Thursday morning at about 5 a.m. HCL sent an email out (which was just an image with text). Obviously you can't cut an paste the text from an image, so I will type the main parts here:
HCL and Xerox Expand Strategic Partnership to accelerate operational Transformation
We are excited to announce that building on a decade long Product engineering relationship, HCL has signed a managed services agreement with Xerox. HCL will manage portions of Xerox's shared services, including global administrative and support functions, including selected information technology and finance functions (excluding accounting). Leveraging HCL's global scale and capabilities, Xerox will strategically evolve its shared services into process-first, technology-led operations.
Highlights of the deal:
Deal size of $1.3 Billion TCV over 7 years
Delivery offerings across 9 service line
2500 Headcount across 5 captive countries & 3000 headcount across 27 non captive countries
95% OFFSHORING in a highly fragmented operations
30% FTE REDUCTION Envisaged through centralization & consolidation, process Re-engineering & Automation
Ok, this is taking longer to type than I had hoped. There is a section that says what's in it for HCL, then another section that says Drive for Xerox.
Then there is a section that is titled HCL's Solution tenet for Xerox:
Rebadge all employees from captive centres and right-shore 90% of roles from non captive centres to captive locations and retain 5% for governance and management.
Leverage Xerox existing investment in technology and supplement with next generation transformation tools including: Robotics process automation, AI, ML, IoT and NLP interventions.
Domain Platforms for various operations
Analytics and data visualization
30% Committed Productivity and potential to achieve additional 10-20% efficiencies
HCL will follow its proprietary AsseT transition methodology to ensure risk free migrations of roles between geographies with required visibilities of project progress and robust governance.
Finally at bottom there is a KEY ENABLERS sections that lists a bunch of Indian names of people who were on the core team and helped make this deal possible.
Then! Tonight we received an email backtracking all of this, which I will post as a comment below this.