IT firms to cut payouts as outlook weakens
Mint Mumbai|July 10, 2023
The information technology (IT) industry is likely to offer muted variable payouts of 60-70% of the promised amount for the June quarter, with top performers getting as much as 80%, as IT companies focus on saving costs amid a weakening revenue outlook and reduced employee turnover
Devina Sengupta & Mayur Bhalerao
IT firms to cut payouts as outlook weakens

"Considering the current sentiment, there is a possibility that employers take a prudent approach, and payouts will be made only to those teams whose businesses have performed well," said R. Ramesh, director of digital business solutions, professional staffing and international engagement at staffing firm Adecco Staffing.

Unlike IT product companies, which are seeing active hiring, IT services companies have curtailed recruitment efforts. The drop in attrition rates amid sluggish market conditions is another reason companies can skip workers' demands. Analysts expect IT services firms' June quarter earnings to be weak.

Bu hikaye Mint Mumbai dergisinin July 10, 2023 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

Bu hikaye Mint Mumbai dergisinin July 10, 2023 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

MINT MUMBAI DERGISINDEN DAHA FAZLA HIKAYETümünü görüntüle
India in economic sweet spot, inflation to moderate: Moody's
Mint Mumbai

India in economic sweet spot, inflation to moderate: Moody's

India's economy is in a sweet spot and its inflation is expected to moderate despite a temporary spurt, Moody's said, projecting optimism about the country's growth prospects despite recent underwhelming data.

time-read
2 dak  |
November 16, 2024
Incentive engine to drive modern ships
Mint Mumbai

Incentive engine to drive modern ships

Subsidies for green, high-tech ships under ₹18,000 cr policy

time-read
2 dak  |
November 16, 2024
Cement firms wage war on costs as competition soars
Mint Mumbai

Cement firms wage war on costs as competition soars

India's cement makers who once flexed their pricing muscles are caught in a bruising price war, eroding margins at a time of rising demand.

time-read
3 dak  |
November 16, 2024
Saudi Arabia doesn’t have enough money for its futuristic city
Mint Mumbai

Saudi Arabia doesn’t have enough money for its futuristic city

The giant futuristic planned city of Neom is proving a headache for Saudi Arabia. Costs are up, schedules are delayed, and in recent days the world’s largest construction project replaced its chief executive of six years.

time-read
4 dak  |
November 16, 2024
EV adoption is a marathon, not a sprint: Audi India
Mint Mumbai

EV adoption is a marathon, not a sprint: Audi India

The slowdown in electric vehicle (EV) sales is temporary, and the industry will grow over time, Audi India head Balbir Singh Dhillon said, pointing to the need for extensive charging networks and supportive government policies.

time-read
2 dak  |
November 16, 2024
India's trade gap with China soars in Apr-Oct
Mint Mumbai

India's trade gap with China soars in Apr-Oct

The country's green transition increases reliance on Chinese imports

time-read
2 dak  |
November 16, 2024
14 nations eye India's generic drug model
Mint Mumbai

14 nations eye India's generic drug model

Countries will specify their requirements, with HLL and MEA coordinating with them for the pharma exports

time-read
1 min  |
November 16, 2024
India urges $1.3 tn annual climate grant
Mint Mumbai

India urges $1.3 tn annual climate grant

Intervening on behalf of like-minded developing countries (LMDCs), India said that developed countries need to commit to provide and mobilise at least $1.3 trillion every year in the New Collective Quantified Goal (NCQG) till 2030.

time-read
2 dak  |
November 16, 2024
Over 600 mn cyberattacks daily, AI can secure devices
Mint Mumbai

Over 600 mn cyberattacks daily, AI can secure devices

Microsoft is developing a password-free authentication process to eliminate the risk of breaches

time-read
2 dak  |
November 16, 2024
Small businesses ramping up cybersecurity, thanks to AI
Mint Mumbai

Small businesses ramping up cybersecurity, thanks to AI

Rising AI adoption is helping cybersecurity providers hike their marketable base in India

time-read
3 dak  |
November 16, 2024