UBS to re-locate part of IT ops to India

By agencies   |   Wednesday, 22 June 2005, 07:00 Hrs
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ZURICH: UBS AG is to re-locate part of its IT operations to India, beginning from autumn this year, thereby creating up to 2,500 jobs, Swiss finance weekly HandelsZeitung reported without disclosing its sources.

In a first step, the Swiss banking giant plans to create up to 1,000 new jobs. A further 1,500 may follow later, the newspaper said.

While no "spectacular" job reductions are seen at UBS, some of the bank's external IT providers may suffer, the paper added.

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