HSBC is expanding its offshore outsourcing operations in India with a new BPO facility in Kolkata (Calcutta) and a software development center in Hyderabad. The bank already has one wholly owned BPO subsidiary - HSBC Electronic Data Centre - in Kolkata, which has 2,000 employees working on back-office operations, and is now planning to set up another center in the same city. Silicon.com reports:
Last year HSBC said it plans to double the size of its offshore operations to 25,000 employees within three years to help reach a target of cutting costs by $1bn by the end of 2007. HSBC CIO Ken Harvey recently revealed that almost half (42 per cent) of the bank's IT development work is now done in low-cost offshore centers.
Read more: HSBC ramps up Indian outsourcing presence