Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li>Salil Parekh’s induction into the post of Infosys CEO was supposed to mark a ‘fresh start’ for the company. </li><li>He is currently being accused of ‘unethical practices’ like reporting higher profits and revenues — and hiding it.</li><li>When he was brought on board in 2018, he was given more than $5 billion in cash to make large margin acquisition for Infosys.</li></ul>Salil Parekh was named the CEO of Infosys just in January last year was supposed to mark a ‘fresh start’ for the company after massive layoffs in 2017. In fact, he beat out internal candidates and former executives as he rose from being a business manager at Capgemini to the CEO of one of the biggest tech companies in india. Come 2019, Parekh’s being accused of ‘unethical’ practices like misreporting higher profits and revenues by a group of whistleblowers. The allegations against him also include overlooking reviews and approvals to secure larger deals. Here's a quick look at Parekh's story since he became CEO:

The Infosys clean-up under Salil Parekh seems to have come a full circle within 2 years

BANGALORE: This is perhaps a first for any major company in India. A former CEO and a former CFO of <keyword id="6354512" type="CITY" weightage="80" keywordseo="Infosys">Infosys</keyword> will contest the coming general elections — <keyword id="44604" type="PERSON" weightage="40" keywordseo="Nandan-Nilekani">Nandan Nilekani</keyword> for <keyword id="1575" type="ORGANIZATION" weightage="40" keywordseo="Congress">Congress</keyword> from South Bangalore, and V Balakrishnan for <keyword id="6354944" type="ORGANIZATION" weightage="40" keywordseo="Aam-Aadmi-Party">Aam Aadmi Party</keyword> (AAP) from Central Bangalore. 
 Coincidence? Not entirely, said <keyword id="1040732" type="UNKNOWN" weightage="40" keywordseo="Priya-Chetty-Rajagopal">Priya Chetty-Rajagopal</keyword>, executive director in RGF Executive Search. “The Infosys story is about possibilities, about dreams, conviction, integrity, and the success that knowledge can bring. Both (Nandan and Bala) come from that golden time when anything was possible, and perhaps there is a connection in what both plan to do,” she said. 
 Management consultant <keyword id="175362" type="PERSON" weightage="40" keywordseo="Harish-Bijoor">Harish Bijoor</keyword> believes that Infosys is an eco-system of excellence. Rajagopal pointed out that Infosys has had a particularly strong reputation of leaders w<keyword id="6354185" type="ENTERTAINMENT" weightage="40" keywordseo="IT">it</keyword>h a public or philanthropic <keyword id="819560" type="PERSON" weightage="40" keywordseo="bent">bent</keyword>, be it <keyword id="170488" type="POSITION" weightage="40" keywordseo="co-founder">co-founder</keyword> N R Narayana Murthy or Nilekani (he played a key role in BATF — <keyword id="772065" type="ORGANIZATION" weightage="40" keywordseo="Bangalore-Agenda-Task-Force">Bangalore Agenda Task Force</keyword> in the early 2000s), or TV Mohandas Pai (former CFO and HR head who has been very active in public spaces). 
 
“It’s a part of their ethic, it seems. They have high believability, authenticity, and realize if they are true to themselves, people will listen, and they can grow collectively,” she said. 
 The industry is delighted at the turn of events. “It’s good to see high-profile corporate leaders opting for political careers,” said <keyword id="6413985" type="PERSON" weightage="40" keywordseo="Kiran-Mazumdar-Shaw">Kiran Mazumdar-Shaw</keyword>, CMD of Biocon. Som Mittal, former president of IT industry body <keyword id="6372077" type="CITY" weightage="40" keywordseo="Nasscom">Nasscom</keyword>, said the country needs a new breed of people, including technocrats, in government and opposition.

Why Two Ex-Infosys Bosses Took The Poll Plunge

<keyword id="6354512" type="CITY" weightage="80" keywordseo="Infosys">Infosys</keyword> is all set to get a new Chairman in place of <keyword id="396965" type="ORGANIZATION" weightage="80" keywordseo="KV-Kamath">KV Kamath</keyword>, who is taking over the new role as president of BRICS Bank. 
 
On the condition of anonymity, two people familiar with the development said that while Infosys would evaluate external and internal candidates to replace Kamath, it was expected that the conglomerate would name board member R Seshasayee as interim non-executive chairman. 
 
They added that name of the successor would be finalised within two to three weeks. 
 
Economic Times first reported that Infosys had begun hunting for its next chairman and may appoint either Seshasayee, executive vice chairman at Ashok Leyland, or former Microsoft India chairman Ravi Venkatesan as interim chairman to oversee the transition. 
 
Seshasayee, who started his career with Hindustan Lever in 1971 and joined Ashok Leyland in 1976, joined Infosys' board in 2011. He became executive director of Ashok Leyland in 1983 and managing director in 1998. He has also been the chairman of IndusInd Bank since 2007. 
 
"Seshasayee is the most likely candidate to be selected as interim non-executive chairman, given his experience and the fact that he is among the senior-most people on the board," one of the sources told ET. 
 
The person added that it was likely that Infosys would opt for an interim non-executive chairman for now. “Ideally the company would like to have a chairman in place before the AGM (on June 22)," this person said. 
 
Infosys' nominations committee, which identifies and evaluates candidates for various director positions, has the authority to identify and evaluate candidates to replace Kamath. 
 
Besides Kamath, the committee includes board veteran Jeffrey Sean Lehman, Biocon founder Kiran Mazumdar-Shaw and Seshasayee. Technically, a member of the nominations committee can be considered for the position of chairman, the sources said. 
 
Sources told the financial daily that chief executive Vishal Sikka along with Kamath will also explore appointing an external candidate as the next chairman. 
 "Infosys ideally wants the next chairman to have a profile similar to founder NR <keyword id="6355623" type="PERSON" weightage="80" keywordseo="Narayana-Murthy">Narayana Murthy</keyword> or Kamath. That person could come either from within the board or outside Infosys," the second source told ET. 
 
Kamath helped ICICI Bank become a savvy, next-generation lender. He first replaced Murthy as Infosys' chairman in August 2011 and played a vital role in succession planning at the company. 
 
"Infosys needs (a chairman) with experience in institution building. Right now the company is undergoing a serious transition and a lot of changes are taking place under the new CEO. So Infosys needs to pick someone who can be a good sounding board to Sikka," Kavil Ramachandran, executive director, Thomas Schmidheiny Centre for Family Enterprise at the Indian School of Business, told ET. 
 
Ramachandran said it should ideally be someone who Sikka respects and will not be seen a roadblock and also who knows the company well and values the ethos of the founders. 
 
During past five years, Infosys’ chairmanship changed as many as four times. Following two lacklustre years under co-founder SD Shibulal, the company's board brought back Murthy as executive chairman in June 2013 and Kamath moved out of his non-executive role. 
 
After the company appointed Sikka as its first non-founder CEO in August 2014, Murthy stepped down from his executive chairman role and Kamath took over again. 
 
(Image: Indiatimes)

Seshasayee likely to be interim chairman while search for Kamath’s successor continues

<keyword id="6354512" type="CITY" weightage="100" keywordseo="Infosys">Infosys</keyword>, India’s second largest IT company, admitted it had underestimated the effect of bringing in new and upcoming technologies. This could be one of the reasons that led to the shrinking of market share and decline in profits. 
 Infosys chairman <keyword id="51793" type="ORGANIZATION" weightage="100" keywordseo="NR-Narayana-Murthy">NR Narayana Murthy</keyword> had earlier said that the Bangalore-based company was lagging behind due to a lost focus on its “bread and butter traditional IT services.” 
 
“We underestimated the effects of the adoption of these new technologies and the change in the business model,” he said in a note to investors in the company’s annual report for 2013-14. 
 
“These newer services created smaller projects since many of the engagements were pilots. They also changed the revenue profile since clients preferred a subscription model to buy Cloud services. Our traditional business, IT services, slowed down, perhaps due to a lack of focus,” the co-founder said. 
 
More than three years ago, Infosys had introduced its 3.0 strategy, which aimed at expanding the focus and was looking to “move higher in the value chain.” Chief executive SD Shibulal had earlier said that the strategy would be “relevant to clients in all facets of their enterprises.” 
 
Many experts have, however, called the strategy’s timing inappropriate. Several observers have also questioned the weakness in execution of the 3.0 strategy. According to Partha Iyengar, India head of the IT research firm Gartner, “When Infosys says they want to be a product company, based on a thin stream of IP (intellectual property) scattered around the company, it is a difficult choice. To be a product-led company in the true sense, you need to have an absolute industry-leading product. Also, you cannot move to a product mindset company when you are such a mature player. 
 
“The CEO transition is an important move that the board has to act on in the coming year,” said Iyengar. “With Murthy as executive chairman, the risk in the transition is reduced,” he added

Infosys Admits Making ‘Strategy Errors’

Salil Parekh — the eye of the storm that surrounds Infosys

Deemed to be the most stable management in the Indian <keyword id="6354185" type="ENTERTAINMENT" weightage="20" keywordseo="IT">IT</keyword> sector, Tata Consultancy Service with a sudden shuffle in its top management is showing traits of its <keyword id="6354321" type="CITY" weightage="20" keywordseo="Bengaluru">Bengaluru</keyword> based rivals <keyword id="10862" type="CITY" weightage="20" keywordseo="Wipro">Wipro</keyword> and <keyword id="6354512" type="CITY" weightage="20" keywordseo="Infosys">Infosys</keyword>. While the latter have been thundered with resignations and shuffles in last few months, TCS was a way better until its head of business process services <keyword id="2067405" type="PERSON" weightage="20" keywordseo="Abid-Ali-Neemuchwala">Abid Ali Neemuchwala</keyword> moved to Wipro. 
 As per a news report by The Economic Times, Vish Iyer, who was the company's <keyword id="2540" type="POSITION" weightage="20" keywordseo="President">president</keyword> " Asia Pacific, was replaced by Girish Ramachandran in Janauary. Iyer is now <keyword id="192276" type="POSITION" weightage="20" keywordseo="global-head">global head</keyword> for legal and corporate affairs, TCS' investor relations page shows. 
 J Rajagopal, executive vice president and global head for consulting, stepped down from the role December, his profile on professional social networking site <keyword id="28120" type="CITY" weightage="20" keywordseo="Linkedin">Linkedin</keyword> shows, confirmed the financial daily. The responsibility for consulting was moved to Krishnan Ramanujam who is also the <keyword id="2835786" type="UNKNOWN" weightage="20" keywordseo="global-head-for-enterprise-solutions">global head for enterprise solutions</keyword>. Rajagopal is now an <keyword id="2835785" type="UNKNOWN" weightage="20" keywordseo="advisor-at-TCS">advisor at TCS</keyword>. In March, TCS also appointed <keyword id="2763091" type="UNKNOWN" weightage="20" keywordseo="Aarthi-Subramanian">Aarthi Subramanian</keyword>, its global <keyword id="212848" type="POSITION" weightage="20" keywordseo="head-of-delivery">head of delivery</keyword> excellence, to its board. 
 
The news report by the financial daily reads, part of the reason for the moves is also a result of a problem that the Indian IT industry is just beginning to face. In the past, high-performing talent could always be given better roles as the industry was expanding into new service lines and geographies. But as the industry has grown and matured, new areas to expand into have grown scarce. 
 "With the <keyword id="5645" type="POSITION" weightage="20" keywordseo="CEO">CEO</keyword> being quite a long way from retirement you have leaders of similar age moving on to CEO/COO roles as they will never gthe chance at TCS. Abid is one such person. They are also moving aside people to allow up-&amp;-comers space to lead and grow," Peter Bendor-Samuel, CEO at IT outsourcing consultancy, Everest told the ET. 
 
Analysts say that though growth at TCS has slowed over the past few quarters, the management changes are unlikely to be a reflection of that. 
 "I wouldn't ascribe the changes to the quarterly results. TCS has been one of the fastest growing companies in the Indian IT sector. I would say it is the normal process in the company," Thomas Reuner, <keyword id="24973" type="POSITION" weightage="20" keywordseo="managing-director">managing director</keyword> of IT outsourcing research at consulting firm HfS Research told the ET. 
 That is something TCS' Chandra has also said in an interview in April with the ET. "All of our units are run by very strong leaders," Chandra said. "So to be very <keyword id="227" type="PERSON" weightage="20" keywordseo="Frank">frank</keyword>, if you can take away one message, it's that our execution is solid. We have never had an execution issue. So, we are not going to rejig the structure for execution."

TCS has many new faces. Know
them all

One after the other, Wipro is poaching veterans from <a href="http://www.businessinsider.in/searchresult.cms?query=tcs">Tata Consultancy Service (TCS)</a>. Having poached Abid Ali Neemuchwala as its operations chief, Wipro has now picked up another top executive from TCS, Dave Chopra as Vice President of its key global infrastructure business. 
 
"Wipro can confirm that Dave Chopra has joined the company as vice-president, global infrastructure services, and will be responsible for driving strategy, marketing and business development for GIS. He will report to GK Prasanna, chief executive &amp; president, global infrastructure services, Wipro," a <a href="http://www.businessinsider.in/searchresult.cms?query=wipro">Wipro</a> spokesperson said. 
 
Infrastructure services business contributes nearly $2 billion, or about Rs 13,200 crore, of annual revenues to the <a href="http://www.businessinsider.in/searchresult.cms?query=wipro">Bengaluru-based IT major</a>. 
 
Chopra has been the global head of strategy for infrastructure services at TCS and has spent nearly 15 years at the country's top software exporter. As per his LinkedIn profile, he joined Wipro in August and is based out of New York. 
 
According to a report by outsourcing advisory ISG, at least $250 billion, or about Rs 16,50,000 crore, worth of deals are coming up for renewal in the next three years, with a significant chunk of it being driven by infrastructure services. 
 
<a href="http://www.businessinsider.in/Number-of-crorepatis-is-rising-in-Wipro-Find-out-how/articleshow/47876772.cms">Also Read: Number of crorepatis increasing at Wipro</a> 
 
Since Neemuchwala, former head of TCS' business process outsourcing division, came on board as president and COO in April, Wipro has poached some senior executives from TCS. The list includes Ankur Prakash, who heads emerging markets business of Wipro, and David D'Lima, head of its newly-created integrated services and solutions group — an initiative being personally driven by Neemuchwala. Neemuchwala, a potential CEO for Wipro in future , is trying to replicate a strategy of bundling together services and solutions that multinational rivals such as IBM have adopted for years to serve top clients. 
 
Since last few years, Wipro has lagged peers such as TCS, Infosys and US-based Cognizant Technology Services, and struggled to maintain consistency in its performance, triggering many overhauls and reshuffles inside the company. 
 
(Image: Blog CEB)

Here’s why TCS needs to be cautioned about Wipro’s intentions

(IANS) <ul><li><keyword id="1987529" type="PERSON" weightage="20" keywordseo="Twitter-CEO">Twitter CEO</keyword>, <keyword id="265395" type="PERSON" weightage="20" keywordseo="Jack-Dorsey">Jack Dorsey</keyword>, has been trolled on the social media platform after a picture of him surfaced holding a placard that read ‘<keyword id="7048854" type="UNKNOWN" weightage="20" keywordseo="Smash-Brahminical-Patriarchy">Smash Brahminical Patriarchy</keyword>’ during his India visit. </li><li><keyword id="749437" type="COMPANY" weightage="20" keywordseo="Twitter-India">Twitter India</keyword>’s legal head has said the picture was taken at an event for India’s minorities and was in fact a gift from a Dalit activist.</li><li>Some Twitter users accused Dorsey of "bigotry" and "racism" after the poster went viral </li></ul>Twitter CEO, Jack Dorsey, has created controversy after a picture of him surfaced holding a placard that read ‘Smash <keyword id="7048853" type="UNKNOWN" weightage="20" keywordseo="Brahminical-Patriarchy">Brahminical Patriarchy</keyword>’ during his India visit, prompting a volley of angry tweets from several Indian users. 
 
 
 
 
 
 
 
 
 <div type="javascript" title="Custom" contenttype="Text"><cdata><![CDATA[
 
]]></cdata></div>



















 Twitter India’s legal head Vijaya Gadde apologised for the move and clarified the picture was taken at a closed-door discussion with a group of women who shared their experiences on using Twitter, and was, in fact, a gift from a Dalit activist in connection to a movement to empower Dalit women. The Dalits are the most marginalised community in India and have been subject to centuries of discrimination and caste-related violence. 
 
 
 
 
 
 
 
 
 <div type="javascript" title="Custom" contenttype="Text"><cdata><![CDATA[
 
]]></cdata></div>



















 Twitter India also tweeted the incident was a “a tangible reflection of our company's efforts to see, hear, and understand all sides of important public conversations that happen on our service around the world.” Some Twitter users accused Dorsey of "bigotry" and "racism" after the poster went viral Among the Twitter users that criticised the picture were Mohandas Pai, a former finance chief of software exporter Infosys who called it a shame. 
 
 
 
 
 
 
 
 
 <div type="javascript" title="Custom" contenttype="Text"><cdata><![CDATA[
 
]]></cdata></div>



















 While in India, Dorsey participated in a roundtable with Journalists, activists and writers talking about the Twitter experience in India, when a journalist attending the discussion <a href="https://www.reuters.com/article/us-india-twitter-ceo/twitter-ceo-trolled-for-hate-mongering-against-indias-brahmins-idUSKCN1NP0JW?feedType=RSS&amp;feedName=topNews&amp;utm_source=twitter&amp;utm_medium=Social">tweeted</a> his picture with the placard. Dorsey was recently in India having high profile meetings with PM Modi, Rahul Gandhi and Shah Rukh Khan. With inputs from IANS.

Twitter CEO trolled in India for holding a placard that read ‘Smash Brahminical Patriarchy’

By Lalit K Jha Washington, Apr 10 () A high-profile diaspora group of some of the top Indian American corporate executives and leaders have raised USD 600 million to fight hunger and provide direct relief to vulnerable populations affected by the coronavirus pandemic in the United States and India. ChaloGive for COVID-19 launched by Indiaspora has raised USD 500 million from its leadership network. Indiaspora also announced another USD 100 million as matching donation for its online giving campaign starting Friday."This pandemic has exposed an already existing hunger crisis," said Indra Nooyi, former Pepsico CEO. "Together, as a society we must rise to this moment and address this great need knowing our investment in people, in families, and in communities will reap untold benefits not only now but into the future," she said. Money raised by Indiaspora will meet demand on the ground through beneficiary non-profits Feeding America in the US and Goonj in India, a media release said. One of the most pressing and urgent challenges facing both the US and India right now is hunger, which is a deciding factor in Indiaspora's new ChaloGive campaign, it added."We are facing an unprecedented situation due to Covid-19," said Anand Rajaraman, a Silicon Valley-based serial entrepreneur and venture capitalist, and an Indiaspora Founders Circle member who, along with his wife Kaushie Adiseshan, is a lead donor for the campaign."The drastic measures necessary to control this pandemic have created special challenges for vulnerable sections of society across the world, particularly in India and the US. Indiaspora has the opportunity to unite the diaspora to quickly and decisively help in the midst of this crisis," Rajaraman said."While all eyes are on frontline hospitals, millions in America and across the globe suffer silently from a growing and equally alarming epidemic of food insecurity as the COVID-19 crisis threatens to push already struggling families deeper into poverty," said Sejal Hathi, an Indiaspora Board member and physician at Massachusetts General Hospital."Now more than ever is the time for communities like Indiaspora's to come together and rise to this call to feed people in need," Hathi said. Indiaspora said ChaloGive for COVID-19 provides an opportunity for the Indian diaspora to make a collective impact toward helping marginalized communities which have been disproportionately affected by the ongoing crisis."This crisis has made it even harder for those who were already struggling to survive," said Kris Gopalakrishnan, chairman of Axilor Ventures and a founder of IT services company Infosys, who is also an Indiaspora Founders Circle member. "Given the increasingly global world we are living in, India and its diaspora are in a unique and powerful position to help each other," he added. It is essential that individuals, especially vulnerable populations who are most at risk, maintain access to food during this public health emergency," said former U.S. Surgeon General Dr Vivek Murthy. "I proudly support this campaign and trust its impact will go far to bring relief to those struggling with food insecurity," he said.In India, philanthropists Rohini and Nandan Nilekani and Bollywood actress Nandita Das also have voiced their support for the campaign."Goonj is just the kind of organisation we can rely on in this double crisis of health and livelihoods," said Rohini Nilekani. "It has decades of experience serving the most vulnerable while striving to preserve the dignity of every stakeholder, and it has time and again demonstrated a scaled up, rapid response in the aftermath of disasters. We have been supporters of Goonj for many years. They care, and they deliver," she said."Despite our extensive experience of working in disasters, the scale and still unfolding nature of this long-tailed disaster calls for massive resource mobilization for short-, mid- and long-term work," said Anshu Gupta, Goonj founder and a Magsaysay Awardee."We are delighted to partner with Indiaspora on this campaign as an opportunity to engage the Indian-American community and our well wishers from across the world in supporting their fellow citizens in this difficult hour," he said."The nation and our food bank network are facing challenges unlike anything we've seen in our organization's history," said Claire Babineaux-Fontenot, CEO of Feeding America. "We are truly grateful to Indiaspora for its support of Feeding America through the ChaloGive for COVID-19 campaign. During this time of uncertainty, the generous donations derived from this effort will help bring much-needed food and hope to countless families facing hunger across the US," he said. LKJ RAXRAXRAX

High-profile Indian diaspora group raises USD 600K for COVID-19 relief

<ul class="summary-list"><li>Indian techies were tripling salaries during the pandemic due to bloated demand for talent. </li><li>But the tech sector — especially edutainment — has already begun feeling the pinch amid a global downsizing. </li></ul>As the world strapped in for the pandemic, closing schools and sending workers home last year, India's techies were having a field day. Firms in Bengaluru, a tech hub in Southern India with 1.5 million IT employees and once dubbed the <a href="https://www.ft.com/content/7b774116-2964-11e5-acfb-cbd2e1c81cca">"world's back-office</a>," hired willy-nilly, as they struggled to cope with a surge in global demand for digital products."Salaries hit the roof," Yeshab Giri, the chief commercial officer at Randstad India, told Insider. He recalled one applicant who left his job with an annual salary of 1.2 million rupees, or $14,700. The tech worker received five offers from five different companies, and over several months negotiated his yearly pay up to 3.3 million rupees, or $40,400, Giri said. That's almost triple his last paycheck. To put that into perspective, rent for a one-bedroom apartment in the heart of Indian tech hub Bengaluru costs $1,840 a year, according to data from real estate company <a href="https://www.nobroker.in/blog/cost-of-living-in-bangalore/">NoBroker.</a>"These weren't one-off cases," said Uddhav Kumar, the co-founder and CEO of Lynkit, a firm that offers inventory and supply chain tracking services to logistics companies. "Everyone who was working would almost be guaranteed to have an offer that was double or triple what he earned."The skyrocketing demand though, didn't outlive the pandemic. Like with the US, as COVID-19 measures receded in India, so did the tech boom. Silicon Valley has seen round after round of layoffs in recent months, and India's been feeling the pinch too.Salary offers are declining, and at least 3,800 employees in Bengaluru were laid off in the last three months, according to data aggregated by <a href="https://layoffs.fyi/?">Layoffs.fyi.</a>But India's tech winter has been muted so far, four Bengaluru-based hiring experts told Insider. They see the decline more as the market returning to the brink of normalcy, and said there's still hope for laid-off tech workers — as long as they've been active in their jobs.<h2>'The glory days of last year are over'</h2>Recruiters believe the industry reached its turning point near the end of the third quarter."The glory days of last year are over, where everybody and anybody could get a job if they were half-decent," said Anup Menon, the vice president of CIEL HR Services. "In that sense, the average to below-average talent will have things to worry about. It won't be so easy to get a job.""Companies are now very clear about the budget they have, and will only hire within that range," he added.By CIEL's estimates, India's IT sector saw a 41% decline in hiring in September, compared to monthly averages in 2022, Menon said. However, he added that companies traditionally also slow down their hiring toward the end of the year."If you look at 2018, 2019, these are numbers comparable to those years," he said. Tech workers, especially those just laid off from well-known companies like Twitter or Stripe, are still looking at a "fairly decent quality pool" of employers, said Menon.But they'll have to expect fewer perks and lower salaries, he added.CIEL found that 77% of all tech companies are ending remote work or switching to hybrid work arrangements, compared to 25% of companies who enforced similar policies last year, he said. Subhashree Ghoshal, a senior consultant at JAC Recruitment India, told Insider that most tech companies engaging in layoffs are mostly looking to trim off excess workers as fewer projects come in — not necessarily their core workforce."The major backlash has been faced by employees who have been bench employees," said Ghoshal, referring to employees who aren't actively working on IT projects but are still on the company payroll.Firms are also looking to hire fresh graduates who are cheaper, while laying off employees who lead small teams like program managers and supervisors, said Ghoshal. Most in the latter category typically have five to 15 years of experience, he said.<h2>'The worst, however, may come next spring'</h2>The worst may come next spring, said Ghoshal, who predicts a surge in layoffs at the start of the first fiscal quarter and at the end of the second as Western demand for outsourced tech workers dwindles.At Randstad, Giri estimates a 25% drop in hiring in 2023. "We read a lot about the West, experts talking about financial slowdown in the US. We'll have to wait and watch," he said.For now, most of India's tech firms have shown resilience to market headwinds, faring better than their Silicon Valley peers.Tata Consultancy Services, an India-based mega firm with 600,000 employees, announced a net income of $1.3 billion in the second quarter of 2022, per <a href="https://www.bloomberg.com/news/articles/2022-10-10/tcs-profit-tops-estimates-after-outsourcing-giant-wins-new-deals">Bloomberg</a>. In the same quarter, Infosys, which hires a 345,000-strong workforce, <a href="https://www.infosys.com/investors/reports-filings/quarterly-results/2022-2023/q1/documents/q1-fy23-financial-results-auditorsreport.pdf">reported</a> a $65.6 million net profit. In contrast, Twitter <a href="https://investor.twitterinc.com/financial-information/quarterly-results/default.aspx">reported</a> a net loss of $270 million in the second quarter of this year, while Amazon <a href="https://affiliate.insider.com?postID=6386b687722a6819e779d5f6&amp;site=bi&amp;u=https%3A%2F%2Fir.aboutamazon.com%2Fnews-release%2Fnews-release-details%2F2022%2FAmazon.com-Announces-Second-Quarter-Results-fe1df2b70%2F">reported</a> a net loss of $2 billion in the same time frame. Meta <a href="https://investor.fb.com/investor-news/press-release-details/2022/Meta-Reports-Second-Quarter-2022-Results/default.aspx">reported</a> a 36% net income drop to $6.69 billion in Q2 2022, compared to the same quarter in the previous year.Menon of CIEL believes demand for tech workers will pick up again in the second quarter of next year, after a "much-needed correction" in the industry. "It was a little too unpredictable with the job hops and the kinds of salaries that were floating around," he said.Lynkit CEO Kumar concurred. "There was a lot of false hype around things that didn't add value but kept expanding," he said. "I think we are going to see that slowly being weeded out of the ecosystem."<h2>Sectors like edutainment for kids are badly hit</h2>One example of the post-pandemic decline involved digital services for kids, said Lynkit CEO Kumar. With schools shut during the pandemic, parents began buying educational and entertainment, or edutainment, subscriptions to keep their children busy."When schools started again, suddenly these kids had no reason to have these subscriptions," he told Insider.Education startup Byju's, touted as the <a href="https://asia.nikkei.com/Business/Education/Indian-edtech-Byju-s-raises-250m-from-existing-investors#:~:text=BENGALURU%20%2D%2D%20India's%20largest%20online,was%20cutting%20about%202%2C500%20jobs.">largest education tech startup</a> in India, spent <a href="https://economictimes.indiatimes.com/tech/startups/byjus-buys-great-learning-toppr-as-2-billion-acquisition-spree-continues/articleshow/84752307.cms?from=mdr">$2 billion during the pandemic</a> buying up other education firms to boost growth. It suffered a $575 million net loss in the year ending March 2021, <a href="https://www.bloomberg.com/news/articles/2022-09-14/byju-s-reports-widening-losses-after-prolonged-audit-delay">per Bloomberg</a>. The company blamed poor macroeconomic conditions, and said it adopted a new revenue recognition model that led it to defer 40% of its revenue to the next few years, <a href="https://www.reuters.com/technology/indias-byjus-posts-gross-revenue-100-bln-rupees-fy22-2022-09-14/#:~:text=Gross%20revenue%20for%20fiscal%202022,listing%20plans%20to%20next%20year.">Reuters reported</a>. In October, Byju's laid off 2,500 employees, or around 5% of its total workforce. Byju's did not immediately respond to Insider's request for comment for this story.Lynkit has been feeling the ripple effects of the third quarter fallout, said Kumar. Its HR department recently received around 1,200 resumes for an open product manager position, a role that normally sees 500 to 600 applications, the CEO said.Yet compared to the high-profile dismissals in San Francisco, the furloughs in Bengaluru represent smaller proportions of staff let go.And 2,500 jobs are a mere drop in the total pool of tech workers in India; Giri estimated that a total 350,000 people will join the local IT industry by the end of 2022."The layoffs that we're seeing are not really mass layoffs. Large companies laid off about 2,500 people, but we have to understand that they have a base of 50,000 people," Giri said.

Bengaluru, home to 1.5 million IT workers and called 'the world's back-office,' has dodged the tech winter ripping through Silicon Valley &mdash; but experts warn it may not last

<div class="KonaFilter image-container display-table"><div><div class="image"></div></div></div> A LOT of room in an office is a sign either of a blossoming company or a shrivelling one. Happily for Frank Han, the empty space at Kenandy, a cloud-computing company in Redwood City, a few miles south of San Francisco, indicates the former. 
As manager of "talent acquisition", he is busy filling it. Since he joined Kenandy last October, Mr Han has recruited 32 of the nearly 80 staff. At some point when hiring half of them, he used LinkedIn.
LinkedIn, based a bit farther south in Mountain View, had its origins in 2002 as a "network of people", says Allen Blue, one of its founders. "We had in mind a tool for ourselves," he explains, "and we were entrepreneurs." People starting a business may have a little money, but no office, no team and no big institutions behind them. "So much of what entrepreneurs need is about interrelationships."
<div class="KonaFilter image-container display-table float_right"><div><div class="image"></div></div></div>Since then LinkedIn has spread far beyond Silicon Valley. It is an online contact book, curriculum vitae and publishing platform for anyone wanting to make their way in the world of work. Its membership has almost trebled in the past three years, to 313m (see chart 1); two-thirds of them live outside America.
Most are professionals, mainly graduates, neither at the apex of the corporate pyramid nor at its base. "It's a presence in your life that wasn't there a few years ago," says a member who works for a firm of accountants. "You can't walk into a room without everyone having looked everyone else up on LinkedIn."
Most members pay nothing to list details of their education and career, to be told about jobs, to "endorse" each other's skills, to read recommended articles-and to be annoyed with endless requests from people wanting to "connect" with them. Some pay a premium subscription for a customised profile, a bigger photograph, and the right to send 25 e-mails a month to other members (even if they are not connections already). Premium subscriptions bring in one-fifth of LinkedIn's revenue, which amounted to $534m in the second quarter, 47% more than a year before. (It reported a small net loss, largely because of a charge for share-based compensation.)
Yet LinkedIn is more than just a means for aspiring professionals to make friends and influence people. It has changed the market for their labour-how they find jobs and how employers find them. By bringing so many professionals into one digital place, it has become a honeypot for folk like Mr Han. One corporate recruiter after another calls it a "game-changer".
But LinkedIn's ambitions do not end there. They are limited only by the size of the world's labour market. Its chief executive, Jeff Weiner, envisions what he calls a vast "economic graph", connecting people seeking or starting work or wanting more from their careers. That implies an eventual membership of 3 billion-Mr Weiner's estimate of the global labour force. In other words, LinkedIn wants to change not only the business of recruiting, but also the operation of labour markets and, with that, the efficiency of economies.
<h2>The 60% solution</h2>
Recruiters are LinkedIn's main source of revenue. They pay for licences to trawl for likely job candidates and to e-mail them about vacancies, as well as for placing advertisements on the site. This business-called "talent solutions"-accounts for about three-fifths of sales. It allows recruiters to be more precise about the groups to search in order to find people to hire-people who attended certain universities, say. Rajesh Ahuja, the senior recruiter in Europe and Asia at Infosys, an Indian software company, focused a recent effort to hire 200 MBA students on graduates of several hundred colleges.
LinkedIn's main benefit to recruiters has been to make it easier to identify people who are not looking for a new job, but who might move if the right offer came along. These "passive" jobseekers, says Dan Shapero, head of sales in the firm's talent-solutions business, make up perhaps 60% of the membership (active jobseekers make up 25%; those who will not budge for any money make up the rest).
LinkedIn has made it easier for companies to identify such people themselves, rather than rely on recruitment agencies. In that sense, it represents a challenge to the agencies. Mr Ahuja says that two years ago he used external agencies to fill 70% of open positions in Europe. Now their share is 16%. Steven Baert, head of human resources at Novartis, a pharmaceuticals firm, says he hired "at least 250 people through LinkedIn last year when we might have used executive search in the past."
The agencies have not been put out of business, but they have to do more than just compile a list of names, which in-house recruiters can now do for themselves. Agencies will still be used in the later stages of hiring-working out who is likely to fit in, for instance. Since LinkedIn greatly increases the number of potential candidates, there also is more sifting to be done. Some recruiters say they are spending as much on agencies as they used to.
For the top jobs, LinkedIn is still too public. Denizens of the executive suites often expect a discreet tap on the shoulder from a bespoke headhunting firm. That is why Korn/Ferry, one of the biggest headhunting firms, reported record revenues and profits last year. Even so, LinkedIn is working its way up the greasy pole. Hubert Giraud, head of human resources at Capgemini, a French consulting firm, reports that last year he used it in the hiring of 33 managers in India. "I don't have to pay headhunters hefty money even to reach out to senior people," says Mr Ahuja.
Even outside the executive suite, LinkedIn is not ubiquitous. A French rival, Viadeo, is bigger in France and China (see "Viadeo: Nipping at LinkedIn's heels")-although LinkedIn launched a site in simplified Chinese in February. In Germany recruiters are more likely to use Xing.
LinkedIn makes planning ahead easier: firms know whom to approach before they start a recruitment drive. "When we're expanding, we've already identified them," says Mr Baert. It improves certain kinds of specialist recruitment because, when trawling for scarce skills, it is better to fish in a bigger pool. Glenn Cook, director of global staffing at Boeing, says LinkedIn is a good source of specialised aircraft mechanics. "You wouldn't necessarily think these folks would be on LinkedIn, but they are." He reckons it is easier to fill posts that used to be vacant for "six or eight months".
<div class="KonaFilter image-container display-table float_right"><div><div class="image"></div></div></div>It is true that LinkedIn makes it easier to lose people as well as to find them, because they are on permanent display to competitors and headhunters. But companies see this glass as half full, not half empty-and, anyway, their employees have joined in large numbers whether they like it or not (see chart 2).
Mr Giraud says that when he ran Capgemini's business-process outsourcing unit he encouraged all his 15,000 staff to join. "I thought it would be fantastic to have a nice profile...to make sure our business partners had a clear view of who we were."
LinkedIn also helps recruiters scour their own companies for talent: firms are often poor at spotting what is right under their noses. Marie-Bernard Delom, who has the task of identifying high-fliers at Orange, a French telecoms company, is using LinkedIn for that reason. She has commissioned software that combines LinkedIn profiles with internal data.
Companies can also see how they measure up against others trying to hire the same people. They can do so using LinkedIn in combination with other sites such as Glassdoor, where people anonymously rate the places where they work or have been interviewed. Mr Shapero calls this a "sales and marketing process", in which companies treat their reputations as employers like brands.
<div class="KonaFilter image-container display-table float_right"><div><div class="image"></div></div></div>They can track how many staff have quit to join the competition, as well as how many are coming the other way. LinkedIn members can "follow" companies they do not work for, another loose indicator of potential interest in a job: both Novartis and Infosys boast 500,000. American tech giants have many more (see chart 3).
As LinkedIn attracts more members in more countries and industries, its data will become richer. Put another way, the lines in Mr Weiner's graph will become more numerous-and more useful.
He thinks that if you trace the connections between workers, companies and colleges, and if you map people's jobs, qualifications and skills and plot these against employers' demands, you will end up with a step-change improvement in information about labour markets: big data for the world of work.
<h2>The world's labour exchange</h2>
And that, in principle, should help labour markets work more smoothly, potentially reducing Europe's youth unemployment rate, for example; or matching some of America's 20m underemployed with its 4.7m vacancies; or helping the millions of Chinese expected to migrate from the countryside to cities to find work.
Such hopes are remarkably ambitious. They amount to a gargantuan exercise in eradicating the mismatch between the skills people have and those employers want, or between the places jobs are on offer and those where people live.
As Mr Blue concedes, "there are real barriers that we haven't even begun to face yet." LinkedIn is only starting to reach beyond professionals, for example. Eventually it may have even to think, as Amazon, Facebook and Google are doing, about providing internet access in remote parts of the world; but that is far ahead.
Still, LinkedIn is starting to do more than just find and fill professional jobs. Undergraduates can see how many of their predecessors have ended up in given companies or professions, to help them plot their own paths. (Those who graduated years ago can do the same for their classmates, and laugh or weep accordingly.)
Some companies have begun to use LinkedIn's data to help them decide where to open new offices and factories. By looking at the skills on offer-at least among the network's members-and demand for them in different parts of the United States, LinkedIn's data scientists can identify "hidden gems" where there are plenty of potentially suitable employees but little competition for their services.
Perhaps most significant, LinkedIn has started to feel its way beyond professionals. Since early June the number of jobs on its site has jumped from 350,000 to about 1m. As well as openings for software engineers at IBM can be found jobs as delivery drivers for Pizza Hut or on the tills at Home Depot-which until now no one would have expected to find there. This is because LinkedIn has added jobs from employers' websites or human-resources databases to its existing paid advertisements.
Unlike paid ads, the new ones are seen only by members who are actively seeking jobs. The idea is being tested only in America so far. But if delivery drivers and checkout clerks start to look for and find jobs on the site, LinkedIn will have taken a step towards becoming a much broader job shop.
It is hard to know what its eventual effect might be. Even if Mr Weiner's grand vision were realised, it could not cure global unemployment on its own, though richer data ought to make a difference. In explaining high unemployment rates in Western economies, many economists would put more weight on weak aggregate demand than on a mismatch of location or skills.
It is even difficult to quantify the impact of LinkedIn on labour markets so far. In theory, making it easier for people to find better jobs could affect the rate of job turnover within firms: recruiters say they have noticed little impact, and that other factors (such as the economic cycle)-seem to matter more. But no one really knows.
As LinkedIn's data pool deepens, its value to researchers as well as its members and corporate customers will increase. Pian Shu, an economist at Harvard Business School, points out that you could compare the career paths of those who graduate in recessions with those who graduate in booms: do the former, as you might suppose, fare worse?
Aiding academic research is not LinkedIn's priority. But its interest to economists is a sign of how pervasive it has become. "I'm on there until midnight a lot," says Mr Han, of his quest to find the right people for Kenandy. "I'm hooked."
Click <a href="https://subscriptions.economist.com/nwcd">here</a> to subscribe to The Economist

You Searched For "infosys ceo profile" and got 11 results

The Infosys clean-up under Salil Parekh seems to have come a full circle within 2 years

Prabhjote Gill

Why Two Ex-Infosys Bosses Took The Poll Plunge

Times Of India

Seshasayee likely to be interim chairman while search for Kamath’s successor continues

BI India Bureau

Infosys Admits Making ‘Strategy Errors’

BI India Bureau

Salil Parekh — the eye of the storm that surrounds Infosys

TCS has many new faces. Know them all

BI India Bureau

Here’s why TCS needs to be cautioned about Wipro’s intentions

BI India Bureau

Twitter CEO trolled in India for holding a placard that read ‘Smash Brahminical Patriarchy’

BI India Bureau

High-profile Indian diaspora group raises USD 600K for COVID-19 relief

PTI

Bengaluru, home to 1.5 million IT workers and called 'the world's back-office,' has dodged the tech winter ripping through Silicon Valley but experts warn it may not last

Matthew Loh,Britney Toh

LinkedIn Has Already Shaken Up The Way Professionals Are Hired - And It's Just Getting Started

The Economist

Popular Keywords

Buying Guides