Tata Technologies News: Tata Technologies to Hire 1,000 Additional People in FY23 to Support Growth
In January, the company announced plans to hire more than 3,000 innovators over a 12-month period as part of its expanded talent acquisition program. It had planned to increase its workforce in all major markets globally and in India, including Maharashtra, Karnataka and Tamil Nadu, among other parts of the country.
“It speaks to the fact that more and more, we are not limited by opportunity. We are very limited on the supply side and so the investments that we make are biased towards building the kind of capability and capability that will allow us to meet the demands of our customers,” said Warren Harris, Managing Director and CEO of Tata Technologies.
He added that just to give an idea of the company’s success in this area, in the third quarter of this fiscal year alone, the company recruited over 1,500 people. “So the hiring of 3,000 is somewhat understated … we will be hiring a significant number above 3,000 in fiscal year 2023.”
When asked to elaborate on how significantly higher hiring would be, Harris said: “In terms of getting over 3,000, we’re working out the business plan for next year, but I expect until we exceed 3,000 by at least 1,000 people.”
Tata Technologies has grown rapidly through the shift to Autonomous, Connected, Electrified and Shared (ACES) mobility and accelerating digital investment as manufacturing companies adapt to meet new and ever-changing needs. customer development.
In the third quarter ended December 31, 2021, the company posted its best quarterly performance ever with operating revenue of Rs 1034.1 crore and pre-tax profit of Rs 201.2 crore.
Harris said that across manufacturing, with investments being made in moving towards electrification, connected zones and autonomous driving, the industry is starting to see an inflection point.
“These things are now mainstream investments and it’s been a huge catalyst for growth for organizations like ours that have demonstrated capability in this area,” he said.
While growth over the past 12 months has been across the mobility industry, Harris said in the third quarter the aerospace industry rebounded and the company won major contracts in both aerostructures and in manufacturing engineering and tooling.
“It indicates that the industry is now ready to make the same investments that we have seen in the other sectors that we support,” he said.
Tata Technologies is also represented by Airbus in its Strategic Engineering Supplier, Manufacturing Engineering and Services program.
“It’s a program limited to 17 companies globally and they’re competing for over $2 billion in annualized spend, so for us this is a big milestone for our business,” Harris said.
He further said: “We certainly expect this to lead to significant growth for us at Airbus. But, by association, we hope to be able to leverage this in the context of our broader ambitions within aerospace. ”