Lloyds TSB to hire more in India
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High Street bank Lloyds TSB says it plans to create up to 1,000 new jobs in India, many of which will replace UK posts.
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LIVERPOOL was today braced for massive job losses after Royal &amp; Sun Alliance announced it was shifting 1,110 posts to India. A spokesman for the insurance firm said it was too
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IBM is celebrating a seven-year contract to provide voice and data solutions to Lloyds TSB, as part of the largest European IT deal of its kind, worth an estimated Â£500m.
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(InfoWorld) - French IT services company CapgeminiÂ will have more staff in India than any other country by the end of this year, as it expands its offshore services delivery from that nation. With about 19,000 staff, the company's largest operation by headcount is currently in France, but that will change as Capgemini plans to have over 19,000 staff in India by the end of this year, said Salil Parekh, executive chairman of Capgemini India on Thursday The company, which has 15,000 staff in India currently, plans to expand further in the country to employ 40,000 workers by 2010, Parekh said. The majority of the staff will work in IT services with the rest in BPO (business process outsourcing), he added. A number of large Indian and multinational IT services companies, including IBM and Accenture, have been hiring significant numbers of staff in India to take advantage of lower employment costs. Accenture, for example, said in January it will haveÂ more staff in IndiaÂ than in any other country by the end of its fiscal year on Aug. 31. The company's staff in India will increase to 35,000 in August, up by 52 percent from a year earlier, with the number of employees more than those in the U.S., which will have a little over 30,000 staff. The large-scale hiring by services companies has led to a shortage of quality staff and an increase in average salaries in India. However, Capgemini does not anticipate any obstacles to its hiring plans. The company's recruitment team is equipped to hire about 1,000 employees a month, both from university campuses and the services industry, Parekh said. "India remains cost-effective, and we haven't seen any evidence to the contrary yet," Parekh said. In addition to India's lower staff costs, the country remains attractive because it offers quality staff and Capgemini can scale operations to a level not possible in many other countries, said Parekh. By 2010, Indian staff will account for 70 percent of Capgemini's offshore services, down from 80 percent today, as the company ramps up operations in other countries like Argentina, Morocco, Romania, the Philippines, and Vietnam. China will also continue to serve as a key location. The company has about 1,000 staff in China, and will likely increase staff levels there three-fold by 2010, Parekh said. Capgemini also gained new business and staff in India through acquisitions. Last year, the company bought a 51 percent stake in Unilever India Shared Services, a finance and accounting BPO operation owned by consumer-goods maker Unilever Group. This business, which becomes a wholly owned subsidiary of Capgemini by 2008, is a key center for the company's finance and accounting BPO practice, Parekh said. In February, Capgemini purchased Kanbay International, an IT services firm in Rosemont, Illinois, to boost its services delivery from India, and its business in the financial-services sector. The Kanbay acquisition brought Capgemini a number of customers in the U.S., Parekh said. As it grows in India, Capgemini plans to expand its business in areas such as infrastructure management, ERP (enterprise resource planning) development and maintenance, and non-voice BPO, Parekh said.
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Lloyds TSB has tapped IBM as the key provider for its massive new VoIP infrastructure project. The new project will make Lloyds TSB the owners of one of the largest converged voice and data networks in Europe
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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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ROYAL &amp; Sun Alliance, the number two general insurer in the UK, will ship 1100 British jobs to India over the next two years in an attempt to cut costs.
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A UK company is formed specifically to help more businesses outsource their operations to India.
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India News, Hyderabad, World&#39;s largest software maker Microsoft Corp is hiring more staff at its new India campus - its largest outside the US - near here, the company&#39;s chief executive Steve Ballmer said Monday.
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Tata Motors Ltd.&#39;s new listing on the New York Stock Exchange will help India&#39;s biggest maker of trucks and buses add investors, raise capital for acquisitions and improve its corporate
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HYDERABAD, India  - Microsoft Corp. MSFT.O will  hire several hundred new staff at its new Indian campus in the  next year, its chief executive said on Monday, in a move aimed  at strengthening its presence in Asia's fourth-biggest economy.
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The British news giant aims to triple its Indian staff.
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UNI, New Delhi, Dec 5: The Finance Minister, Mr P Chidambaram, today announced further opening up of the banking sector, saying the modalities for foreign banks acquiring upto 74 per cent stake in Indian private banks will be announced by the year-end.
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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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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.
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Tesco PLC today unveiled a new IT services and business process support subsidiary in Bangalore and said it plans to move hundreds of jobs there from the U.K. later this year.
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Unisys is opening two additional global service delivery centers in India as part of its plan to expand its offshore resources to 6,000 people by 2008.