Infosys’ RBS Contract Loss May Hit 3,000 Employees
In a big hit to Infosys, the Royal Bank of Scotland (RBS) has cancelled a major contract that will impact as many as 3,000 of Infosys’ employees and impact revenues for the year by about $40 million. The cancellation came following RBS’ decision to abandon its plan to float a separate standalone UK bank -Williams & Glyn (W&G). RBS had awarded a five-year 300-million-euro IT contract to Infosys and IBM for W&G. The major portion of that, may be as much as $200 million, was to go to Infosys. “Infosys...