Submitted by souful1 on November 20, 2007

• Category: Business
• Words: 838
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Bank Of America Outsourcing Analysis

Bank of America
Bank of America is the latest multinational bank to outsource back-office operations to India. The bank already outsources software development work to Indian software companies such as Infosys Technologies Ltd. in Bangalore, and Tata Consultancy Services in Mumbai.
In 2003 Bank of America Corp. (BOA) planned to cut technology and operations jobs and outsource less than five percent of technology functions overseas for a lower cost labor, such as software programming. “We’re going to be gradually reducing staff in technology and operations only,” said bank spokeswoman Lisa Gagnon. “We’re working hard to make decisions really quickly and eliminate...

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