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Infosys' RBS contract loss to hit 3,000 employees in india


IT firm Infosys is set to take a hit after the Royal Bank of Scotland (RBS) said it has scratched off its arrangement to partitioned and list another standalone bank, Williams and Glyn (W&G), and rather will seek after different alternatives for the divestment of this business.

The bank had granted a five-year 300 million Euro IT contract to Infosys and IBM for W&G.

The move is liable to hit 3,000 Infosys representatives and effect incomes for the year by about $40 million to $50 million.

In 2013, Infosys won the agreement to create applications for W&G, a bank wanted to be set up in the UK.

"Infosys has been a W&G program innovation accomplice for Counseling, Application Conveyance and Testing administrations, and ensuing to this choice, will complete a systematic slope down of around 3,000 people, principally in India, throughout the following couple of months," Infosys said in a styatment.

"RBS is a key relationship for Infosys and the organization anticipates further fortifying our vital association and working with them crosswise over other key and change programs," the Indian IT firm included.


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