Connect with us

Business

Infosys to sack 3,000 techies as Scottish bank cancels deal
Image
Image

Bengaluru, Aug 16 

Global software major Infosys Ltd. will soon lay off about 3,000 techies since the Royal Bank of Scotland (RBS) has cancelled the contract for setting up a new bank (Williams & Glyn).

"Subsequent to this (RBS) decision, we will carry out an orderly ramp-down of about 3,000 persons, primarily in India, over the next few months," the city-based IT major disclosed on its website but did not share details with the media.

The Edinburgh-based RBS announced last week that it would no longer pursue its plan to separate and list a new UK (British) standalone bank (W&G) and instead pursue other options for the divestment of its business.

"We have been a W&G programme technology partner for consulting, application delivery and testing services," the IT outsourcing company said on its website.

According to company sources here on Tuesday, RBS signed a five-year multi-million dollar contract with Infosys and the US-based software major IBM for providing IT services to its proposed W&G bank.

"As RBS has a key relationship for us, we look forward to strengthening our strategic partnership and working with it across other transformation programmes," the company added.