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☆ Leaked email: Broadcom CEO says the company is reviewing 'strategic alternatives' for two of VMware's businesses
▼ + stars: | 2023-11-29 | by ( Rosalie Chan | ) www.businessinsider.com time to read: +5 min

Broadcom CEO Hock Tan told employees he's reviewing strategic alternatives for two parts of VMware following the acquisition of the cloud software company. Most recently, VMware president Sumit Dhawan became CEO of cybersecurity company Proofpoint. I am very pleased to welcome VMware employees to Broadcom and bring together our engineering-first, innovation-centric teams. We will also continue to support VMware's End-User Computing, led by Shankar Iyer, VP and General Manager, and Carbon Black, led by Jason Rolleston, VP and General Manager, as we review strategic alternatives for these two businesses. As we move forward, we expect there will be growth opportunities for VMware employees within the larger combined company.

Persons: Hock Tan, Tan, CRN, Raghu Raghuram, Krish Prasad, Purnima Padmanabhan, Sanjay Uppal, Umesh Mahajan, Thoma, Sumit Dhawan, •, Shankar Iyer, Jason Rolleston, Mike Gannon, • Regan McGrath, Luigi Freguia, • Sylvain Cazard, Cynthia Loyd, Ricky Cooper, Joan Stone, Mark Nagle, • Bryan Prosek Organizations: Broadcom, VMware, Business, VMware Cloud Foundation, CA Technologies, Thoma Bravo, Symantec, Cyber Security Services, Accenture, HCL Technologies, Broadcom Employees, •, Security, Strategic, Corporate, Asia Pacific, Services

☆ We have the lowest attrition in the information technology services industry, says tech firm
▼ + stars: | 2023-10-13 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe have the lowest attrition in the information technology services industry, says tech firmC Vijayakumar, CEO and managing director at HCL Technologies, tells CNBC about how the company's new operating model helps lower the attrition rate.

Organizations: HCL Technologies, CNBC

☆ AI may force IT spending into economic decoupling
▼ + stars: | 2023-10-11 | by ( Pranav Kiran | ) www.reuters.com time to read: +3 min

BENGALURU, Oct 11 (Reuters Breakingviews) - Global CEOs are under pressure from investors to adopt generative artificial intelligence into their businesses. Outsourcers like $200 billion Accenture are sounding the alarm. Accenture sold $300 million in generative AI deals in the year to August, less than 1% of its $72 billion in total new bookings. Blackstone-backed Mphasis, a smaller firm, says one-third of its total contract value of $707 million for the quarter to the end of June was from “pure AI deals”. The full spectrum of how businesses can use generative AI is still emerging but there are obvious applications: customer support agents and coders are seeing productivity increases of 14% and 55% respectively.

Persons: ChatGPT, Julie Sweet, Una Galani, Thomas Shum Organizations: Reuters, Global, Accenture, Tata Consultancy Services, Infosys, HCL Technologies, Consulting, Gartner, Blackstone, Thomson Locations: BENGALURU, U.S, India

☆ India's TCS expands partnership with Britain's JLR in over $1 billion deal
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +1 min

A member of staff works on the production line at Jaguar Land Rover’s factory in Solihull, Britain, December 15, 2022. REUTERS/Phil Noble/File photo Acquire Licensing RightsBENGALURU, Sept 6 (Reuters) - India's Tata Consultancy Services (TCS.NS) and Britain's Jaguar Land Rover (JLR) have expanded their partnership, valued at more than 800 million pounds ($1.00 billion) over five years, the two Tata Group companies said on Wednesday. As part of the partnership, India's top IT services exporter would deliver a range of services for the vehicle manufacturer spanning application development and maintenance to cloud migration, cybersecurity and data services. TCS had in June signed a $1.1 billion contract with British pension scheme Nest. Rivals Infosys (INFY.NS) signed three deals between June and August, while HCL Technologies (HCLT.NS) secured a $2.1 billion deal with U.S. telecom major Verizon last month.

Persons: Phil Noble, Nandan Mandayam, Shilpi Majumdar Organizations: REUTERS, Rights, India's Tata Consultancy Services, Rover, Tata Group, JLR, TCS, Infosys, HCL Technologies, U.S, Verizon, Thomson Locations: Solihull, Britain, India, States, Bengaluru

☆ VMware employees in end-user computing and security believe Broadcom may divest their units after it closes its $61 billion deal
▼ + stars: | 2023-05-31 | by ( Rosalie Chan | ) www.businessinsider.com time to read: +5 min

Broadcom plans to acquire VMware for $61 billion, and they're preparing to close the deal this year. Workers in end-user computing and Carbon Black security think their units could be spun out or sold. Broadcom's upcoming $61 billion acquisition of VMware has led employees in two units — end-user computing and Carbon Black security — to speculate that their units could be spun out or sold. The EUC unit builds products such as Horizon and Workspace One that allow users to access their enterprise applications from anywhere over the cloud. After Carbon Black was acquired, it was supposed to take a year or two to get integrated with VMware.

Persons: Thoma, they'd, Rob Ruelas, John Ryan, Sarah Swatman, Angus McGeachie, Chris Rottner Organizations: Broadcom, VMware, Workers, Symantec, Securities, Exchange Commission, CA Technologies, Thoma Bravo, Cyber Security Services, Accenture, HCL Technologies, EUC Employees, Carbon, Symantec's Locations: EUC, Europe, Africa

☆ J.P.Morgan puts India's HCL on 'negative catalyst watch' ahead of Q4 results
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, April 4 (Reuters) - J.P.Morgan on Tuesday placed Indian IT services provider HCL Technologies Ltd (HCLT.NS) on "negative catalyst watch" ahead of the earnings season, citing the highest near-term risks for the company. The brokerage also expected Infosys to give "soft" guidance due to the uncertain macro environment and the departure of Mohit Joshi, its president and head of banking, financial services and insurance. TCS Chief Executive Officer Rajesh Gopinathan resigned last month, while Joshi was named CEO of Tech Mahindra (TEML.NS). Earlier, J.P.Morgan had said TCS and Infosys have the highest exposure to regional banks in the United States that are gripped by a financial turmoil. Reporting by Nallur Sethuraman in Bengaluru; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.

☆ We will continue to be a 'net hirer' in the industry, says tech company
▼ + stars: | 2023-02-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe will continue to be a 'net hirer' in the industry, says tech companyC Vijayakumar of HCL Technologies says "we will continue to hire more people in this quarter and next year."

☆ December inflation data: Here's how it could move markets
▼ + stars: | 2023-01-12 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

"Like we saw following November's CPI report, markets rallied and then pulled back," Conzo explained. The central bank remains "worried about the overheating labor market," and the CPI report is "unlikely to quell those concerns." If the inflation data shows further cooling today, how does that impact your economic outlook for the year? Along with CPI data, investors are also bracing for the release of the number of US jobless claims. Coinbase stock price on Jan. 12, 2023 Markets Insider10.

☆ Indian shares tipped to fall ahead of Nov inflation data
▼ + stars: | 2022-12-12 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Dec 12 (Reuters) - Indian shares were set to fall on Monday, as traders braced for local retail inflation data, due later in the day, and a flurry of interest rate decisions by major central banks this week. India consumer price inflation for November likely cooled to a nine-month low of 6.40%, according to a Reuters poll. U.S. consumer inflation data for November, scheduled to be released on Tuesday, would also be keenly watched. read moreForeign institutional investors sold 1.58 billion rupees ($19.16 million) worth of equities on a net basis on Friday, while domestic investors bought 5.02 billion rupees ($60.88 million) worth of shares, as per provisional NSE data. ** PSP Projects (PSPP.NS): Co received a letter of intent for project worth 1.22 billion rupees from Nila Spaces.

☆ India's HCL Tech tumbles 6% after downbeat revenue forecast
▼ + stars: | 2022-12-09 | by ( ) www.reuters.com time to read: 1 min

BENGALURU, Dec 9 (Reuters) - Shares of HCL Technologies Ltd (HCLT.NS) fell as much as 6% on Friday, in their sharpest intraday drop since mid-May, after the IT services firm said it expects revenue for the full year to be at the lower end of its guidance. Speaking in New York on Thursday, HCL Chief Executive C. Vijayakumar said he expects revenue growth for the year ended March 31, 2023 to be at the lower end of its 13.5%-14.5% guidance due to furloughs and drop in spending in some sectors. Reporting by Akansha Victor in Bengaluru; Editing by Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

BENGALURU, Dec 9 (Reuters) - Indian shares reversed early gains on Friday, dragged by information technology stocks, after HCL Technologies warned of a potential slowdown in client spending in the industry's key U.S. markets as recession fears weighed. read moreAll the top losers in the Nifty 50 index were information technology stocks, with HCL Tech, Infosys, Tech Mahindra, Wipro and TCS, leading the decline. Most of the other sectors, however, gained as an overnight slide in oil prices and the easing of China's COVID-19 curbs limited losses. The Nifty PSU (.NIFTYPSU) index rose over 1%, on course to advance for the seventh day in a row, if gains hold. Oil prices stabilised, but still hovered around 2022 lows, after slipping for the fifth day in a row on Thursday.

☆ India's HCL Technologies raises 2023 revenue growth target on order strength
▼ + stars: | 2022-10-12 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Oct 12 (Reuters) - IT services firm HCL Technologies Ltd (HCLT.NS) on Wednesday raised its full-year revenue growth forecast and reported a 7.1% rise in September-quarter profit, helped by a rise in new order wins. The Noida-based company raised its fiscal 2023 revenue growth forecast to 13.5% to 14.5% from 12% to 14% on a constant currency basis, citing strong order bookings and pipeline. Indian IT services companies' profit jumped last year as they rode the pandemic-driven demand, but results this quarter have been mixed. read more read moreRecession-wary U.S. and European clients are expected to tighten their budgets, which will hit profits at Indian IT services firms. HCL said its net profit rose 7.1% to 34.89 billion Indian rupees ($424.18 million) for the second quarter.

☆ INDIA STOCKS Indian shares rise as oil prices decline; inflation data eyed
▼ + stars: | 2022-10-12 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Oct 12 (Reuters) - Indian shares opened higher on Wednesday, as a fall in global oil prices boosted sentiment, while investors awaited domestic retail inflation data and quarterly earnings results from IT firm Wipro later in the day. India, the world's third-biggest importer and consumer of oil, benefits from a fall in prices as it brings down imported inflation. On Tuesday, both the indexes had closed at a one-week low - marking their third straight session of losses - on the back of risk aversion globally. Markets also awaited U.S. inflation data on Thursday that kept investors on edge. Register now for FREE unlimited access to Reuters.com RegisterReporting by Rama Venkat in Bengaluru; Editing by Neha AroraOur Standards: The Thomson Reuters Trust Principles.

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