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January 28, 2009
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CONVERGYS ANNOUNCES 4TH QUARTER, FULL YEAR RESULTS...Convergys Corporation announced its financial results for the fourth quarter and full year of 2008. Consolidated fourth quarter 2008 revenue was $703.7 million with a net loss of $29.3 million, or $0.24 per share, including non-cash goodwill impairment in the HR Management segment of $61.1 million, or $0.43 per share, and restructuring expenses of $20.3 million, or $0.11 per share.
The company’s full year 2008 consolidated results include revenues of $2.785.8 million and net loss of $92.9 million, or $0.75 per share, including charges of $334.0 million, or $1.93 per share, related to HR Management contracts. Full year results also include restructuring expenses to streamline the businesses of $34.4 million, or $0.18 per share. Combined, these charges represent a negative impact to full year 2008 earnings of $2.11 per share.
KRAFT AWARDS HR BPO DEAL TO IBM...IBM's fast growing Managed Business Process Services (MBPS) division -an area of IBM Global Technology Services that automates and standardizes core business processes for clients in areas such as HR, accounting, mortgage origination and expense reporting - has been awarded a multi-year agreement to help transform and manage human resources services for Kraft Foods' - the world's second largest food company with annual revenues of approximately $40 billion.
As part of the agreement IBM will provide technology and support for Kraft's human resource processes including workforce administration, payroll, compensation, recruiting, learning and talent management.
PHILIPPINES EMERGING AS LEADER FOR NON-VOICE BPO...The Philippines, whose offshore market has grown 46 percent annually since 2004, is poised to emerge as a leading destination for non-voice Business Process Outsourcing (BPO) work for buyers looking beyond India to grow their offshoring footprint, according to the Everest Research Institute. The US$35 billion global BPO market has an addressable opportunity of $220-280 billion by 2012, with 90 percent of the addressable opportunity in non-voice work. Although a number of providers are leveraging the Philippines for a vast scope of non-voice functions, there is limited awareness of the Philippines’ capability in non-voice services, which has grown significantly over the past three years, according to the Institute’s study, The Silent Knight: The Philippines’ Emerging Non-Voice BPO Capability. The study includes contributions from the Business Processing Association of the Philippines (BPAP). The US$6.8 billion Philippines offshore market employs more than 450,000 people for mostly voice-based services.
To read an extract of The Silent Knight: The Philippines’ Emerging Non-Voice BPO Capability, purchase the report, or inquire about other research services, visit www.everestresearchinstitute.com, e-mail info@everestresearchinstitute.com or call +1-214-451-3110.
WNS TRANSITION TIMETABLE...WNS (Holdings) Limited announced that co-founder and Group Chief Executive Officer Neeraj Bhargava will transition to the role of Strategic Advisor to the company, and will continue in his current role of Group Chief Executive Officer until such time that a successor is appointed. This transition is expected to take place in the second half of 2009.
AURIONPRO NAMES HEAD OF N.A. SALES...AurionPro, a leader in offshore product development and outsourcing services, announced the appointment of Sanjay Gokhru as head of North America sales. In the U.S., AurionPro provides services to deliver deep business functionality and enable customers in the banking, payments and financial services markets to differentiate their services and improve competitiveness.
Posted by jbowles at January 28, 2009 06:42 PM