TCS, HCL among front-runners for Pepsi outsourcing contract

Contract, held by HP, up for renewal later this year; may be split and handed out to more than one service provider. Tata Consultancy Services Ltd (TCS) and HCL Technologies Ltd are among the front-runners to win an outsourcing contract from PepsiCo Inc. valued at about $500 million (around Rs.2,925 crore today), according to two people familiar with the development.

The contract, held by Hewlett-Packard Co. (HP), will be up for renewal later this year. It is likely to be split and handed out to more than one service provider mostly for handling infrastructure management services, the two people said, requesting anonymity as they are not authorized to discuss these details.

Pepsi had signed the contract with HP, the world’s largest computer firm, in 2006 for a total value of $100 million for managing its information technology (IT) and data centre operations, according to outsourcing advisory firm Everest Group. Pepsi also has outsourcing agreements with International Business Machines Corp., or IBM, which runs the finance and administration processes of the soft drink maker’s Indian arm.
Source: LiveMint

Syntel Named in IAOP's 2013 Global Outsourcing 100

Syntel, Inc. (Nasdaq:SYNT), a global information technology services and Knowledge Process Outsourcing (KPO) company, today announced that it has been ranked in The 2013 Global Outsourcing 100® by the International Association of Outsourcing Professionals (IAOP). Syntel has moved up seven places over the 2012 rankings to #31.

Syntel was named to IAOP's annual list of the world's best outsourcing service providers for the seventh consecutive year and was included on several sub-lists that recognize providers for their specialization in particular industry and service segments. Source: GlobeNewsWire

TCS boss' salary to rise by half

CEO and MD N Chandrasekaran will now get a monthly salary of Rs 15,00,000 with effect from April 1, 2014. Tata Consultancy Services (TCS), India’s largest information technology services firm, has decided to revise the monthly salary of Chief Executive Officer (CEO) and Managing Director N Chandrasekaran by half to Rs 15 lakh. The revised salary will be applicable with effect from April 1 next year.

“Taking into consideration, the increased business activities of the company and the responsibilities cast on N Chandrasekaran, the Board has revised his maximum limit of salary from Rs 10,00,000 a month to Rs 15,00,000 a month, with effect from April 1, 2014,” the company said in its annual report for 2012-13. It also said the proportionate increase would also be applicable to the other benefits he was getting.

Tech Mahindra appoints Milind Kulkarni as CFO

IT services firm Tech Mahindra today appointed Milind Kulkarni as the Chief Financial Officer (CFO) replacing Sonjoy Anand, who decided to pursue opportunities internationally.

The firm also announced the appointment of Manoj Bhat as the Deputy Chief Financial Officer.

Milind Kulkarni has been Senior Vice President, Finance till now and will take charge as the new CFO with immediate effect, the firm said in a BSE filing.

Wipro to hire 1,000 employees in Germany over the next three years

IT services major WiproBSE 0.00 % Ltd on Wednesday said it will triple its headcount in Germany by hiring over 1,000 people over the next three years with an aim to expand its operations in the key European nation. According to industry estimates Germany's IT market size stood at around $80 billion last year.

"Wipro plans to triple its employee strength in Germany over the next three years, by hiring over 1,000 professionals," the company said in a release.

At present, the Bangalore-headquartered firm has over 500 employees in Germany, which serve more than 30 clients. It has 145,000 employees across 98 countries as on March 31, 2013.

Source: Economic Times

A million engineers in India struggling to get placed

A million engineers in India struggling to get placed in an extremely challenging market. Somewhere between a fifth to a third of the million students graduating out of India's engineering colleges run the risk of being unemployed. Others will take jobs well below their technical qualifications in a market where there are few jobs for India's overflowing technical talent pool. Beset by a flood of institutes (offering a varying degree of education) and a shrinking market for their skills, India's engineers are struggling to subsist in an extremely challenging market.

According to multiple estimates, India trains around 1.5 million engineers, which is more than the US and China combined. However, two key industries hiring these engineers -- information technology and manufacturing -- are actually hiring fewer people than before.

For example, India's IT industry, a sponge for 50-75% of these engineers will hire 50,000 fewer people this year, according to Nasscom. Manufacturing, too, is facing a similar stasis, say HR consultants and skills evaluation firms. Source:Economic Times