Following the example of Citi, US investment house Fidelity intends to offload its support operations and puts its Indian IT outsourcing unit up to auction.
Indian It branch of Fidelity comprises nearly 70% of Fidelity Research & Management Company (FMR) India employees and employs 2000 staff in Chennai and Bangalore. Other 30% engaged in BPO, implementations and business analytics will fall into reduction.
Fidelity will reward the winning bidder with a multi-year outsourcing contract. The list of potential winners includes Accenture, IBM, Satyam, Infosys and Wipro.
As part of our global business transformation strategy, we are exploring options to optimise our technology delivery model, including the one in our captive unit in India, says Fidelity spokesperson. We are evaluating sourcing options with leading global technology service providers that will help us maximise the value we can offer to our key stakeholders, including employees in the long term.
L.D.