Tata Consultancy Services, on Tuesday, denied reports that its business contract with Lehman Brothers, a leading financial services firm, has been scrapped following Lehman's decision to move call centres for its internal computer desk from India to the US.
Lehman shifts BPO unit from India to US
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In a statement issued to the media, Atul Takle, vice president (corporate communications), TCS said: "With reference to news reports in certain sections of the media on Lehman Brothers Holdings, Tata Consultancy Services reiterates that it continues to do work with Lehman Brothers and its decision, as reported in the media, does not impact the TCS-Lehman engagement in any manner."
Lehman Brothers had entered into a $70 million a year deal with TCS and Wipro Limited to manage some of its information technology operations.
Lehman stopped outsourcing its IT help desk, which handles employee reports of computer problems to Wipro about six weeks ago as it was not satisfied with the level of service, reports said.
Lehman Brothers, however, continues to outsource other IT functions including software application development, applications support and some IT infrastructure support.