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

[jim]

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.

[Author]

March 2, 2024 at 3:35 PM