Prudential may axe 520 IT jobs
-
Prudential may axe 520 IT jobs
Tom Espiner ZDNet UK
Published: 19 Mar 2007 17:25 GMT
Financial services group Prudential may cut more than 500 UK-based IT jobs as part of a wider programme of offshoring and outsourcing.
PruTech, the business unit of Prudential that delivers its IT services, may axe up to 520 jobs as Prudential looks to cut costs of £80m in its life and pensions business — specifically in back-office administration.
Prudential said that no exact figure could be put on the number of jobs that could be lost in IT, as the company was undergoing a "scoping review". "We're looking to cut costs of £80m in the UK, but we can't put an exact figure on jobs," said a company spokesman. "We are looking at offshoring support functions."
PruTech currently administers 22 legacy IT systems, which will be streamlined down to five or six. Prudential is also in the process of rolling out a global workforce flow application developed as service-oriented architecture (SOA), which could lead to job cuts.
The work of 3,000 people in the UK and India — 2,000 in the UK and 1,000 in India — will be scrutinised to see where the cuts will be made. Prudential said it had identified the necessary criteria to make the cuts, and that it would test both competitors and its own business units by putting contracts out to tender. "We've identified an internal solution, and we're going to benchmark that solution against both internal and external providers," the spokesman said.
The 3,000 people whose jobs could be on the line work in IT, customer services, and customer operations. It will cost the Prudential £165m to implement the cost-cutting programme, which could include contracts with outsourcing companies and redundancy payouts to those laid off. -
from the start, i thot prudential gg to axe 520 insurance agents. scare me sia.
-
woo hoo
-
Again.
-
u study IT de wor. market seem not very good worOriginally posted by ndmmxiaomayi:Again. -
Haizz... bo pian... IT costs the highest, first to go also them.Originally posted by Ah Cek:u study IT de wor. market seem not very good wor -
wa, mayi earning big bucks in future lehOriginally posted by ndmmxiaomayi:Haizz... bo pian... IT costs the highest, first to go also them. -
I hope ar...Originally posted by Ah Cek:wa, mayi earning big bucks in future leh
Maybe underground more suitable. More bucks.
-
IT for bookie ar?Originally posted by ndmmxiaomayi:I hope ar...
Maybe underground more suitable. More bucks. -
Yup. Help them set up system, I collect the money and zao.Originally posted by Ah Cek:IT for bookie ar?
With so many bookies, not bad $$$. -
but when bookie kena caught, u also jobless wor...Originally posted by ndmmxiaomayi:Yup. Help them set up system, I collect the money and zao.
With so many bookies, not bad $$$. -
Got other things to do...Originally posted by Ah Cek:but when bookie kena caught, u also jobless wor... -
Originally posted by nightzip:
From the article, it is more concentrated in UK n India
[b]Prudential may axe 520 IT jobs
Tom Espiner ZDNet UK
Published: 19 Mar 2007 17:25 GMT
Financial services group Prudential may cut more than 500 UK-based IT jobs as part of a wider programme of offshoring and outsourcing.
PruTech, the business unit of Prudential that delivers its IT services, may axe up to 520 jobs as Prudential looks to cut costs of £80m in its life and pensions business — specifically in back-office administration.
Prudential said that no exact figure could be put on the number of jobs that could be lost in IT, as the company was undergoing a "scoping review". "We're looking to cut costs of £80m in the UK, but we can't put an exact figure on jobs," said a company spokesman. "We are looking at offshoring support functions."
PruTech currently administers 22 legacy IT systems, which will be streamlined down to five or six. Prudential is also in the process of rolling out a global workforce flow application developed as service-oriented architecture (SOA), which could lead to job cuts.
The work of 3,000 people in the UK and India — 2,000 in the UK and 1,000 in India — will be scrutinised to see where the cuts will be made. Prudential said it had identified the necessary criteria to make the cuts, and that it would test both competitors and its own business units by putting contracts out to tender. "We've identified an internal solution, and we're going to benchmark that solution against both internal and external providers," the spokesman said.
The 3,000 people whose jobs could be on the line work in IT, customer services, and customer operations. It will cost the Prudential £165m to implement the cost-cutting programme, which could include contracts with outsourcing companies and redundancy payouts to those laid off.
[/b]
i hear in
Malaysia which has a PRudential IT center in cyberjaaya doesnt have this issue
maybe they moving the things here to SEA.?
mayi u in IT industry?
cheers -
I'm studying IT... SG no news, doesn't mean good news.Originally posted by new_b:From the article, it is more concentrated in UK n India
i hear in
Malaysia which has a PRudential IT center in cyberjaaya doesnt have this issue
maybe they moving the things here to SEA.?
mayi u in IT industry?
cheers -
consider changing course?Originally posted by ndmmxiaomayi:I'm studying IT... SG no news, doesn't mean good news. -
Last year liao... cannot change...Originally posted by Ah Cek:consider changing course?
Maybe do temp jobs ba... just get some experience and $$$ and study something else. -
after u graduate, u can pursue smth not related to IT like bizness admin, finance, accounting...Originally posted by ndmmxiaomayi:Last year liao... cannot change...
Maybe do temp jobs ba... just get some experience and $$$ and study something else. -
Poly where can? Unless go private or overseas, but money is what I don't have.Originally posted by Ah Cek:after u graduate, u can pursue smth not related to IT like bizness admin, finance, accounting... -
hmm..final yrs liao ahhhOriginally posted by ndmmxiaomayi:Last year liao... cannot change...
Maybe do temp jobs ba... just get some experience and $$$ and study something else.
^^...wht IT area u r looking into..programming,support,consultation..
maybe you try sutdying to become a Financial Advisor..
if u good ..u can make $$$$$ -
SIM, MDIS, etc can. not expensiveOriginally posted by ndmmxiaomayi:Poly where can? Unless go private or overseas, but money is what I don't have. -
Don't know. Anything comes I take.Originally posted by new_b:hmm..final yrs liao ahhh
^^...wht IT area u r looking into..programming,support,consultation..
maybe you try sutdying to become a Financial Advisor..
if u good ..u can make $$$$$ -
OrhOriginally posted by Ah Cek:SIM, MDIS, etc can. not expensive
*go their website* -
ehheheeh luckily i never choose IT line.
IT is always my past time