Hiring alert: Altimetrik to triple India IT team with TPG's investment
Mint. “It will be remiss if we don't take advantage of the talent pool here." This comes at a time when tech hiring in India is slowing. Many IT firms and startups are downsizing or tightening their purse strings, offering low compensation and hikes.
“We're talking 3x from a revenue perspective in the next three years, that will be very proportionate, if not larger, to our employee growth," he added. India currently has approximately 5,000 engineers working at Altimetrik, accounting for nearly 80% of the company's global tech workforce of about 6,200 employees. Sundaresan also said that the company will continue growing its teams “proportionately" in other engineering centres in the US, Canada, Uruguay, Mexico, Poland, and Portugal, among others.
“...a majority (of new talent) will come out of India centres because anything to do with digital business modernisation and AI, the talent is prime here. And we're doubling down and investing to ensure that we grow our talent," he added. The update on Altimetrik’s hiring plans follows the acquisition of a majority stake of about 60% in the company by TPG Capital, a US-based private equity firm, valuing it at about $1.5 billion.
Altimetrik's hiring mandate is sizable given the current hiring slowdown, said Anshuman Das, co-founder and CEO of Indian hiring firm, Careernet. "Areas like technical support, operations are people intensive functions. It is best to run these functions from India remotely for all locations across the world.
Moreover, India also offers cutting-edge research and development (R&D) and product innovation at scale, which is the core of any company. These are some of the advantages which no other country can offer or replicate easily," he added. Das believes
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