Press Esc to close
Sunday 25 September 2016
News updated at 2:16 PM IST
Weather
Max: 25.8°C
Min : 19.6°C
In Bengaluru
Generally cloudy

Infosys, TCS bag IT contract from US-based utilities firm

New Delhi, Oct 3, 2013 (PTI)
Reuters file image

India's largest software firms Infosys and Tata Consultancy Services (TCS), have bagged a contract from US-based Northeast Utilities to manage a part of its IT department, a source said.

Northeast Utilities, which operates New England's (in the northeastern corner of the US) largest utility system serving over 3.6 million electric and natural gas customers in Connecticut, Massachusetts and New Hampshire, plans to cut 200 jobs over the next six months as it seeks to reduce costs.

"Northeast Utilities is eliminating 200 jobs from its IT department, which has a strength of about 400, and over 40 of these jobs will shift overseas to Infosys and TCS," the source said.

Financial details about the deal were not immediately available.

When contacted, a Infosys spokesperson said: "We do not comment on client engagements."

TCS declined to comment on the matter, saying the company is in its silent period ahead of its second quarter results.

Meanwhile, Northeast Utilities Executive Vice President and Chief Administrative Officer David McHale in a conference call said the utility will cut 200 positions of the total 400 IT-department jobs. Of the jobs being eliminated, 40 will continue working for two partner companies based overseas.

At present, 70 per cent of the total IT workforce of the US firm is based in Connecticut.Shares of TCS rose by over 4 per cent and Infosys inched by around one per cent on the BSE today.

Last week, Infosys and software giant IBM won a 300 million euro (about Rs 2,535 crore) contract to develop the computer system for the UK-based bank Williams & Glyn's.

The bank (Williams & Glyn's), which was dormant for about 30 years, is being revived by UK-based lender the Royal Bank of Scotland Group Plc (RBSG). The bank is part of the RBS Group and is scheduled to launch operations by 2015.


Go to Top

Photo Gallery
Army personnel arrive to help flood affected people in Hyderabad...

Army personnel arrive to help flood affected people in Hyderabad...

Prime Minister Narendra Modi with BJP President Amit Shah wave to the crowd at public rally...

Prime Minister Narendra Modi with BJP President Amit Shah wave to the crowd at public rally...

Thangavelu Mariyappan who won the gold in the Paralympics in Rio de Janeiro...

Thangavelu Mariyappan who won the gold in the Paralympics in Rio de Janeiro...

A view of regular traffic during relaxation given by authorities and separatists from strike...

A view of regular traffic during relaxation given by authorities and separatists from strike...

A truck hangs mid-air after breaking the railing of a road bridge over Manjira river in Medak...

A truck hangs mid-air after breaking the railing of a road bridge over Manjira river in Medak...

Cricketer M.S. Dhoni at the launch of refurbished edition of Maruti Suzuki's Alto 800...

Cricketer M.S. Dhoni at the launch of refurbished edition of Maruti Suzuki's Alto 800...

An artist takes selfie with other artists in Ahmedabad on Saturday...

An artist takes selfie with other artists in Ahmedabad on Saturday...

Indian Space Research Organisation's PSLV-C35 ready to be launch on Saturday with SCATSAT-1...

Indian Space Research Organisation's PSLV-C35 ready to be launch on Saturday with SCATSAT-1...

People participate in a protest by Maratha Karnti Morcha against Kopardi Rape case in Nashik...

People participate in a protest by Maratha Karnti Morcha against Kopardi Rape case in Nashik...

Soldier carrying weapon at a location near the Indo-Pak border in Jammu...

Soldier carrying weapon at a location near the Indo-Pak border in Jammu...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523