Site news

LARGE IT SERVICES COMPANIES ARE IN THE PROCESS OF LAYING OFF EMPLOYEES WHILE L&T INFOTECH IS TO HIRE 1,000 PROFESSIONALS

 
 
Picture of System Administrator
LARGE IT SERVICES COMPANIES ARE IN THE PROCESS OF LAYING OFF EMPLOYEES WHILE L&T INFOTECH IS TO HIRE 1,000 PROFESSIONALS
by System Administrator - Tuesday, 9 May 2017, 11:14 PM
 

By: M.S.Yatnatti: Editor and Video Journalist Bengaluru: Reportedly Large IT services companies are in the process of laying off employees on a scale not seen since the 2008-10 downturn while L&T Infotech, which has rebranded itself as LTI, is hiring people in newer technologies. India's sixth largest IT services firm is learnt to be hiring over a 1,000 mid-level professionals in 2017-18 across emerging technologies including proficiency in front-office insurance underwriting solutions Guidewire and Duck Creek, business intelligence and data visualization tool Tableau, data integration solution Talend, and enterprise analytics platform MicroStrategy.The company is looking at those with 8-15 years of experience, and this at a time when a number of leading IT services companies are asking employees in this experience bracket to leave. The need for specialised skills re flects in the company's new deal wins including that of a property and casualty insurance company to implement Duck Creek for six commercial lines of businesses.LTI, which counts Hitachi and Samsung Electronics among its customers, has embarked on a digital journey leveraging what it calls the Mosaic platform that partners with customers on their mobile, social, analytics, IoT and cloud transformations. The company is also hiring 1,500-2,000 freshers this year, said sources close to the company .LTI is increasingly focusing on making at least 75% of the organisation DevOps and Agile-ready as companies are seeing the benefits of bringing lean operations and continuous integration. The move is also seen to be necessary to fulfil several large annuity engagements that the firm has won recently .The company posted robust performance in the fourth quarter and for the 2016-17 financial year, outperforming its larger peers. Its revenue rose 3.6% sequentially in the March quarter to $254 million. For the full year, its revenues rose 9.3% to $969.9 million. In constant currency , its revenue grew 10%, meeting the higher-end of Nasscom's forecast of 8% to 10% for the year.