L&T will add 1500 people to its workforce in 2019

Its recent attempt to take over Mindtree was resisted by the latter’s founders as well as employees.

0
370

As has been its usual practice, infrastructure company, Larsen & Toubro (L&T) is all set to recruit 1,500 people this year too.

In 2017, the Company’s workforce had 41,466 members, which rose to 42,924 members in 2018. The Company also boasts of one of the lowest employee attrition rates — only about five per cent.

Very recently, L&T was in the news for its attempt at a hostile takeover of the IT services company, Mindtree. However, the latter’s founders offered resistance and expressed their apprehensions about the varied cultures of the two organisations and their ability to gel.

This was the first hostile takeover bid in the Indian information technology space and is big news especially because it involves an Indian organisation with very high growth and potential.

Having two listed IT firms under its wings already, L&T set its eye on Mindtree as it is amongst the prominent names in the Indian IT sector. It is already serving clients across the globe, including Microsoft, Procter and Gamble, Southwest Airlines, and Marriott.

As a company, Mindtree has shown consistent growth. In fact, it has developed faster than the IT sector itself, and is all set to achieve $1 billion in revenues and its profits are set to go over $100 million. Also, Mindtree has been investing strategically in technological innovations and also to diversify services and the business. Not only has it spent on digital transformation and advanced technologies, but it has a significant presence in the domains of travel and hospitality, hi-tech, as well as media.

Comment on the Article

Please enter your comment!
Please enter your name here