JPMC Scraps $5B IBM Deal
OUTSOURCING
NEW YORK—An outsourcing marriage made in heaven that was supposed to last seven years ended after less than two.
JPMorganChase (JPMC) stunned the industry last week with news that it has cancelled its $5 billion, seven-year IT outsourcing contract with IBM. By January of next year, the firm will take back 4,000 employees, and, along with them, data centers, help desks, a distributed computing infrastructure, and data and voice networks. Even though employees were transferred to IBM's payroll, the
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