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Cognizant Technology Solutions, the Nasdaq-listed provider of IT services, will tap technical campuses in the US and Germany for the first time to hire engineers this fiscal.
“We used to hire management associates in the past from US universities but it is the first time we are really looking at engineers…We have listed around 15 technical universities in the US whom we will approach during the course of the year,” Mr R. Chandrasekaran, President and Managing Director of Cognizant, told Business Line on the sidelines of the Nasscom India Leadership Forum, here on Tuesday. However, the company has not yet formalised the number of campus recruits it will get on board from the US and Germany. Once the model takes off in Germany, the idea is to extend it to other countries in Europe.
As a policy, Cognizant does not give hiring projections.
Indian companies are keen to hire local talent to tide over protectionist measures in overseas geographies.
Development centre
To accommodate the incremental hirings, Cognizant said it plans to set up a new development centre in the East Coast of the US, during the course of the current year. In the US, the company has delivery centres in Phoenix, Atlanta, Arkansas and Illinois.
Yesterday, Cognizant said it would invest over $500 million through the end of 2014 to expand its owned-campus footprint with the addition of over eight million sq.ft, which will have a capacity to house over 55,000 employees.
In line with this strategy, the company will invest $280 million in capital expenditure this year, added Mr Chandrasekaran. Cognizant, which follows a January to December accounting year, spent $185 million in capex in 2010.
In the quarter gone by, the company reported a 43 per cent increase in net profit to $206 million in the fourth quarter ended December 31, 2010 against $144 million in the same period last year.
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