TCS to hire about 50,000 in FY-2012: CEO

Tata Consultancy Service (TCS), India's top software services exporter, is seeing good demand for

RELATED ARTICLES

outsourcing services across sectors and expects client spends to be better in fiscal 2012, its chief executive said.

N Chandrasekaran , who is also the managing director of TCS, said IT outsourcing demand in Europe was recovering but was "slightly behind the curve", while outlook for North America, its largest exports market, remained strong.

"What I see on the ground is the spend is increasing. Fiscal 2012 will be a better year...better for growth," Chandrasekaran told reporters on Monday, adding he expected pricing to move up as demand for outsourcing increases.

TCS, whose clients include Citigroup and General Electric, has not seen any business impact from the unrest in Middle East and North Africa, he said.

Chandrasekaran also said the company would recruit as many or slightly less than about 50,000 it hired last year.

In January, TCS posted a market beating 30-percent rise in quarterly profit as it saw the highest client additions in seven quarters.

Demand for services offered by TCS and rivals Infosys and Wipro are seen rising, but a firmer rupee, rising wages, macroeconomic uncertainties and intensifying competition from global firms such as IBM and Accenture are key risks for the sector.

Last month, TCS said it expects to garner $1 billion revenue over five years by providing technology solutions to small-and-medium business units, an area where its revenue now is 'practically negligible.'

Shares of the company closed 2.27 percent lower on Monday at Rs 1108.75.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Amit Shah deserved to be crowned President of India, some say

    The Bharatiya Janata Party is now firmly in the hands of Modi’s alter ego, which in plain English means ‘another side of oneself, a second self’

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Arun Nigavekar

Necessary yet inadequate boost to education

The finance minister, in the very first minutes of his ...

Zehra Naqvi

We must overcome the fear of death

It is the biggest irony that the only thing that’s ...

Dharmendra Khandal

Jawai leopards and locals can coexist peacefully

At first glance, the Jawai landscape seems like a large ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture