Credit Suisse plans to hire 1,000 IT employees in India in 2021

ZURICH: Credit Suisse Group said it planned to hire over 1,000 IT employees in India this year to show its commitment to the country and its intention to establish it as a global technology innovation center for the bank.

The hires will comprise of developers and engineers with capabilities in emerging technologies such as cybersecurity, data analytics, cloud, API development, machine learning and artificial intelligence to support the bank’s digital aspirations, the Swiss bank said in a statement on Tuesday.

India’s software service exporters have done well throughout the Covid-19 pandemic as companies the world over rushed to upgrade technology. But as demand for IT professionals rises, tech giants are facing higher staff attrition.

This scenario is playing out at all the top four information technology companies — Tata Consultancy Services, Infosys, HCL Technology and Wipro — where the attrition rate was in the range of 7.2% to 15.2% in the year ended March.

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As companies shift their workforces online due to the pandemic, Indian IT companies have reaped record profits since the December quarter. They now expect the digital transformation that companies had undertaken to be completed in two years, an acceleration from the three to five years they had previously expected.

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