Press Esc to close
Saturday 25 October 2014
News updated at 6:49 PM IST
Weather
Max: 27°C
Min : 19.2°C
In Bangalore
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
Mrs. Komal Kalra Pagarani who is all set to represent India...

Mrs. Komal Kalra Pagarani who is all set to represent India...

Fire at Balaji Studio Killick Nixon Studios in Mumbai...

Fire at Balaji Studio Killick Nixon Studios in Mumbai...

Sikh religious warriors, display their horse-riding skills at an event organized to celebrate...

Sikh religious warriors, display their horse-riding skills at an event organized to celebrate...

Bollywood actor Shatrughan Sinha with his family during Amitabh Bachchan's Diwali party in Mumbai..

Bollywood actor Shatrughan Sinha with his family during Amitabh Bachchan's Diwali party in Mumbai..

Sachin Tendulkar and his wife Anjali with Abhishek Bachchan during Bachchans' Diwali party...

Sachin Tendulkar and his wife Anjali with Abhishek Bachchan during Bachchans' Diwali party...

Narendra Modi clicks photographs during the Diwali Mangal Milan programme at BJP headquarters...

Narendra Modi clicks photographs during the Diwali Mangal Milan programme at BJP headquarters...

Nitin Gadkari leaves after meeting RSS Chief Mohan Bhagwat at RSS headquarters in Nagpur...

Nitin Gadkari leaves after meeting RSS Chief Mohan Bhagwat at RSS headquarters in Nagpur...

Brother & Sister take holy dip in river Yamuna on the occasion of Bhai Dooj...

Brother & Sister take holy dip in river Yamuna on the occasion of Bhai Dooj...

Dhoni talks to Hockey India player Ashunta Lakra during launch of hockey team in Ranchi...

Dhoni talks to Hockey India player Ashunta Lakra during launch of hockey team in Ranchi...

Brother of Thailand's Prime Minister Payap Shinawatra takes part in Robe...

Brother of Thailand's Prime Minister Payap Shinawatra takes part in Robe...

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