Following the 1300 jobs cuts it announced worldwide, Helsinki, Finland-based IT services company Tieto Corporation is looking to provide full lifecycle of IT services in consulting and system integration, along with product engineering. Out of its 18000 global workforce, 1700 or about 10% work in India, where it will not cut jobs, but will focus on enhancing productivity.
“”This is a part of our global strategy for 2012-2016,”” Kimmo Alkio, president and CEO, Tieto, said at the company’s Pune centre, which houses 1600 people. “”We want to become price and cost competitive and increase profitability to 10%. We also want to increase the revenue contribution of consulting and system integration to 25%, from the less than 20% currently,”” he said. A profitability of 5% is normal for companies in Europe unlike in India where anything less than 20% sounds a wake up call…
Source:
Read More @ Tieto to increase productivity of India workforce; no job cuts here – The Economic Times.
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