Bengaluru-based IT outsourcing services provider MphasiS, an EDS company, is reducing hiring plans by almost 50 per cent.
At the beginning of this financial year, the company had guided the Street that it would recruit around 8,000 people. It now plans to recruit just 4,000.
MphasiS has historically been strong in the banking, financial services and insurance space. It derives over 40 per cent of its revenue from this sector. Two of the world's top five brokerage firms are its clients. AIG, which was recently bailed out by the US government, is also one among its customers.
Earlier this week, Hewlett-Packard -- which bought IT services company EDS last month -- said it would make 24,600 staff redundant over three years.
clipped from www.rediff.com
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