Major boost to the Indian IT industry – Deals with British Petroleum
By Poonam Singhal at 9 September, 2009, 2:46 am
British Petroleum, one of the world’s largest integrated oil and gas company, has signed a $1.5bn deal with India’s leading technology companies. This comes at a time when the Indian IT industry is just waiting for a boost. This 5 year deal signed will be shared by the major Indian players like TCS, Infosys, Wipro. Reports say that TCS may bag $350-400 million of this deal. Infosys may bag around $200 million. Even earlier, the IT infrastructure management of the petroleum giant was outsourced to a number of vendors over the world, including a few Indian companies. However, BP is now looking at reducing its IT cost by 30% and hence consolidated its operations with a few IT vendors. From approximately 20 vendors earlier, BP has consolicated to 5 vendors now, out of which 3 are Indian companies. This consolidation will surely give Indian IT industry the ….
Read More >>TCS to hire 25,000 more software professionals
By Manoj Govindassamy at 5 September, 2009, 10:58 am
… India is in recession or growth slow down period ? Did you hear, what TCS (Tata Consultancy Services) has announced few days back ? TCS is hiring 25,000 people globally in fiscal year 2009 and 90% of them in India alone. Be it in Quarter revenue results or people hiring, TCS is continuously exceeding the market expectation. Oe of the top… less number of hiring for them in this fiscal year. Also, it was said they are going to start IT operations in Tier 2 cities, as their existing offices in metros like chennai, bangalore, hyderabad, mumbai, kolkatta can’t accommodate such a huge new numbers. Meanwhile, they have been very active in campus recruitment also this year, who would join … usually visit top 25 colleges in and around TamilNadu in the first few slots and grad the creamy layers. Last year campus recruits’s joining dates were delayed by 6 months or so. Now, it is been heard they have been receiving joining calls in stages. With additional 25,000 head count, TCS’s total IT army would be around 1.8 lakhs, which …
Read More >>Satyam might layoff 5000 to 8000 more employees to keep Tech Mahindra boat afloat
By Manoj Govindassamy at 25 August, 2009, 1:10 pm
…. For the past few months, Tech Mahindra carried out several cost cutting measures at Satayam to keep the company healthy at margins. Also, Tech Mahindra has been working on a plan to discharge this expensive debt by borrowing funds from a cheaper source, including institutions.Sources say,Satyam’s revenue is around $100 million USD (around Rs 475 crores ) per month…. These people are mostly not in the billed resources and includes more fresh employees.People have started vacating Satyam at fast pace…. Recently Keshab Panda, who was heading its US business, has put in his papers.Sources say, on a revenue base of about $1-1.2 billion this year, a margin of about 8-10% is the max possible at the current situation for the scam hit Satyam.To get a margin of about 15% and to clear off the debt faster, Tech Mahindra has no other choice but to use the axe again on its employees…. Lets hope Satyam come out of the dark age soon and keep its parent boat Tech Mahindra afloat…..
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