Friday, April 06, 2007

Delphi has announced its plans to offshore about 650 finance jobs from its worldwide operations to Genpact. The move is in line with the company's plans to restructure its operations and exit court protection.

According to the papers filed by Delphi with the US Bankruptcy Court in Manhattan, the company has signed a deal with Genpact under which Genpact will provide finance-related functions, such as bills and receipts processing, travel and expense reporting, accounts receivable, and accounts payable. Through the deal, Delphi is likely to save about USD 150 million over the 88-months term of the deal. The company is expected to spend USD 220 million (including payments to Genpact) to shift its finance-related functions to Genpact.

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