Deutsche Bank AG, which several years ago moved staff out of New York to cheaper US cities, is now shifting some of those those jobs to India.
Germany’s largest lender is relocating around 60 accounting positions to Mumbai from Jacksonville, Florida, in a bid to reduce expenses, Bloomberg reported on Friday, citing anonymous sources. This move is part of a larger shift in which the bank intends to outsource more jobs from the US to India later this year.
Big banks broadly have been moving workers from high-cost locales like New York to places like Jacksonville and Salt Lake City for years. For instance, Goldman Sachs is moving dozens of compliance jobs out of New York City to cheaper places like Salt Lake City, Business Insider previously reported.
But Deutsche Bank is taking this a step further, by moving