TCS to hire 20,000 employees this quarter

Indian IT major Tata Consultancy Services (TCS) has plans to hire as many as 20,000 people this quarter, according to its CEO, N Chandrasekharan.

TCS also expects an improvement in its profit margins, as western clients look to increase spending on information technology to cut costs and boost efficiency.

The company is chasing 12 large deals in the United States, UK, and Europe, not to mention the additional deals in emerging markets.

It added 24 new clients in its first quarter, helping it post a forecast-beating 28-percent rise in net profit. It also added 3,576 net staff in the April-June quarter.

TCS posted 26.7 per cent rise in its net profit at Rs. 2,415 crore for the first quarter of FY 2011-12. The revenue grew by 31.4 per cent to Rs 10,797 crore for the period under review.

However, the company had posted Rs 2,623 crore profit in the last quarter of the previous fiscal.

via keralait.org