Quantcast
Latest Stories

NYSE-listed firm spending $50M for outsourcing operations in PH

By

New York Stock Exchange-listed technology firm Emerson Electric Co. is investing $50 million in the country for the expansion of its in-house outsourcing operations that support the company’s $24-billion-a-year global operations.

In a press conference on Wednesday, the company said the fresh investment, which would go to the long-term lease of various office buildings in Metro Manila, would support the increase in headcount at Emerson’s “shared services” operations in the country.

“Manila is by far the most important location for Emerson’s shared services. It was the first, the largest, and it offers the most diverse services,” said George Mulligan, vice president and general manager of Emerson’s Share Services operations in the country.

The company’s shared services operations, which provide various back-office and technical support services to Emerson subsidiaries and affiliates across the world, currently have 3,100 employees.

By the end of Emerson’s current fiscal year, the firm aims to increase its workforce to 3,300. By 2015, the number is expected to reach 4,000.

Services delivered out of Manila include accounting and finance functions, information technology support, human resource processes, marketing and product support, and supply chain management.

Emerson’s shared services operations are currently housed in the Cybergate building in Mandaluyong City.

Mulligan said the company was unfazed by the strengthening peso, which had diminished the industry’s cost advantage over rival business process outsourcing (BPO) hubs like India and China.

A stronger local currency means companies that earn in dollars will have to spend more to pay their employees in the Philippines who are paid in pesos.

The company provides IT solutions to industrial and retail companies with customers in various industries, including power generation and oil and gas drilling, wastewater management and food and beverage.

Apart from its shared services operations, Emerson also has two manufacturing facilities in the country—one in Cavite and another in Laguna.

In total, Emerson employs more than 12,000 people in the country.


Follow Us


Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Business , Business process outsourcing (BPO) , Emerson Electric Co. , expansion , Investment , Philippines , Real Estate



Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
Advertisement

News

  • Prosecutor says mate in SKorean ferry steering waters for 1st time
  • Malaysia asks world to pray for missing plane clue
  • 13th body pulled from snow in Everest avalanche
  • Pope sends condolences for S.Korea ferry victims
  • Drone kills 15 ‘Qaeda,’ 3 civilians in Yemen – security
  • Sports

  • MLB pitcher donates $100,000 for Sewol ferry victims
  • Hamilton takes pole at Chinese Grand Prix
  • Duke’s Rodney Hood joining Jabari Parker in NBA draft
  • Phelps entered in 3 events at comeback meet
  • Boston prepares for huge wave of marathon visitors
  • Lifestyle

  • Levine designs womenswear with help from fiancee
  • Gabriel Garcia Marquez, Nobel laureate, dies at 87
  • Ford Mustang turns 50 atop Empire State Building
  • Pro visual artists, lensmen to judge Pagcor’s photo contest
  • ‘Labahita a la bacalao’
  • Entertainment

  • Myx TV premieres Asian American ‘docu-series’
  • A nutty finale for ‘Scandal,’ TV’s craziest show
  • EXO postpones release of mini album ‘Overdose’
  • ‘X-men’ filmmaker slams ‘fabricated’ sex attack claims
  • Singer Chris Brown’s bodyguard on trial in DC
  • Business

  • Fiat-Chrysler to produce iconic Jeep in China from 2015
  • US commerce secretary spells out economic facet of ‘pivot to Asia’
  • Italy sells luxury state cars on eBay
  • Asian shares mostly up in quiet trade
  • Dollar up in Asia on US jobs data, Ukraine deal
  • Technology

  • Nasa’s moon-orbiting robot crashes down
  • Netizens pay respects to Gabriel Garcia Marquez
  • Nokia recalls 30,000 chargers for Lumia 2520 tablet
  • Facebook rolls out ‘nearby friends’ feature
  • Netizens seethe over Aquino’s ‘sacrifice’ message
  • Opinion

  • Editorial cartoon, April 17, 2014
  • A humbler Church
  • Deepest darkness
  • ‘Agnihotra’ for Earth’s health
  • It’s the Holy Week, time to think of others
  • Global Nation

  • 5 Filipinos with MERS in UAE reported in stable condition
  • PH boosts MERS monitoring after UAE nurse scare
  • Canadians back PH plea to take back waste
  • We treasure our Sierra Madre
  • OFW from UAE tests negative for MERS-Cov–health chief
  • Marketplace