Posts Tagged ‘BPO’
Outsourcing 2.0
Friday, July 2nd, 2010‘A Blessing in disguise’ – This is exactly what the IT/ITeS industry has to say about the recent recession. The 2008-2009 recession, followed by the collapse of the financial services bellwether, Lehman Brothers, has transformed the total dynamics of the industry. New business models evolved as customers squeezed their IT spend and demanded more work. They were perhaps right; the credit crunch had hit hard on their businesses and they were left with no choices apart from shoe-string budgets for IT-ITES needs. Vendors or outsourcing providers also responded in a similar fashion. But, the employees felt the heat most. Salaries were reduced, lot of employees were laid off and company budgets were reduced across the globe. By adopting such life-saving measures, most businesses were able to withstand the pressure. However, life hasn’t been the same ever since.
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