Mahindra Satyam to hire 18k employees in FY12

IT firm Mahindra Satyam today said it plans to hire about 18,000 people during this fiscal.

"We have plans of hiring about 18,000 people this year (FY12). Over 5,000 are from campuses and the rest are from lateral hiring or recruitment of experienced hands," Mahindra Satyam Head Recruitment and Media Sridhar Maturi told PTI.

At the end of the third quarter (October-December period), Mahindra Satyam's headcount stood at 28,832, an increase of 764 personnel from 28,068 employees on September 30, 2010.

Maturi further added, "The campus hiring will be predominantly in India and the lateral hiring is from across the world."

The company has its development and delivery centres in the US, Canada, Brazil, the UK, Hungary, Egypt, UAE, India, China, Malaysia, Singapore and Australia by which the company serves numerous clients, including several Fortune 500 companies.

Mahindra Satyam, formerly Satyam Computer Services, in September last year had announced its first audited financial results for 2009-10 after its founder B Ramalinga Raju admitted to multi-crore accounting fraud in January 2009.

In November 2010, it announced its first quarterly result for the April-June quarter, the first time after disclosure of its July-September 2008 quarter earnings.

The company's former chairman and founder Ramalinga Raju had in January 2009 confessed to the about Rs 14,000 crore scam wherein the company's profits were overstated and its assets falsified.

Tech Mahindra bought Satyam in April 2009, which since then is operating as an independent company.

Shares of Mahindra Satyam today closed at Rs 74.20 on the BSE, up 1.44% from the previous close.