Norwich Union offloads to India
Guess what? More financial services IT jobs are moving to India.
Insurance company Norwich Union is reportedly shifting 1,000 IT jobs to India and outsourcing a further 500 to third parties.
Finextra says about half of the job losses will be compulsory with the remaining job cuts made through normal staff turnover, redeployment, not filling vacancies and voluntary redundancy where appropriate.
The move is all part of a bid to save 250m at Aviva, Norwich Union's parent compamy.
The Financial Times says this year workers at Prudential suffered a similar fate when the company announced major cuts and Indian outsourcing plans in a bid to save 150m a year by 2009.
Aviva is closing offices in cities including Belfast, Glasgow, Newcastle, Norwich and has reportedly almost doubled its Asian workforce to 7,000 in the past two years, with 5,500 staff now based at centres in India and Sri Lanka.
