Barclays ABN Amro deal could create 10,000 jobs in India

Barclays ABN Amro deal could create 10,000 jobs in India

India could become a surprising winner of the proposed takeover of ABN Amro by Barclays. The merged entity could result in as many as 10,000 jobs in the Indian market.

Barclays deal with ABN Amro could be the biggest-ever financial services takeover. Market sources say that the merger could result in 12,800 job cuts worldwide and as many as 10,800 jobs could be outsourced to destinations including India.

ABN Amro already has a strong presence in the Indian market through their ABN Amro Corporate Enterprise Services entity.

A company statement added: “Part of the expected staff reduction will be through establishing shared services and offshoring those positions to low-cost locations, such as India where new staff will be recruited at ABN Amro’s existing ACES operations.”

Barclays has also entered the Indian market through its global retail and commercial banking (GRCB) in India with three branches.