India’s largest IT services firm and second most profitable organization Tata Consultancy Services (TCS) has announced that over the next year it will recruit 1,500 technology employees across the UK.
There was a meeting on Monday in Mumbai between visiting UK Trade Secretary Liz Truss and TCS CEO, Rajesh Gopinathan. The announcement came after the meeting in which they discussed the company’s commitment to continue investing in UK’s economy, innovation, technology sector, and in developing workforce skills.
TCS’s Contribution To UK : CEO
At the end of FY20, TCS added GBP 2.7 billion (Rs 270 crore) to its revenue due to UK, where the company has its presence over a period of 45 years now. As a matter of fact, it is also second largest software and IT services companies in UK. In the life insurance and pensions industry, TCS is the largest provider of third-party policy administration services.
CEO & MD of TCS, Rajesh Gopinathan that the development builds on the great work TCS is delivering to our UK customers. TCS, has helped businesses in UK to digitally transform themselves for competitive growth and that the sustained investments have made TCS the preferred growth and transformation partner of UK based customers.
TCS, Infosys, Wipro and HCL Technologies: All Hiring From UK
As far as hiring is concerned, there are other players too, who have jumped on the bandwagon. Infosys, Wipro and HCL Technologies are also increasing the number as far as their onshore presence is concerned, after securing large deals in Europe. Most of the large deals have also meant rebadging of employees as per the analysts. It may also mean that these deals have a large number of people take over.
To give an instance of the same, a transfer of 600 employees from the German automaker Daimler was made to Infosys when the IT major signed $3.2 billion deal with the German automaker, one of the largest deal ever made by the company. Post a $700 million deal, close to 1,300 employees from Germany, Romania and India were transferred from Metro to Wipro.
Close to 1,500 staff of Pramerica were also transferred to TCS, when TCS acquired select assets of Pramerica Systems Ireland, an subsidiary of Prudential Financials.
Due to language barrier as well as presence of large labour unions, for the Indian players it has been a challenge to have a presence in Continental Europe.
Founder and lead analyst of EIIRTrend, Pareekh Jain said that as companies are making more employee transfers than employee firings while focusing on their core and working closely with their IT partners. He added that rebadging of employees is becoming an integrated part of large deals.
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