The Hindu Business Line : Ivy Comp going for revamp

The estimated $6 billion Internet gambling market in the US has witnessed some sort of a meltdown following a Senate Bill in October that came down on bets by banking and financial services providers and imposed curbs on credit card transactions for online gambling. Ivy Comptech is a Hyderabad-based business process outsourcing company that provides support to one of the successful Internet gaming companies — PartyGaming. It employs about 1,500 people and is on an expansion drive. But the Senate decision in October put the brakes on its plans.

Hence, some 700 to 800 employees of the company who were serving the company's online poker operations are now without a job as the US operations accounted for a big chunk of business. These people, however, get a severance package depending upon their experience.

Ivy Comptech itself plans to restructure its operations and also continue to support its European operations.

But the market buoyancy is such that many of the ITES companies are recruiting, so why not induct well-trained professionals?

According to sources, the Ivy Comptech facility located in Banjara Hills has turned into a recruitment office and has many companies recruiting the people who have been served `pink slips.' Those include Deloitte, HSBC, Dell and Nipuna, among others.

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