Deutsche Bank to outsource half of IT staff - FT
29 July 2003 | 28522 views | 0
Deutsche Bank is considering outsourcing up to half of its IT staff, or shifting their positions abroad, according to a report in the Financial Times.
The newspaper cites bank insiders who claim the idea is at an early stage but could be implemented over the next 18 months. It says up to 5500 jobs could be affected.
In December, Deutsche signed a ten-year EUR2.5 billion contract with IBM for management of IT resources across Europe.
The German bank is also looking at outsourcing its procurement operations worldwide under a EUR700 million cost-cutting drive. The FT says the bank will confirm Accenture as its main procurement contractor in the next few days.