Question The G Banking Group recently reported that it was offshoring(moving) its back-office operations from European country D toIndia where it alreadyhas some significant operations. Centralisingmost back-office operations in India is part of the Group?s plan togrow its international banking business. (India is one of the fastemerging economies in the so-called BRIC group of Brazil, Russia,India and China). According to a G Banking Group spokesperson, the move would involvecutting about 500 jobs from its operations in country D butgenerating a similar number of new jobs in India where it alreadyemploys 3,000 people. The pokesperson was, however, quick to addthat some call centres would still remain in country D. One banking analyst commented that the Group?s current ChiefExecutive Officer (CEO) was ?more aggressive? and ?lesssentimental? about moving back-office jobs than his predecessors.The National Secretary of the Banking Union described the cuts as?disgraceful? and argued that it showed a lack of concern for thedifficult employment situation faced by many young people incountry D. In response to such criticism, the CEO explained that banking wasbecoming increasingly global and that unless the Group responded tothe global challenges facing it, it would be unable to survive intothe future. The CEO went on to assureemployees that it would assistthose affected by the relocation of its operations in every waypossible. Describe the key factors involved in the emergence of the BRICeconomies.
Question
The G Banking Group recently reported that it was offshoring(moving) its back-office operations from European country D toIndia where it alreadyhas some significant operations. Centralisingmost back-office operations in India is part of the Group?s plan togrow its international banking business. (India is one of the fastemerging economies in the so-called BRIC group of Brazil, Russia,India and China).
According to a G Banking Group spokesperson, the move would involvecutting about 500 jobs from its operations in country D butgenerating a similar number of new jobs in India where it alreadyemploys 3,000 people. The pokesperson was, however, quick to addthat some call centres would still remain in country D.
One banking analyst commented that the Group?s current ChiefExecutive Officer (CEO) was ?more aggressive? and ?lesssentimental? about moving back-office jobs than his predecessors.The National Secretary of the Banking Union described the cuts as?disgraceful? and argued that it showed a lack of concern for thedifficult employment situation faced by many young people incountry D.
In response to such criticism, the CEO explained that banking wasbecoming increasingly global and that unless the Group responded tothe global challenges facing it, it would be unable to survive intothe future. The CEO went on to assureemployees that it would assistthose affected by the relocation of its operations in every waypossible.
Describe the key factors involved in the emergence of the BRICeconomies.
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