QBE is recruiting hundreds of dedicated, highly educated Filipinos for its Global Shared Services Centre in Manila.
The insurer told investors today that it was on track to save more than $US250m from the three-year, cost cutting drive that will see it move up to 3000 jobs from various global offices to the Philippines.
CEO John Neal has described it as “labour arbitrage”, noting that the Manila centre was cheaper to operate and was supported by government tax incentives and a public-private partnership.
According to QBE, its ‘average GSSC recruit’ is 34 years old, commutes more than 1 hour to work each day and has at least 2 years of relevant work experience.
QBE says 100% of GSSC recruits are tertiary educated; 95% hold undergraduate degrees and 30% have post graduate qualifications.
The GSSC will be based in a six-storey, 6500 sqm space in the Net Cube Building in Manila and take over a significant chunk of QBE’s backoffice functions including finance, HR, claims and IT, procurement.
QBE revealed plans to establish the centre in February.
Its former Sydney-based General Manager of Direct Distribution Brad Sinnatamby has been appointed COO of the Manila shared service centre.
So far, 521 Australian workers have been affected by the restructure. Of those, 39 were made redundant, 52 were contractors, and others were redeployed, Fairfax reports.
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.