{"id":833899,"date":"2024-07-18T10:28:05","date_gmt":"2024-07-18T04:58:05","guid":{"rendered":"https:\/\/telecomlive.in\/web\/?p=833899"},"modified":"2024-07-18T10:28:05","modified_gmt":"2024-07-18T04:58:05","slug":"state-street-costs-dip-on-insourcing-works-from-its-jv-with-hcltech","status":"publish","type":"post","link":"https:\/\/telecomlive.in\/web\/2024\/07\/18\/state-street-costs-dip-on-insourcing-works-from-its-jv-with-hcltech\/","title":{"rendered":"State Street costs dip on insourcing works from its JV with HCLTech"},"content":{"rendered":"<p>US financial services company State Street Corp, which earlier this year acquired HCLTech&#8217;s stake in their joint venture, said its cost towards compensation and employee benefits fell 2% in the April-June quarter, mainly due to a decrease in contractor spending associated with JV consolidations in India and lower salaries.<\/p>\n<p>State Street that completed the transaction on April 1 made the observation in a filing with the US Securities and Exchange Commission. HCLTech, meanwhile, posted a fall in revenue at its financial services vertical and has warned about headwinds in the segment in the July-September quarter as well due to State Street insourcing the business operation services provided by the JV.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>US financial services company State Street Corp, which earlier this year acquired HCLTech&#8217;s stake in their joint venture, said its cost towards compensation and employee benefits fell 2% in the April-June quarter, mainly due to a decrease in contractor spending associated with JV consolidations in India and lower salaries. State Street that completed the transaction on April 1 made the observation in a filing with the US Securities and Exchange Commission. HCLTech, meanwhile, posted a fall in revenue at its financial services vertical and has warned about headwinds in the segment in the July-September quarter as well due to State [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[59,4,10],"tags":[],"class_list":["post-833899","post","type-post","status-publish","format-standard","hentry","category-it-2-the-economic-times","category-newspapers","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/833899","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=833899"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/833899\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=833899"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=833899"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=833899"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}