Thursday, March 22, 2012

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Tata Communications to hire 1,200 new staff, may raise debt

Tata Communications will recruit an extra 1,200 staff over the next 12 months in its outsourcing, sales and engineering divisions as it tries to turn around nearly three years of losses, the firm's CEO said on Wednesday.

The operator will also consider upping its debt if the potential returns justify it, Vinod Kumar, Tata Communications chief executive, told Reuters. Kumar declined to comment on the prospects of Tata buying Cable & Wireless Worldwide (CWW).

Tata said in a regulatory filing on March 1 its plans for an all-cash bid for CWW were "at a very preliminary stage", adding it would decide on whether to make an offer by March 29.

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