07 October 2015

BBVA Compass to cut 600 jobs in outsourcing pact

10 January 2014  |  3535 views  |  0  silhouette business man walking with suitcase

BBVA Compass is to cut up to 600 jobs in the US after agreeing outsourcing deals with Xerox and Accenture.

The bulk of the job cuts will come from the bank's headquarters in Birmingham, Alabama and will affect staff working in back office real estate and lending positions.

The bank says it will begin a review of job functions and workflow across selected functions next month as it looks to cost-saving opportunities from outsourcing.

In a statement announcing the plans, BBVA Compass says: "The benefits of scale that strategic service providers offer, as well as their investments in evolving technologies, are significant and instrumental in creating a platform for growth."

The bank has elected to work with Accenture and Xerox as its two primary outsourcing partners.

Says the bank: "They were selected, following an extensive analysis, in part because of their well-known business process services and strong reputations."

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

04 July, 2013
15 February, 2013
28 June, 2012
01 November, 2011

Related company news


Top topics

Most viewed Most shared
Shaping the Future of Banking: an event fo...
10450 views comments | 4 tweets | 2 linkedin
BNP Paribas to pilot cards with dynamic CV...
6887 views comments | 32 tweets | 37 linkedin
Worldpay trials facial recognition technol...
6637 views comments | 24 tweets | 39 linkedin
Faster Payments eases access for challenge...
4542 views comments | 20 tweets | 25 linkedin
Retail security bashing lobby group ABA ad...
4343 views comments | 16 tweets | 8 linkedin

Featured job

up to £95K base, £190K OTE, benefits
London, UK

Find your next job