RBS has cancelled its plan to separate and list a new standalone bank Williams & Glyn and instead will pursue other options for the divestment of this business. The bank had awarded a five-year 300 mn Euro IT contract to Infosys and IBM for W&G. The move is likely to hit 3,000 Infosys employees and impact revenues for the year by about $40 mn to $50 mn.

Infosys to take a hit after RBS move

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