Signs of global economic recovery are now becoming more evident with software companies unveiling big hiring plans this year.
For starters Tata group company Tata Consultancy Services has said it plans to hire 25,000 people globally this year. Though the number sounds huge it is 10,000 less than the number of people TCS hired last year.
While ninety per cent of the new hires will be from India TCS is targeting revenues of $ $10 billion globally in the next couple of years.
The company which has a large presence in metros like Bangalore, Hyderabad and Mumbai is also planning to move into Tier II cities as it requires more space to accommodate the new hires.
According to Tanmoy Chakrabarty vice-president and head of the government industry solutions unit at TCS said, ''Tier II cities are our focus for expansion in the country as the top rung are clogged and saturated for space.''
With the Indian government planning to spend Rs 40,000 crore on IT services for the masses and allied projects the company is actively looking into this space for more business. TCS is targeting to achieve 10 per cent of its total revenue from these projects in the next three years.
Chakrabarty said, ''Currently, our revenue from government projects is very small and we want to raise it to at least 10 per cent of our total revenue in the next three years.''
TCS last year recorded total revenue of $6 billion and it expects to increase it to $10 billion in the next few years. Out of its total revenue, 70 per cent comes from domestic operations and the rest comes from the global markets. The company has an employee strength of 145,000 people.