Barclays has announced its IT contract with Accenture will not be extended when it comes up for renewal later this year.
The financial institution signed a £400 million six-year outsourcing deal with the technology solutions provider in 2004.
Accenture’s work involved providing services and staff related to IT maintenance, enhancement and systems development.
An estimated 900 Barclays employees transferred to Accenture in the UK when the deal was originally drawn up.
However, only 230 are expected to move back once the contract runs out on June 30th 2010.
Barclays cited “commercial reasons” for the decision with the move expected to provide the financial organisation with the “most efficient model” to support business in its current form.
The investment banking and asset management operations within Barclays Capital and Barclays Global Investors were not included in the deal when it was drawn up in 2004.
Previously, Barclays announced it would end the five-year desk top management contract it had with IT solutions provider Getronics six months earlier than anticipated.
The organisation is planning on moving the work of both contracts in-house.
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