Startups, though, are revising growth plans and consequently, hiring is mostly on hold. “Almost 50% of ongoing interviews, new requirements, onboardings have stopped for the last two weeks now, particularly in the IT sector,” said Kamal Karanth, cofounder of Xpheno, a staffing agency that focuses on hiring for tech services companies and startups.
Technology captives of global organisations in India have gained prominence over the years and started developing crucial software for their parent organisations. India currently houses more than 1,200 such GICs and majority of them are focused on technology development.
Tech companies may resort to belt tightening moves last used during 2008 financial crisis.
Employees working onsite said they were “scared” to travel to work locations due to the virus.
Primers are short pieces of the DNA of a virus that is used for polymerase chain reaction (PCR) tests that help in reducing the time to diagnose a disease. Scientists have sequenced the genome of the novel coronavirus. The rapid screening diagnostic here means taking the Covid-19 virus sequence and creating a PCR-based test to match against the sequence.
The spread of the coronavirus is causing issues for IT services companies and they are just beginning to evaluate the impact. IT services experts expect to see more companies seeking waivers as the intensity of the pandemic increases. Analysts said most work, though, was easy to move to a work-from-home model and that contracts had ‘force majeure’ clauses that would allow for it.
IBM said this advanced version of natural language processing (NLP) for its Project Debater would have the capability to understand challenging aspects of conversational English helping organisations to get greater clarity and more insights from their data.
Analysts see big impact as travel and hospitality firms defer spending in new tech projects as well as bargain for lower prices in existing projects. IT services exporters, especially mid-tier firms, are going to be “hit hard” given their higher exposure to the vertical, analysts said.
Quantum, initiated after an external audit, includes transformation of various processes and operations across finance, sales, delivery, human resources and other departments.
Sharada Nandakumar, a Wipro long-timer who led the telecom vertical in her previous roles for the Bengaluru-headquartred tech services major, was reporting to president and chief operating officer Bhanumurthy B M. She was spearheading the large enterprise-wide digital transformation programme at Wipro.
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