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.