Bank of America Said to Send Property Reviews to India – Bloomberg 06-28-13

Salient to Investors:

Bank of America opened a unit in India to review home-valuation reports, while eliminating jobs of licensed US workers in its LandSafe business.

Independent banking consultant Bert Ely said with offshoring, the potential for paperwork problems is always there, but it’s hard to be critical for trying to minimize costs.

Goldman Sachs saw headcount in places including Bangalore and Salt Lake City almost double since 2007 to 22 percent of employees. Barclays plans to move 4,000 more jobs overseas.

Bank of America does not disclose how many workers are outside the US.

Read the full article at  http://www.bloomberg.com/news/2013-06-27/bank-of-america-said-to-send-property-reviews-to-india.html

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