Lehman Not Finished With India

Despite the news last week that Lehman Brothers had pulled back some jobs from India to the US, the firm has confirmed that it is not giving up on India and has plans to transfer more jobs there.

News surfaced last week that Lehman was unhappy with the way an IT help-desk was operating in India and the firm moved quickly to restore order and relocate the jobs to New York. However, Lehman has confirmed that further IT functions will be off-shored to India and that the experience with the help-desk will not affect future plans.

Charlie Cortese, an Managing Director in IT at Lehman, is said to have confirmed in an interview last week that his firm currently outsources around 20% of its IT operations to India and that the final figure could be as high as 40%, or around 900 jobs.

The problems with the IT help-desk were apparently down to the fact that Lehman underestimated the complexity of the training and documentation the Indian workers would need in order to successfully resolve the calls from Lehman employees.

JefferiesAnd the Best Place to Work in the global financial markets 2016 is...

Register for Financial Markets News Alerts