Outsourcing giant break up
Outsourcing giant
Convergys is planning to divide its information management business from its
main operations. It expects to make a decision on the move in the fourth
quarter of 2008.
Dave Dougherty, Convergys' chief executive and president
said hiving off the information management arm of the company into an
independent entity would make the company more money while providing more
opportunity for employees. In short it is a 'peace in our time' situation
that will provide as much jam as the company wants tomorrow. Just to make sure
it has hired Centerview Partners as its financial adviser to work out if it
really is a good idea.
Convergys has about 75,000 employees in 85 customer
contact centres, data centres worldwide. Things have not been going well for
Convergys lately. Its revenues have fallen and it lowered its financial outlook
for the year because of the poor US economy.