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John Hancock Financial Services Set to Cut 300 Information Technology Jobs.
By Scott Bernard Nelson, The Boston Globe Knight Ridder/Tribune Business News
Jan. 10--John Hancock Financial Services is in final-stage negotiations to shed at least 300 information technology workers by outsourcing their department's work, another in a series of moves designed to slash expenses and possibly prepare the company for a sale.
Some of the employees at the insurer's Boston headquarters will be laid off, but many will be offered comparable jobs at the still-to-be-determined outsourcing company, internal memos obtained by the Globe state. A Hancock spokesman yesterday declined to comment on the outsourcing proposal, but a series of memos details the six-month process of asking at least 10 firms, including IBM, Hewlett-Packard, AT&T, and EDS, to submit bids to do the work.
According to the memos, today is Hancock's deadline for bidders to submit their proposals. In a communication to employees last month, the outsourcing project manager wrote that negotiations with outside firms are expected …
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