of executive education programmes, has recorded a 63% increase in revenue for the year through June 30 and turned operationally profitable in the last quarter, its founder and chief executive told ET.Revenue rose to $400 million (around Rs 3,280 crore as per current exchange rates) in 2022-23 from $245 million the previous year, said Ashwin Damera. Eruditus follows a July-June fiscal year.Damera did not disclose the operating profit — earnings before interest, tax, depreciation and amortisation…

India’s second largest IT firm Infosys is on a “solid foundation” to grow on back of large deals bagged in the fiscal year ended 2023, the company’s non-executive chairman Nandan Nilekani said.“We had 95 large deals valued at $9.8 billion for the year, of which 40% were net new (deals). This promises a solid foundation to grow and build resilience in the months to come,” said Nilekani while speaking at the 42nd annual general meeting of the IT major on Thursday.He said the Bengaluru-based firm’s capability to harness…

India’s largest stock broker Zerodha’s founder & CEO Nithin Kamath expects the firm's revenue and profits to expand by one-fifth in the year ended March 31, 2023. But if recessionary trends and market volatility, triggered by geopolitical instability continue, the company’s revenue could fall 40% by the end of FY24, Kamath told ET. This and more in today’s ETtech Morning Dispatch.Also in this letter:■ Venture fund activity picking up in generative AI space■ Regulating competition issues of IT companies: experts point…

As executives in the tech world are looking to sharpen their talent as well as diversify their skill sets amid large-scale layoffs, upskilling startups are confident of growing their businesses this year. Edtech firms at the same time remain in dire straits post-Covid. Also in this letter:■ Startups collective mulls legal steps against Google’s new payment policy■ India a ‘bright spot’ while the world is in turmoil: SAP CEO Christian Klein■ In 2022, online shopping increased despite rising footfalls offline: study…

HP announced the layoffs in its Q4 and 2022 fiscal year earnings report, published Tuesday. Image: Justin Sullivan (Getty Images)A tidal wave of layoffs continues to plague tech companies worldwide, and HP Inc. is the next titan to fall on its sword. In reporting its Q4 and fiscal year results yesterday, the company also announced that it was reducing its workforce by up to 6,000 people by the end of their 2025 fiscal year.The layoffs come as part of a broader restructuring plan called the Future Ready Transformation plan…