May 11, 2006
ABN makes outsourcing its weapon for growth
ABN Amro, the Dutch bank takes the outsourcing route to cut costs and increase profits with a resulting 2400 job cuts. ABN witnessed a 12 percent rise in profits boosted through the revenue from Italy's Antonveneta which was acquired after a controversial bid battle. Australian reports:
ABN AMRO would cut 2400 jobs by combining back-office operations and shifting them mostly to India, the big Dutch bank said as it lifted its annual cost savings goal by E150 million ($246 million) to E900 million from 2008.
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