How Indian Companies Stealing European Customers
Europe seems to have become the favorite destination for acquisition by Indian IT companies and Tatas’ recent purchase of French firm Alti could be the prelude to a long-awaited European acquisition spree, experts believe.
Notwithstanding Europe’s stringent labor laws and high operating costs, a number of Indian software firms have made acquisitions in the European Union off late.
Besides the Tata-Alti deal this month, Geometric acquired 3Cap Technologies for 11 million euros in January.
Last year, Infosys acquired Swiss consulting company Lodestone for $350 million, while Cognizant Technology Solutions Corp acquired six small IT services companies that were part of Germany’s C1 Group for an undisclosed sum.
How are they accomplishing it?
Upon visiting any IT job website, numerous job openings with short-term contracts ranging from one to six months can be observed.
The customer name is typically undisclosed, but it is commonly known to be Infosys, HCL, or other Indian companies. These firms seek highly-skilled IT professionals from European Union countries, offering good compensation but no additional benefits. As an employee, you must handle everything including tax payments, health insurance, and accommodation on your own. The company shows no concern for these matters.
Highly skilled IT specialists will only be required during the customer transfer. Once complete, services will be transferred to India for cost efficiency. Although customer rates will remain the same, the quality will not be comparable.
Indian companies are deceiving European Union businesses by providing subpar IT support services at a low cost.
Indian companies are taking away job opportunities and customers from Europe and its people.
Caution! Certain Indian corporations are employing peoples using UK phone numbers while being situated in India.
This is typical scam.
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