Global Outsourcing Sector Jobs Soar in Contrast to U.S. Employment Worries

By Philip Peters

Capital markets seem to be engaged a period of “pausal integrity.”  They have temporarily retraced over uncertainties in Greece and Spain and maybe Portugal on the European front and persisting unemployment challenges in the U.S. However, I was struck by the many press announcements and media releases over the last week or so, about the aggressive hiring among IT and BPO companies.

Information Week’s Bob Evans quoted an IBM executive declaring that -“We are beginning to see some action, beginning to see purse strings loosening.”

In financial year 2009-10 India, Nasscom projects Indian surpassing the magical US$50 billion IT/BPO export mark. Its 5.5% growth is expected to reach the mid teens in the following year – a far cry from the 35% growth experienced before the recession hit.

Here are some of the key announcements on Indian hiring:

1. Wipro to hire 7,500 new workers:

2. Hexaware to hire 400-500 Engineers:

3. Tata consultancy to hire 30,000:

4. Infosys to hire 15,000:

5. Genpact to hire 10,000 globally:

Jobs growth in the Philippines has been impressive with its voice base BPO sector adding close to 300,000 jobs over the last year and growing at a rate in the mid- thirties. Its overall IT-BPO sector grew at 19% and generated just over US$7 billion. The country’s business process association recently projected 2010 export revenue targets to reach US$12 billion in 2010.

Here are some key job announcements on the Philippines:

6. UST Global recently announce plans to hire over 1,000 agents in its new McKinley Hills, Taguig City development center in the Philippines.

7. Startek to add 2,100 seats:

Replicating its typical stealth preference – the Latin American-Caribbean nearshore appears to be going about its business of growing its markets and strengthening its companies’ performance with little declaration from regional firms about their hiring plans. Should Nourel Roubini’s upgraded economic growth projections on the region to just under 4% in 2010 hold true for the larger Latin American economy, the region will certainly secure its own in the IT/BPO export services. IDC projects 2010 IT spending in the Latin American region at 5%.

NB: 8. Post Article Update on Genpact 2010 Jobs announcement to hire 1,500 in India:

NB: 9. Post Article Update on Stream to Hire 5,000 in the Philippines in 2010:

NB: 10. 800-seat Panasiatic Call Center to open in Bacolod by June

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