labels: hrd, banks & institutions
Barclays to hire over 50,000 in Indianews
24 April 2007

Mumbai: British banking giant Barclays plans to hire thousands of professionals in the country, in the latest of a series of such decisions by European and American banks that are expected to shift more than 50,000 jobs to low-cost India over the next three years.

The combined headcount of ABN Amro and UK''s Barclays Plc will expand by up to 10,000 employees in India following the $91-billion takeover of the Dutch banking major.

Announcing the cash and stock merger deal, Barclays and ABN Amro said they would move 10,800 jobs to low-cost locations like India. The deal would also result in net reduction of 12,800 jobs from their combined workforce of 2,17,000 employees.

Barclays-ABN Amro together with about a half a dozen foreign banks such as Citigroup, HSBC and Standard Chartered could hire over 50,0000 employees across various operations, including back-end jobs, in India in the next three years.

Foreign banks seeking to expand their presence in the world''s second-fastest growing major economy and benefit from low-cost opportunities in IT enabled back-end operations, are increasingly going bullish with their expansion and hiring plans in India.

The combined Barclays-ABN Amro entity could create 8,000-10,000 jobs in India. This would include jobs offshored from other locations and previous hiring plans announced separately.

ABN, which employs about 2,000 people in India, had planned to double this number in one year. Barclays, which has close to 1,000 employees in India, also said last month it would move over 200 jobs to India after closing a call centre in the UK.


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Barclays to hire over 50,000 in India