HCL Announces Outsourcing Agreement with Xerox
On March 19th, HCL Technologies announced that it’s signed a managed services agreement with Xerox under which HCL will manage portions of Xerox’s shared services, including global administrative and support functions, including, among others, selected information technology and finance functions (excluding accounting).
HCL says this seven-year agreement for an incremental $1.3 billion continues to build on the success of the Xerox-HCL relationship, which began in 2009 with product engineering and support services. Under that agreement, HCL currently manages aspects of Xerox’s mechanical, electrical, and software engineering activities for printer and imaging product lines. T
“The evolution of our shared services represents our culture of continuous improvement and allows us to more efficiently address customer needs while delivering significant cost savings to reinvest in the business,” said Steve Bandrowczak, President and Chief Operations Officer, Xerox. “We selected HCL as our partner for this strategic initiative due to our successful track record together thus far and our shared values.”
As part of the agreement, a group of Xerox employees will transfer to HCL (subject to compliance with European works council consultation and employment regulatory requirements).