New Delhi, Jun 4 (PTI) Tata Consultancy Services, the country's largest software company, may sack as many as 290 employees at its Finland office, a move that the workers say is an attempt to shift jobs to India. TCS, which has a registered office in Helsinki and has an employee strength of about 80 ...
Industry sources said the lay-off may be part of the deal that Nokia has signed with TCS and HCL Technologies earlier this year.
Most Indian IT firms work as system integrators for Huawei and though the exposure is very less as of now, the potential is more due to 5G roll out. As pressure to keep the Chinese firm out of the 5G network grows, other global firms, including Japan's NEC, South Korea's Samsung, Finland's Nokia and Sweden's Ericssion are increasing their investments to grab more market share in the telecom sector.
Most Indian IT firms, including TCS, Wipro, Infosys, Mindtree, Infotech and Sasken, which started their operations in the region with a small base, have expanded their base fast.
Investors turn their attention to export-driven sectors.
Capital goods shares continued to trade firm in late noon despite weak market trend on the back of encouraging core sector growth in February.
The Sensex ended 290 points higher at 29,095 mark and the Nifty gained 94 points to close at 8,806 levels.
