Country's top software exporter Tata Consultancy Services said that it aims to double its revenues from the Indian market to $1 billion in the next 3-4 years.
"India has been one of the important markets. We are looking at whether in next 3-4 years we can double our revenue to billion dollars in the Indian market," TCS CEO S Ramadorai said.
At present, the domestic market contributes 10 per cent to the total revenue.
"Every mission mode project (government) that would come on the radar, we will certainly bid for them. TCS is in talks for 3-4 such mission mode projects as of now," Ramadorai said.
"When we look at the domestic market we look at three pillars -- large enterprises, governments - both the central and state governments -- and the third is the small and medium businesses which are part of our overall growth," he added.
Of the three, he expects the large enterprises to contribute more than the other two, followed by the government and the SMB sector.
Agencies
Showing posts with label software exporter. Show all posts
Showing posts with label software exporter. Show all posts
Saturday, August 29, 2009
Monday, March 9, 2009
Has TCS extended working hours?
Tata Consultancy Services (TCS) has increased its working hours to 45 hours per week from 40 hours effective April 1. This effectively means that employees will have to put in an hour more every day.
The biggest software exporter has also decided to fire around 1,300 employees or 1 per cent of its global workforce this year. This roughly works around one percent of its global workforce.
These employees failed to meet performance standards, according to a company spokesperson said.
About 100 employees have already been sacked in Chennai alone in the last two weeks, sources in TCS told the media.
This comes in the wake of recent announcements by the company’s MD S Ramadorai 10 days back that variable pay of employees is being reviewed this year, to counter the tough economic situations across the globe.
The IT major has also increased working hours to 45 hours per week from 40 hours effective April 1. The TCS sources said in the last two weeks alone the company has sacked about 100 people after they were found wanting in their performance appraisal.
Agencies
The biggest software exporter has also decided to fire around 1,300 employees or 1 per cent of its global workforce this year. This roughly works around one percent of its global workforce.
These employees failed to meet performance standards, according to a company spokesperson said.
About 100 employees have already been sacked in Chennai alone in the last two weeks, sources in TCS told the media.
This comes in the wake of recent announcements by the company’s MD S Ramadorai 10 days back that variable pay of employees is being reviewed this year, to counter the tough economic situations across the globe.
The IT major has also increased working hours to 45 hours per week from 40 hours effective April 1. The TCS sources said in the last two weeks alone the company has sacked about 100 people after they were found wanting in their performance appraisal.
Agencies
Saturday, February 28, 2009
Minimum pay hikes for Infosys employees this year
Infosys Technologies, India's No. 2 outsourcer, would hand out minimum wage rises in April to its staff, its chief executive Kris Gopalakrishnan said on the sidelines of an industry conference.
"This is going to be a prolonged downturn," he said referring to the global economic slowdown.
The company expects IT services business to be slow in the foreseeable future as clients delay technology spending amid the global economic crisis, he added.
India's large pool of English-speaking engineers and cheaper wages has helped attract outsourcing from Western firms such as Citigroup, General Electric, Qantas and Airbus. But a recession in the United States, which accounts for more than half the sector's revenue, and turmoil in the global financial sector have halted the sector's scorching pace of growth and battered stocks.
"The environment continues to be challenging," Gopalakrishnan said. "The feedback we are getting from clients are that the budgets are going to be down, in some cases significantly down," he said of likely technology spending by the firm's customers.
"They are also saying that when the budgets are released there will be a delay in spending."
India's exports of software and services in the year to March will be sharply below an earlier forecast, expanding 16-17 per cent to about $47 billion, the National Association of Software and Service Companies said earlier this month.
On US President Barack Obama's pledge to end tax break for companies that send US jobs overseas, Gopalakrishnan said the Indian IT companies would wait to see how the proposal was implemented.
"My take on it is of course protectionism will only prolong the downturn," he said. "This is a challenge which we all have to face collectively."
Agencies
"This is going to be a prolonged downturn," he said referring to the global economic slowdown.
The company expects IT services business to be slow in the foreseeable future as clients delay technology spending amid the global economic crisis, he added.
India's large pool of English-speaking engineers and cheaper wages has helped attract outsourcing from Western firms such as Citigroup, General Electric, Qantas and Airbus. But a recession in the United States, which accounts for more than half the sector's revenue, and turmoil in the global financial sector have halted the sector's scorching pace of growth and battered stocks.
"The environment continues to be challenging," Gopalakrishnan said. "The feedback we are getting from clients are that the budgets are going to be down, in some cases significantly down," he said of likely technology spending by the firm's customers.
"They are also saying that when the budgets are released there will be a delay in spending."
India's exports of software and services in the year to March will be sharply below an earlier forecast, expanding 16-17 per cent to about $47 billion, the National Association of Software and Service Companies said earlier this month.
On US President Barack Obama's pledge to end tax break for companies that send US jobs overseas, Gopalakrishnan said the Indian IT companies would wait to see how the proposal was implemented.
"My take on it is of course protectionism will only prolong the downturn," he said. "This is a challenge which we all have to face collectively."
Agencies
Is more layoffs planned by TCS at its UK centre?
Just a day after the report of India’s biggest software exporter TCS laying off several employees at its UK office, comes a report that the company has put another 130 employees under scanner.
According to a report in a business daily, the 130 employees are said to be working for its UK-based insurance client Legal and General’s (L&G’s).
In June 2008, TCS signed a five-year agreement with L&G to provide IT managed services. Under this, TCS was to provide application development and support services from the client's premises plus TCS' new delivery centre based in UK.
Earlier reports said that Mumbai-based TCS laid off most of its marketing team in London, plus a large number of professionals in the consulting division. According to sources, the targets were mainly the high-end consultants who are said to be an expensive lot to keep on the bench, and marketing.
Giving reasons for the over 100 layoffs in the UK office, TCS CEO & MD S Ramadorai said that either the contracts of these employees had ended, or can be due to bad performance. He added that going forward in the year, a lot of emphasis will be on employee efficiency.
This week, the IT major also accepted that it may go for further job cuts to tackle global economic downturn. The company also ruled out salary hikes next year.
Ramadorai said, "There would be no hike in salaries in the forthcoming year" and added that "job cuts are possible if the situation worsens".
Adding further that TCS has frozen "lateral intake" he said the company is reviewing variable pay component on employee salaries.
The variable pay component of TCS employees differs between 22 per cent and 35 per cent of his/her gross salary, depending on employee rank, he said.
Variable pay represents eight percent of the total revenue of TCS, whose headcount is 1.3 lakh. Ramadorai said the company is also looking into all aspects of cost reduction, including capex and infrastructure.
Unconfirmed reports also suggest that the company is planning to increase its working hours by 10-15 per cent over the current 40-hour, five-day week cycle.
Agencies
According to a report in a business daily, the 130 employees are said to be working for its UK-based insurance client Legal and General’s (L&G’s).
In June 2008, TCS signed a five-year agreement with L&G to provide IT managed services. Under this, TCS was to provide application development and support services from the client's premises plus TCS' new delivery centre based in UK.
Earlier reports said that Mumbai-based TCS laid off most of its marketing team in London, plus a large number of professionals in the consulting division. According to sources, the targets were mainly the high-end consultants who are said to be an expensive lot to keep on the bench, and marketing.
Giving reasons for the over 100 layoffs in the UK office, TCS CEO & MD S Ramadorai said that either the contracts of these employees had ended, or can be due to bad performance. He added that going forward in the year, a lot of emphasis will be on employee efficiency.
This week, the IT major also accepted that it may go for further job cuts to tackle global economic downturn. The company also ruled out salary hikes next year.
Ramadorai said, "There would be no hike in salaries in the forthcoming year" and added that "job cuts are possible if the situation worsens".
Adding further that TCS has frozen "lateral intake" he said the company is reviewing variable pay component on employee salaries.
The variable pay component of TCS employees differs between 22 per cent and 35 per cent of his/her gross salary, depending on employee rank, he said.
Variable pay represents eight percent of the total revenue of TCS, whose headcount is 1.3 lakh. Ramadorai said the company is also looking into all aspects of cost reduction, including capex and infrastructure.
Unconfirmed reports also suggest that the company is planning to increase its working hours by 10-15 per cent over the current 40-hour, five-day week cycle.
Agencies
Sunday, February 15, 2009
World Bank says eight-year ban on Satyam can be reviewed !
Giving some hope to crisis-ridden Satyam, the World Bank has said it could review the eight-year ban imposed on the company provided the software exporter takes "corrective action".
A World Bank official said Satyam has to show it has again become a responsible vendor to do business with, when asked whether the multilateral lending agency would relax the ban on the software exporter.
"The vendor would have to demonstrate (that) corrective action had been taken to address the original causes of the ... ineligibility," a World Bank official from Washington said in an emailed statement.
The official further said action should substantiate that Satyam is "again a responsible vendor with whom the Bank can do business".
The World Bank banned Satyam Computer Services for eight years in 2008 for providing "improper benefits" to Bank staff and for failing to maintain records relating to fees charged for sub-contractors.
Satyam has a strong case for a review of the ban since its old board and management have been changed after its disgraced founder Chairman B Ramalinga Raju admitted to fudging accounts to the tune of Rs 7,800 crore.
Agencies
A World Bank official said Satyam has to show it has again become a responsible vendor to do business with, when asked whether the multilateral lending agency would relax the ban on the software exporter.
"The vendor would have to demonstrate (that) corrective action had been taken to address the original causes of the ... ineligibility," a World Bank official from Washington said in an emailed statement.
The official further said action should substantiate that Satyam is "again a responsible vendor with whom the Bank can do business".
The World Bank banned Satyam Computer Services for eight years in 2008 for providing "improper benefits" to Bank staff and for failing to maintain records relating to fees charged for sub-contractors.
Satyam has a strong case for a review of the ban since its old board and management have been changed after its disgraced founder Chairman B Ramalinga Raju admitted to fudging accounts to the tune of Rs 7,800 crore.
Agencies
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