Offshoring set to double by 2008

The scale of offshoring in the financial services sector is set to virtually double by 2008, according to PricewaterhouseCoopers latest survey entitled Offshoring in the financial services industry: Risks and rewards, launched on Thursday 15 September.

A quarter of participants currently offshore between 10% and 20% of their headcount, however, in 3 years' time, almost half of respondents expect this to be the case. Financial services firms which offshore jobs solely as a cost saving strategy,