430 new employees join TCS US as part of Transamerica deal
The new employees will be serving out of St. Petersburg, Florida and will help digitalise the US insurers Transamerica’s US insurance and annuity business operations.
In January 2018, India’s largest IT service providers was awarded with more than US$ 2 billion contract for administration and customer service of Transamerica’s US insurance business. As part of a multi-year agreement with Transamerica, TCS had promised to protect local job and make job offers to eligible Transamerica employees who were supporting the administrative operations of the insurer. Around 430 employees will now work for TCS in a new facility in St. Petersburg, Florida.
This development is in-line with Trump administration’s Save American jobs and Make in America drive. Over the past three years, TCS has invested approx US$ 3 billion in the US and has been a leading job creators in the US IT services sector.
Meanwhile, the stock of Tata Consultancy Services Limited closed at Rs. 3497.05 per share, up by 0.31 per cent on Wednesday.