What can we make of the recent TCS & INFY numbers ?

Is 2024 gonna be even bad year for job seekers. Last 1.5 years was terrible. Please share your thoughts

With big corporate giants like Google, Apple, Bain, Tesla, Amazon etc. laying off staff in the name of cost reduction, automation&innovation and restructuring while at the same time tech companies like Accenture not awarding any yearly hikes to professionals for 2 consecutive years now, where do you see the IT/Tech/Consulting industry heading towards in next couple years down the line? By when is the market expected to revive? Which companies are still committed to ensuring job security along with high pay standards or is that a thing of the past? Please enlighten me😊

What does unemployment around you look like? Or if not around us, for people trying to come out of Tier 2/3 towns. These mass recruiters (behemoths like Capgmeni & Cognizant + TCS Infosys) are actually the gateway for many into a city life. In the absence of it, it's scary to think what they're up to.

I joined this mid level product cum service based company 3.5 years back and got around 5 increments with average of 40% hike each time. This year they have increased by just 5% and also they promised they won't layoff any current employees which is a good sign. Is this expected seeing the current scenario around IT world?

I am seeing a lot of layoff related posts everywhere from news articles to LinkedIn.. Is the Job market really that bad now? Or just the media is projecting that way? If it's really bad, which department you think is the most affected? How's layoffs specifically in India? Or is it layoffs in US but more hiring in India due to cost cutting? Are layoffs in technology/engineering dept as in for developers or some other departments? Your thoughts please..

90 days notice period required, non-compete agreements get signed but when they want to layoff..woosh! Pack your bag and F*** Off!

- Tata Consultancy Services (TCS) slightly exceeded first-quarter revenue expectations but remains cautious about future growth due to volatile market conditions, according to CEO K Krithivasan. - Customers are holding back on tech spending in preparation for economic uncertainties, impacting demand for Indian IT services since FY23. - TCS reported a 5.4% rise in consolidated revenue to 626.13 billion rupees and an 8.7% increase in net profit to 120.40 billion rupees for the June quarter. - The company secured deals worth $8.3 billion, down from $13.2 billion in the previous quarter, with significant contributions from mega deals like BSNL and Aviva. - Analysts predict a demand recovery for the Indian IT sector in the second half of FY25, with a full-blown recovery expected in FY26, potentially boosted by an early rate cut in the U.S. Source: Reuters

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