Lehman to double outsourcing to India
By Our Corporate Bureau | 20 Dec 2003
New Delhi: Lehman Brothers may actually double the number information technology jobs it outsources to India, despite its recent decision to stop outsourcing its computer help desk to Wipro,. The move was seen as a result of the backlash against outsourcing, though Lehman had then preferred to blame it on unsatisfactory performance.
Last year hired Lehman had hired Wipro and TCS to manage various information-technology functionsto whom it currently outsources almost 20 per cent of its IT operations This is now expected to double up to 40 per cent. The combined value of the IT contracts to Tata and Wipro from Lehman will reach between $50-70 million annually.
Between them the two companies are expected to double the number of people required to handle Lehman''s work to almost a thousand.