Press Esc to close
Wednesday 27 July 2016
News updated at 8:22 PM IST
Weather
Max: 29.1°C
Min : 20.1°C
In Bengaluru
Sunny day

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
Varun Dhawan, John Abraham and Jacqueline Fernandez during promotion of their upcoming movie...

Varun Dhawan, John Abraham and Jacqueline Fernandez during promotion of their upcoming movie...

A man dives to catch the ball during fotball practice in a public park in Kolkata...

A man dives to catch the ball during fotball practice in a public park in Kolkata...

CRPF personnel march during their 77th anniversary function at Kadarpur in Gurgaon on Wednesday....

CRPF personnel march during their 77th anniversary function at Kadarpur in Gurgaon on Wednesday....

Commuters walk with their belongings as buses were off the roads as the KSRTC employees' strike...

Commuters walk with their belongings as buses were off the roads as the KSRTC employees' strike...

Girls applying Henna in a competition organised as part of the Teej Festival at a school...

Girls applying Henna in a competition organised as part of the Teej Festival at a school...

Farmers cutting the ripened paddy plants in a flooded locality at Hajo in Kamrup district...

Farmers cutting the ripened paddy plants in a flooded locality at Hajo in Kamrup district...

Boys walk with an umbrella during rains in Srinagar on Wednesday...

Boys walk with an umbrella during rains in Srinagar on Wednesday...

A boy rows his makeshift raft in the weed covered Sabarmati river in Ahmedabad...

A boy rows his makeshift raft in the weed covered Sabarmati river in Ahmedabad...

A One-horned Rhino swims through flood waters in Kaziranga National Park in Assam on Wednesday...

A One-horned Rhino swims through flood waters in Kaziranga National Park in Assam on Wednesday...

Buffaloes being herded to a safer place from flood affected Singimari Village in Kamrup district...

Buffaloes being herded to a safer place from flood affected Singimari Village in Kamrup district...

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