Banking major ABN Amro on Tuesday said its recent $2.2 billion outsourcing deal will not lead to any job cuts in the bank and its BPO arm, Aces, in India.
The outsourcing deal will impact areas like IT application, development and management and ABN Amro is associated with none of them in India, bank's executive vice president and country representative Romesh Sobti told mediapersons on the sidelines of launch of a co-branded card with Max Healthcare.
Aces, a business process outsourcing unit of the bank, is also not associated with any of these work, he said.
ABN-Amro employs around 3,000 people in India. Amsterdam-based ABN Amro is reportedly cutting 1,500 internal tech jobs and transferring another 2,000 to external vendors with which it has signed an outsourcing contract.
The bank hopes to cut costs by Euro 280 million annually from 2007 by outsourcings its server and desktop infrastructure to IBM global services and application support and maintenance to TCS and Infosys Technologies.