India’s HCLTech and TCS’s Outsourcing Deal with Xerox Goes Sour, Down by $70 Million.

jim · 2024-03-02T15:35:14-05:00

The shortfall of approximately $70 million does not necessarily mean that Xerox did not pay this amount. According to the information available, Xerox had contractual cash obligations towards both HCLTech and TCS for 2023 totaling $296 million. However, the Indian vendors could together secure only about $227 million from Xerox. This indicates that the expected revenue from the deal was not fully realized, which could be due to a variety of factors such as disruptions during the pandemic, changes in the scope of work, or other contractual adjustments.

Tonernews.com, March 2, 2024. USA

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jim
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The shortfall of approximately $70 million does not necessarily mean that Xerox did not pay this amount. According to the information available, Xerox had contractual cash obligations towards both HCLTech and TCS for 2023 totaling $296 million. However, the Indian vendors could together secure only about $227 million from Xerox. This indicates that the expected revenue from the deal was not fully realized, which could be due to a variety of factors such as disruptions during the pandemic, changes in the scope of work, or other contractual adjustments.
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March 2, 2024 at 3:35 PM

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