Perpetual offshores more IT jobs

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Perpetual offshores more IT jobs

Acts on 2012 review.

Financial services firm Perpetual will shed around 50 jobs from its IT and administration departments after signing an outsourcing deal with Indian IT provider Tech Mahindra.

The move slims the company’s IT department to less than 30 staff, down from 120 personnel a year ago.

The company did not reveal exactly how many staff were left following the latest outsourcing agreement.

A spokesperson said Perpetual had been "open and honest" with directly affected staff throughout the process.

Perpetual signalled it was reviewing options to outsource its unit registry operations in August last year. 

Under the new multi-year agreement Tech Mahindra will take over the registry capability for Perpetual’s Wholesale, WealthFocus and Select investment, superannuation and pension products. The company declined to put a financial value on the contract.

As part of a two-year restructuring effort, Perpetual last year signed a five-year $68 million outsourcing deal with Fujitsu for its infrastructure, service desk and application services, which affected 90 IT jobs. Around 10 percent of the affected workers took up employment at Fujitsu.

The role of chief information officer, held by Jenny Levy, was also scrapped as a result of the deal. The slimlined IT and operations divisions were combined under a new general manager of IT and initiatives.

The Fujitsu and Tech Mahindra contracts form part of Perpetual’s efforts to save $100 million over this year and next. The ‘Transformation 2015’ program is expected to result in 580 jobs lost over its two-year life as part of a “take not make” approach to IT.

Perpetual has re-organised its smaller IT team to now focus on strategy, architecture, governance and commercial management, former CIO Levy told iTnews earlier this year.

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