Credit Suisse plans to outsource 5000 Information technology, back office and administrative jobs to far flung counries like Eastern Europe, Singapore and India. As a part of its rightsizing and global cost cutting program Credit Swiss for quite some time has been looking for some way out. Earlier there has been a report that the firm is outsourcing major part of the deal to some Indian outsourcing companies. Studies are on about the scope and possibility of offshoring functionalities like secretarial and other administrative roles.
Credit Suisse already has an offshore back office facility in Singapore which it opened in February 2004. The unit was established to support the group’s international business in the Pacific region and provide business continuity services. However the bank has not yet offshored work to India or eastern Europe.
Via [Finextra]
