TCS to close a deal worth $1 billion with Marks & Spencer: Report

India's largest IT firm Tata Consultancy Services (TCS) is expected to close a deal worth $1 billion with the British food-to-clothing retailer Marks and Spencer.

Though there's no official confirmation is been made by both the companies but according to a Economic Times report, the deal is set to close in the coming weeks.

TCS has been working with Marks and Spencers for over a decade, to transform the British retailer's human resource operations. The Indian IT giant has provided human resource solutions for over 80,000 employees of Marks and Spencer.

Marks and Spencer's plan for 3,400 new jobs

British food-to-clothing retailer Marks and Spencer on Monday announced plans for more than 3,400 new jobs thanks to store openings, following sizeable shop closures and job losses during the pandemic.

M&S said in a statement that it would open 20 new large stores across the UK. It comes after the group axed 7,000 jobs as Britain suffered Covid lockdowns.