LONDON: Over 600 British jobs may go to Mumbai and Bangalore as two major British companies, Capita and Experian, have decided to cut their employee strength and move work to the two Indian cities.

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Tata Consultancy Services (TCS), India’s largest software exporter, is effecting a small across-the-board cut in employee salaries based on the company’s performance in the third quarter, a move reflecting caution amid tough times for the outsourcing industry. A top company official confirmed the move while stock market analysts said TCS is sending signals that revenue growth has not met internal targets and employees can’t expect a big wage increase this year.

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Countering the rancour in the West against outsourcing of jobs, Azim Premji, chairman, Wipro, said talent shortage made a mockery of the claim that India was stealing jobs from the West.

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Bangalore, Jan 29 (IANS): The Indian BPO (business process outsourcing) industry should be booming in next four years, a study here has said and forecast that it would touch $50 billion by 2012 from the current $11 billion and create over two million direct jobs in the country.

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LONDON: Reeling under huge subprime-related losses, Citigroup is planning to axe close to 400 employees in its UK investment banking business, which it might soon follow with job cuts at other places including India, a report said.

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