Community
The current market turmoil looks like it's going to hit offshore outsourcing firms pretty hard.
As the FT reported a couple of days ago, firms like HCL and Wipro are putting a brave face on the crisis, insisting the events at Lehman - a customer of both - won't have much of an impact on them.
But despite the bullishness, Wachovia Capital Markets has just downgraded the IT offshore outsourcing sector to "market weight" from "overweight", predicting the financial services industry (estimated to account for around 40% of their business) just might want to cut back on spending in the current climate.
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
Kathiravan Rajendran Associate Director of Marketing Operations at Macro Global
25 November
Vitaliy Shtyrkin Chief Product Officer at B2BINPAY
22 November
Kunal Jhunjhunwala Founder at airpay payment services
Shiv Nanda Content Strategist at https://www.financialexpress.com/
Welcome to Finextra. We use cookies to help us to deliver our services. You may change your preferences at our Cookie Centre.
Please read our Privacy Policy.