People come to India for its talent, not to cut costs: Capgemini global CEO Aiman Ezzat
Capgemini and a solid base for it to service clients globally, Capgemini global CEO Aiman Ezzat told ET. The company has more than half of its 360,000 employee base in India. In an interview with Romita Majumdar, the chief of the $23-billion IT company, during his ongoing India visit, said that he is hopeful of the demand situation improving over the next two-to-four quarters but is waiting for an inflection point. Ezzat added that generative AI's impact on productivity gains will be much higher than pricing gains in the long run. Edited excerpts:
How do you see technology spending in the current macroeconomic situation?
It is pretty mixed at present. There is softness in some places but not everything is doomed. The reality is that our pipelines are huge and that shows the appetite for technology and transformation.
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Europe has been more resilient. There is a bit more softness in the US. We have been preparing for this scenario since the end of last year and we anticipated the deceleration. The sectors facing the biggest rationalization are tech, telecom and financial services which are big for us in the US.
We can see plenty of positive signs but what I'm looking for is an inflection point because that will really be the real restoration (of demand).
Capgemini has gone slow on hiring over the past year. When will hiring be back on track for laterals as
