1491 Investors following iGATE Solutions. Share this News with them.
0
Like this story, share it with millions of investors on M3
Sub-prime woes: BPOs rule out immediate layoffs
Business Process Outsourcing (BPO) players including WNS and iGATE Global Solutions — hit by the meltdown in the US sub-prime mortgage market — have begun redeploying affected employees in other internal projects, while ruling out any immediate layoffs.
Business Process Outsourcing (BPO) players including WNS and iGATE Global Solutions - hit by the meltdown in the US sub-prime mortgage market - have begun redeploying affected employees in other internal projects, while ruling out any immediate layoffs.
"About 500 of our employees were engaged in the First Magnus Financial Corporation contract. We are working on creating internal opportunities for these employees and there will be no layoffs," the WNS Chief Executive, Mr Neeraj Bhargava, told Business Line.
Mr Bhargava said that the WNS team had started matching skill set of such employees with the internal requirements.
"There is enough growth in the market to take care of the flow of people from the contract, and efforts are on to absorb bulk of them internally within the practices such as financial services, travel and knowledge services. In the rare case of employees with skill sets unique to the client, we will assist them in getting jobs externally," he said.
"About 500 of our employees were engaged in the First Magnus Financial Corporation contract. We are working on creating internal opportunities for these employees and there will be no layoffs," the WNS Chief Executive, Mr Neeraj Bhargava, told Business Line.
