Friday, October 17, 2003
Adding some detail to previously announced corporate restructuring plans, Infineon Technologies AG said it has agreed to outsource payroll accounting, recruitment and student intern housing in Germany and Austria to EDS over the next decade. The deal is expected to be worth a tens of millions of dollars.
As a result, EDS is set to take over management of parts of the Infineon workforce. However, no mention was made of other plans previously mooted in German language newspapers and magazines for Infineon to relocate a slimmed-down headquarters outside Germany.
"By outsourcing our payroll accounting and major parts of the recruiting function we are pressing further ahead with the extensive restructuring measures planned as part of the implementation of our Agenda 5-to-1 corporate strategy," Thomas Marquardt, head of human resources at Infineon, said in a statement.
Infineon cited a Gartner Dataquest forecast that many companies will outsource their human resources administration to external service providers over the next two years.
By: DocMemory
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