Source: BusinessStandardGlobal IT major Tata Consultancy Services (TCS) is understood to have shelved plans to increase its headcount in Australia to around 2,000 by the end of this year. The reason: The ongoing financial crisis.
TCS had dropped plans to boost its headcount in Australia even though it recorded double-digit revenue growth, according to reports and blog posts from the country.
The Tata group company employed around 950 people in Australia at the end of the previous year, but around 50 have since been relocated to India. This puts TCS’ total employee base in that country at around 900, reports say.
A TCS spokesperson said: “Australia continues to be a significant growth market for TCS. Given the uncertainty in the global economy, TCS will grow its staff strength in line with the business growth there. Under the current context, with customers looking at offshoring as an effective value proposition, we are likely to see an increase in people servicing Australian customers in India.”
In January, TCS Asia-Pacific Head and Regional Director, Girija Pande, had said that the company planned to double the number of workers in Australia by the end of the year.
In Australia, TCS provides near-shore, high-profile technology services.