Aegis was facing tough competition here- thats clearly the reason it left. When it acquired PeopleSupport, there were rumors that it was just trying to find out how and why the Philippines has become the preferred outsourcing hub for the US, Canada, Australia, and UK. Its business in India and elsewhere was being affected by the rapid growth of BPO in the Philippines then. At the time of the sale of PeopleSupport, the US was undergoing an economic crunch, and its management was fearing for us employees then who have stocks with the company (this was an incentive for those who stayed with the company for more than a year). The unit price of the stock is depreciating and the managements solution was to sell the company before it dropped too low, thus, affecting the employees who were with the company in its early years in NYSE/DOW. Aegis BPO acted as if it was saving the company, when in fact it was just snooping around.
Posted on: Fri, 19 Sep 2014 23:40:39 +0000