For the last fiscal, almost half of the revenues came through the BFSI and healthcare verticals for Covansys. The company, the subsidiary of Covansys USA, recruited heavily in India with its headcount registering a 61% growth compared to the previous year. Interestingly, during the same period, the company eased out 400 of its employees in the US. Hiring in India and firing in the US were part of its India-centric offshore delivery model which aims at facilitating more offshore capabilities. Meanwhile global revenues for Covansys stood at $378 million as compared to $383 million the previous year.
Eliminated low margin customers
Upped its offshore development capabilities
l President & CEO: K Subrahmaniam l Start-up year: 1991 l Products & services: Software development l Employees: 2,763 l Branches: 2 l Address: Unit 13, Block 2, SDF Buildings, MEPZ, Chennai 600045 l Tel: 2268080 l Fax: 22628171 l Website: www.covansys.com
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For the last fiscal, almost half of the revenues came through the BFSI and healthcare verticals for Covansys. The company, the subsidiary of Covansys USA, recruited heavily in India with its headcount registering a 61% growth compared to the previous year. Interestingly, during the same period, the company eased out 400 of its employees in the US. Hiring in India and firing in the US were part of its India-centric offshore delivery model which aims at facilitating more offshore capabilities. Meanwhile global revenues for Covansys stood at $378 million as compared to $383 million the previous year./dq/media/post_attachments/83f53b6a6f7126f93567ca79597be675191481e82f6a2a133410041859076478.gif)