Credit Suisse considers massive switch to offshore


Credit Suisse considers massive switch to offshore

Antony Savvas

Credit Suisse is considering outsourcing over half of its 5,000 IT jobs in Switzerland to offshore centres, including India, to slash operating costs.

Last month, news broke about Credit Suisse outsourcing its communications infrastructure to BT in a £578m deal. At the time, both BT and the bank wouldn’t confirm the deal.

But this month, the two sides confirmed the contract and said almost 300 jobs, including some contractors, would transfer to BT from Credit Suisse as part of the deal.

According to Swiss newspaper SonntagsZeitung, the bank is planning to offshore 50% to 70% of IT jobs in Switzerland, as part of plans to make around £1bn in cost savings.

The bank already has an offshore facility in Pune, India, and last year, Credit Suisse transferred around 900 IT, finance and operations jobs to an offshore centre in Singapore.

Past reports have also suggested that the bank is looking at Eastern Europe to make savings.

Credit Suisse to outsource to BT for £578m

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