Showing posts with label LPO. Show all posts
Showing posts with label LPO. Show all posts

Thursday, December 18, 2008

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Layoffs and New Openings in India - Dec 17th: Update


Tanla Solutions layoffs more than 100 people in Hyderabad

Mastek Ltd layoffs an 'unspecified' no. of people in Mumbai

Citi Financial Layoffs around 100 people in Delhi

Tough days ahead: Premji
BANGALORE: Wipro Chairman Azim H Premji has contended that economic recession may intensify as the nation goes forward and called for a strong foundation to counter the recession. 

"The situation is tough and the situation will continue to get tougher. We are coming into a situation of a reset of the world with a situation which is going to get ruthlessly tough," said Premji at the meet of The Indus Entrepreneurs (TiE) 2008, a non-profit organisation, (TES 2008). 

New Openings/Deals:
Accentia to hire 5,000
Healthcare solutions provider Accentia Technologies said it has bagged an order worth 22 million dollars (about Rs 104 crore) to provide services to a chain of hospitals in the US.

TCS to hire 3,500 in China 
Tata Consultancy Services (TCS) said it planned to hire over 3,500 people in China over the next four years to grow its business there and tap the country's large pool of engineers.

UK booster for Indian Law Process Outsourcing (LPO)
LONDON: In a dramatic shift, ten of England's top 30 law firms have outsourced back office functions or legal work to India, a consulting firm claimed in a report today. As RSG showed, clients too are outsourcing legal work. Deutsche Bank, BT, Sun Microsystems among others, are presented as case studies. 

Offshoring to hit IT biggies such as TCS, Wipro, Satyam and HCL
BANGALORE : Top Indian tech firms such as TCS, Wipro, Satyam and HCL will see their earnings before interest, taxes, depreciation and amortisation (EBITDA) margins -- a measure of operating profit--plunge below 20 per cent over the next three years, as these companies move more information technology projects to India, and align their operations with rising wages. Leading outsourcing customers such as GE, Royal Bank of Scotland and Bank of America plan to increase their offshore outsourcing in order to lower their cost of managing IT in the US and UK, where billing rates are more than twice of what can be achieved by sending work to offshore locations such as India.

TCS to provide technology for top Australian pension fund operator
Tata Consultancy Services Limited (TCS) has been chosen as prime systems integrator for a new core administration platform at Superpartners, the largest retirement fund administrator in Australia. The project is expected to be completed in less than 15 months, TCS said in a release, without giving the value of the contract.