Sallie Mae Inc., a leading US student loan provider announced last week that it will return its offshore operations to the U.S. of about 2,000 IT, call center and operations support jobs.
Reston, Virginia -based Sallie Mae expects to complete the reverse-offshoring move within 18 months.
“The current economic environment has caused our communities to struggle with job losses,” CEO Albert Lord said as part of the announcement. “They need jobs, and we will put 2,000 of them into U.S. facilities as soon as we possibly can.”
Sallie Mae plans to shift current outsourced work to India, the Philippines and Mexico which are contracted in late 2007 and early 2008. Sallie Mae expects to increase annual costs by $35 million because of the said return of work to the U.S. The company is still fighting student loan changes proposed by President Barack Obama.
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This is great news! It will really help decrease the rate of unemployment in the Philippines.