Mumbai:
British banking giant Barclays plans to hire thousands
of professionals in the country, in the latest of a series
of such decisions by European and American banks that
are expected to shift more than 50,000 jobs to low-cost
India over the next three years.
The combined headcount of ABN Amro and UK''s Barclays Plc
will expand by up to 10,000 employees in India following
the $91-billion takeover of the Dutch banking major.
Announcing the cash and stock merger deal, Barclays and
ABN Amro said they would move 10,800 jobs to low-cost
locations like India. The deal would also result in net
reduction of 12,800 jobs from their combined workforce
of 2,17,000 employees.
Barclays-ABN Amro together with about a half a dozen foreign
banks such as Citigroup, HSBC and Standard Chartered could
hire over 50,0000 employees across various operations,
including back-end jobs, in India in the next three years.
Foreign banks seeking to expand their presence in the
world''s second-fastest growing major economy and benefit
from low-cost opportunities in IT enabled back-end operations,
are increasingly going bullish with their expansion and
hiring plans in India.
The
combined Barclays-ABN Amro entity could create 8,000-10,000
jobs in India. This would include jobs offshored from
other locations and previous hiring plans announced separately.
ABN, which employs about 2,000 people in India, had planned
to double this number in one year. Barclays, which has
close to 1,000 employees in India, also said last month
it would move over 200 jobs to India after closing a call
centre in the UK.
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