Cognizant's decision to move out of content moderation biz has created space for other companies.
Bermuda-headquartered Genpact told the US Securities and Exchange Commission on Thursday night that Bain Capital and its co-investors are selling 15.4 million shares.
The firm had planned to increase hiring in its sales vertical to build a 500-strong team that will target niche deals in digital services.
Slower global economic growth caused by the US-China trade war and a delayed Brexit have taken a toll on IT companies, as clients have cut or delayed spending. Earlier this month, DXC Technology, with about $20.75 billion in revenue, slashed its revenue target by $275 million to $19.5-$19.8 billion, as clients postponed signing new deals.
Companies, ranging from the technology units of retailers to car manufacturers and Indian IT firms, have been struggling to recruit talent with knowledge of new technologies that are disrupting businesses across the world.
The Indian IT services leader’s mega insurance wins first came in the UK market, through its Diligenta unit, which initially focused on managing closed-book business — pools in which no new insurance policies are issued. Managing a closed book typically means the contract will end after all the policies run out, though that can take years.
Tata Consultancy Services has expanded its deal with European life insurance and pension consolidator Phoenix Group. Phoenix, which has been a TCS client for over 15 years, took over Standard Life Assurance in a 3 billion pound deal in August 2018. Phoenix took over about 3,500 employees as part of the deal, 2,900 of whom are in Edinburgh.
As the board investigates the anonymous complaints, Infosys CEO Salil Parekh said he was committed to executing the Infosys strategy and had served with commitment and integrity.
Whistleblowers claim CEO Salil Parekh hid information from the auditors to boost margin.
Infosys said the independent internal auditors were given a mandate to review certain processes.
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