TCS outsourcing net profit up

Tata Consultancy Services (TCS) reports that its net profit for the 2009-10 financial year increased by 29.01% to $1.45 billion, states BusinessWeek.

"Our volumes have grown and our margins are at near historic highs. Strong volume growth of 17% during the year has rounded off an exceptional year for the TCS," says N Chandrasekran, TCS CEO and MD.

The TCS result has fostered optimism in India's outsourcing industry which was affected by the recession, indicating that it has bounced back and may soon see a surge of business.

Philippine Airlines (PAL) plans to retrench more workers as it looks to outsourcing two departments, writes BusinessWorld.

Jaime Bautista, PAL president and chief operating officer, says the airline is considering outsourcing its medical and IT departments. PAL has already outsourced its in-flight catering, airport services and call centres.

The company is in the process of finalising contracts with several service providers that will handle catering, ground, and call centre services. Over 3 000 employees will be affected by the first round of retrenchments.

TelstraClear plans to outsource the work done by two of its call centres in Paraparaumu and Christchurch, says Stuff's Business Day.

The firm recently conducted a feasibility study of outsourcing, which would see the loss of 170 jobs at the sites.

John Kerr, Engineering Manufacturing and Printing Union organiser says TelstraClear would speak to staff and the union at both call centre sites, with employees having standard redundancy provisions.