200 jobs to go in India relocation
Experian is slashing 200 jobs and moving its office to India, as it battles to cut costs in the wake of the credit crunch.
The software business, that provides products to major insurers, is shutting down its UK software development office and will be outsourcing from India as part of a global initiative to save £80m.
The company, which is known for its credit checking services, has developed numerous insurance software products including a groundwater mapping system to help manage the risk of floods.
The company also acts as host for insurance products such as Car Data Check.
Experian public affairs manager, Peter Brooker, said insurance clients would not be affected by the change.
“In order to remain competitive we had to look at the cost of the software development process and we felt we could do that more effectively in India,” he said. “Our insurance clients will not notice any difference except they will see more products more quickly.”
Brooker said the company was in a 90-day consultation period over the job cuts.
It is anticipated the new Indian office, the exact location has yet to be chosen, will open by March 2009.
Experian is said to have been affected by the recent credit crunch and subsequent decrease in lending by banks.
Jobs will also be cut in the US and other parts of Western Europe.