Tuesday, 9th February 2010

 

25 June 2009 - Press Briefing

UBS considers outsourcing 5,000 jobs in two years

UBS is contemplating outsourcing nearly 5,000 jobs over the next two years, the bulk of which could come to India, sources said, according to a report in The Economic Times.

The Swiss bank recently hired McKinsey to advise it on the issue, which is line with chief executive Oswald Grübel’s cost-cutting strategy of achieving 7,500 redundancies by 2010.

The move represents an opportunity to win new business for Indian IT vendors such as Wipro and Infosys Technologies that already work with UBS, the ET report said.

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