Insurer moves 1,100 jobs to India
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Insurance firm Royal & Sun Alliance says it is cutting 1,100 jobs in the UK and moving the posts to India.
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Aviva plans to cut 4,000 jobs in the country -- or 11 percent of its British workforce by 2008 -- and transfer 1,000 positions to India.
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Aviva PLC, Britain's biggest insurer, said Thursday it plans to cut 4,000 jobs, or 11 percent of its British work force, and shift a quarter of those jobs to India to cut costs and increase profitability.
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Insurer Royal and Sun Alliance became the latest high-profile British firm to announce a mass transfer of jobs to India, saying it plans to move 1,100 positions there by 2006, saving the group 10 million pounds annually (14.5 million euros, 18.0 million dollars).
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Insurer Royal &amp; Sun Alliance will move 1,100 UK jobs to India to cut costs, becoming the latest financial company to shift a large number of staff to Asia where labour is cheaper.
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The company said it is selling the unit to Standard Chartered for nearly $1.1 billion so it can focus on its core credit card business.
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Banking group Lloyds TSB said Tuesday it will transfer about 1,000 British jobs to India by the end of next year. The group will transfer jobs in its information technology and group operations departments
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Imperial Oil Ltd. says it will shift its head office to Calgary from Toronto, with the move to the Alberta oilpatch affecting 1,500 employees and expected to be completed by next August.
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Banking group Lloyds TSB said Tuesday it will transfer about 1,000 British jobs to India by the end of next year.
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Britain&#39;s largest insurer Aviva says it will move 950 jobs to low cost centres in India and Sri Lanka in 2005 and it plans to have up to 7,000 people working in offshore centres by the end of 2007.
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Royal &amp; SunAlliance announced up to 1,200 job losses today with the transfer of customer service and back office roles to India over the next two years.
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Royal &amp; Sun Alliance, Britain&#39;s second-largest insurance company, is planning to shift over 1,100 jobs to India as a part of its cost-cutting exercise.
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Aviva, the biggest insurer in Britain, plans to slash 4,000 jobs in the country, or 11 percent of its British workforce by 2008, and transfer 1,000 positions to India.
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India has reaped the benefits of foreign companies switching jobs and resources to the country over the last five years.
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Nortel Networks Corp.    said on Tuesday it will cut 1,100 jobs globally as the  communications equipment maker seeks to improve operating  margins.
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One of the country&#39;s biggest insurance firms today announced plans to transfer more than 1,100 jobs to India over the next few years, sparking fears of a &quot;crisis&quot; in the UK.
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UK insurance giant Royal &amp; Sun Alliance is to offshore some 1,200 back office and call center jobs to India over the next two years.