The Teaneck, New Jersey-based IT services provider earns around 38% of its $16.8 billion revenue from digital businesses.
Revenue from Tata Sons as well as subsidiaries and associates grew to nearly Rs 2,656 crore compared to a more than 13% growth to Rs 2,566 crore in financial year 2019, when the software services exporter capitalised on the group's new technology initiatives.
Cisco has been growing its software services portfolio in a pivot away from its traditional hardware business. It had earlier acquired application performance and monitoring company, AppDynamics, in 2017 for $.3.7 billion.
New Jersey headquartered Cognizant has announced a voluntary separation package (VSP) for its US employees. Due to the slowdown in demand and fewer contracts, the company is shedding the number of employees without active projects.
Funds will be deployed towards a blockchain and cryptocurrency learning programme aimed at first-time cryptocurrency traders.
In March, the Supreme Court had struck down restrictions imposed by the RBI in a circular in April 2018 which directed all entities regulated by it not to deal in virtual currencies or provide services to facilitate any person or entity from dealing or settling in the same.
"I am deeply convinced that in terms of access to the talent pool and capability, engineering in India is at the centre of success of the group and definitely key, in terms of our ability to provide competitive services to clients. India is also important in terms of developing all our sectoral knowledge and innovation," Aiman Ezzat said.
Veeraraghavachary, a two decade veteran at Cognizant, held several roles including Corporate Security, Global IT & sales and operations would remain in the organisation till August.
While large outsourcers like Infosys and TCS are confident that clients will consolidate their technology engagements under one roof to streamline costs, midcap firms such as Hexaware and NIIT Tech say they will win bigger deals amid consolidation opportunities, despite the widespread impact on several key verticals such as travel and hospitality.
According to TCS' annual report for 2019-20, Gopinathan received Rs 1.35 crore in salary, Rs 1.29 crore in perquisites, Rs 10 crore in commission (at 0.02 per cent of profit) and Rs 72.82 lakh in allowances.
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