Vocabulary:

fad – нововведение, новомодный управленческий метод, используемый лишь в течение короткого периода времени.

management fads – новые идеи и теории в области менеджмента

decade - десятилетие

to rein in capital spending – сократить объем инвестиций

cut overheads – сократить накладные расходы

snag – препятствие, проблема

TRANSLATION NOTES:

farming out –субподряд, привлечение внешних ресурсов (аутсорсинг)

В этом значении является примером «авторских слов» - неологизмов, которые образуются разными способами. В данном случае словосочетанию farming out (наемные работы в сельском хозяйстве) придано новое, более широкое значение, выходящее за рамки одной отрасли. (См. часть Ш, раздел 2, § 1, п.1.3)

production appears to have lost something in translation… – по-видимому, использование этого метода управления оказалось не столь эффективным в других странах…

В предложениях, содержащих конструкции «именительный падеж с инфинитивом» глагол to appear переводится как по-видимому, похоже. (См. часть Ш, раздел 3, § 4, п.4.2)

Far from falling, their costs actually increase. – Издержки компаний не только не сократились, но фактически возросли.

Герундий, который следует после выражения far from переводится как «не только не…, но»; «вместо того, чтобы (+инфинитив)…»; «отнюдь не (+деепричастие)» (См. часть Ш, раздел 3, § 5, п.5.2)

17.JpMorgan Steps up Indian Offshoring

Bank plans recruitment of 4,500 graduates over two years. New staff to perform high-value tasks

JPMorgan Chase plans to hire 4,500 graduates in India over the next two years with the aim of moving 30 per cent of back office and support staff at its investment bank offshore by the end of 2007.

The plan is the most ambitious move by an international investment bank to take advantage of the low cost of highly educated staff in India.

It underlines the shift in the use of such offshore facilities from traditional areas such as information technology support and call centres to core operational functions and other high-value tasks.

The bulk of the bank's process­ing of foreign exchange trades will be carried out at its centres in Mumbai and Bangalore.

It is also moving over much of the processing of credit deriva­tives contracts, an area where US and UK regulators have expressed concern about back­logs across the industry. Other investment banks are also invest­ing heavily in India, including UBS, which plans to open its first offshoring centre in Hyderabad early next year with an initial plan for 500 jobs.

Stefan Spohr, of consultants AT Kearney, estimates that US and UK-based investment banks now have about 6,000 staff in India, of which half are directly employed, representing less than 5 per cent of total headcount.

But he predicts this could rise to as much as 20 per cent in the next few years. "This is not a trend that will go away. Global resourcing is becoming part of the way of doing business," he said. Industry analysts say sala­ries in India are 70-80 per cent lower and total costs about 40 per cent below US levels.

But Veronique Weill, head of operations at JPMorgan's invest­ment hank, said it was not just about cost savings.

"The quality of the people we hire is extraordinary and their level of loyalty to the company unbeatable," she said.

The alleged "exporting" of jobs by American companies to lower-cost countries became a conten­tious political issue in the run-up to last year's presidential elec­tion. But the controversy has cooled as employment growth in the US has picked up.