18 February 2018
visit www.ebaday.com

Infosys re-purposes 3000 jobs as RBS spin off of W&G goes awry

17 August 2016  |  6040 views  |  0 Stop! One WAY!

RBS' decision to abort the planned carve out of Williams & Glyn (W&G) and scrap plans to develop a new banking platform for the operation has hit Indian IT supplier Infosys, leading to the re-positioning of 3000 jobs.

RBS' plans to spin-off W&G came unstuck earlier this month as the bank reported a mammoth £2 billion half year loss as it struggled to deal with legacy issues from its 2008 bail out.

RBS has written off £345 million in seperation costs in its half-year results presentation, admitting that the IT challenges inherent in its plans have been overwhelming.

Infosys had been contracted by the bank in 2013 to act as a W&G programme technology partner in its efforts to build a cloned banking platform for the business.

In a statement, Infosys says it will carry out "an orderly ramp-down of about 3,000 persons, primarily in India, over the next few months".

The vendor says it remains a strategic technology partner for RBS and will continue to work with the bank on its digital transformation programme.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

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

Related stories

RBS scraps W&G carve out; writes off £345 million spend on spin off

RBS scraps W&G carve out; writes off £345 million spend on spin off

05 August 2016  |  10552 views  |  0 comments | 9 tweets | 10 linkedin
RBS takes the axe to back office and IT staff

RBS takes the axe to back office and IT staff

21 June 2016  |  6518 views  |  0 comments | 9 tweets | 7 linkedin
RBS says IT issues could make it miss Williams & Glyn branch sale deadline

RBS says IT issues could make it miss Williams & Glyn branch sale deadline

28 April 2016  |  6869 views  |  3 comments | 2 tweets | 2 linkedin
RBS to cut 600 staff as branch network withers

RBS to cut 600 staff as branch network withers

14 April 2016  |  5928 views  |  0 comments | 3 tweets | 4 linkedin
RBS to cut 550 jobs in preparation for robot revolution

RBS to cut 550 jobs in preparation for robot revolution

14 March 2016  |  10241 views  |  3 comments | 23 tweets | 17 linkedin
Infosys to create 250 fintech jobs in Ireland

Infosys to create 250 fintech jobs in Ireland

07 December 2015  |  5672 views  |  0 comments | 10 tweets | 5 linkedin
RBS suffers another IT meltdown as payments go astray

RBS suffers another IT meltdown as payments go astray

17 June 2015  |  10083 views  |  5 comments | 27 tweets | 15 linkedin
RBS to slash number of tech and payments platforms supported from 130 to 20

RBS to slash number of tech and payments platforms supported from 130 to 20

27 February 2014  |  11057 views  |  1 comments | 17 tweets | 15 linkedin
In wake of latest meltdown, RBS boss admits decades of IT neglect

In wake of latest meltdown, RBS boss admits decades of IT neglect

03 December 2013  |  8916 views  |  8 comments | 10 tweets | 5 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit www.vasco.comvisit www.ebaday.comvisit http://info.nice.com

Who is commenting?

Top topics

Most viewed Most shared
Saudi central bank provides sandbox for banks to try out Ripple techSaudi central bank provides sandbox for ba...
10828 views comments | 16 tweets | 11 linkedin
Aussie real-time payments platform goes liveAussie real-time payments platform goes li...
8447 views comments | 15 tweets | 42 linkedin
ECB launches staunch defence of cashECB launches staunch defence of cash
8201 views 10 comments | 21 tweets | 26 linkedin
hands typing furiouslyHow can Blockchain Help with AML KYC
7901 views 3 | 9 tweets | 6 linkedin

Featured job

Competitive base + commission + benefits
New York City, NY - USA

Find your next job