The Indian Outsourcer to Watch is Based in Teaneck
(This post originally referred incorrectly to HCL Technology. The correct name is HCL Technologies.)
Indian outsourcers are getting ready for more growth. Indian newspaper The Economic Times reports today that the big five IT services companies—Tata Consultancy Services, Cognizant, Infosys, Wipro, and HCL Technologies—are on a hiring spree, adding tens of thousands of new workers in India. Their net headcount increased by 114,000 in the nine months ending in December, 2010. That compares to just 47,000 in the same period the year before. In part, the strong hiring is because of the low-base effect: In 2009, Indian companies were still coping with the uncertainty of the global financial crisis and were being cautious about adding employees. However, the growth is also a sign that the Indian outsourcers expect more business coming their way soon.
Ironically, the company to watch here isn’t even Indian. Cognizant’s stock price has gone up 58 percent since July 2010 and the stock got another boost on Thursday after Goldman Sachs said Cognizant (CTSH) was one of its top picks in the IT services sector. Cognizant’s home office is in Teaneck, New Jersey and the stock is traded on Nasdaq, but it has a major presence in India and it’s growing in the country. Last month, the company announced it will invest more than $500 million in four Indian cities through the end of 2014. That will give it space for 55,000 workers. With a workforce at the end of 2010 of 104,000 workers, Cognizant is going to be giving India’s big outsourcing companies even more of a scare in the months and years ahead.
Read more at BusinessWeek Eye on Asia Blog
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).