IT staff at Credit Suisse in London and New York may be feeling a little jittery. According to a report in today's Daily Telegraph, the bank is planning to shift up to 1,000 British and US technology jobs to India in an attempt to cut costs.
The paper says the move isn't yet finalised, but is in 'advanced stages.' Under the new plan, Indian graduates would apparently perform back office application building roles.
Credit Suisse is not the only bank looking at shifting some of its back office to India. In December it was reported that JPMorgan was planning to create some 3,000 back office and support jobs in the country by 2007.