Business Services Industry
Prudential Outsources Work -- and Its Workers -- to IBM.(Originated from The Star-Ledger, Newark, N.J.)
Knight Ridder/Tribune Business News, May, 1997 by Ali, Sam
May 2--The buzz word in corporate America these days is clearly outsourcing -- a business strategy employers happily equate with cost savings and employees often associate with dreaded pink slips.
But yesterday, Newark-based Prudential Insurance Co. and IBM Global Services announced a five-year, $200 million information technology, or IT, services agreement that accomplishes the cost-savings part without sacrificing the jobs.
Under terms of its outsourcing agreement with Prudential, IBM Global Services, which is based in Somers, N.Y., IBM will maintain the computer and data systems for Prudential HealthCare, the company's health-care business.
But also as part of that agreement, approximately 300 Prudential employees will be...
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