Hercules’ Outsourcing Deals Prompt Job Cuts

Hercules will eliminate approximately 200 positions, about 4% of its total workforce, under a reorganization that includes outsourcing accounting and information technology (IT) functions to make its “underlying costs more variable in nature,” the company says in a recent SEC filing. Hercules has signed separate agreements with business and technology services provider Genpact International (Gurgaon, India) and IT outsourcing firm HCL Technologies (Noida, India) with a combined value of approximately $64 million. Both contracts are effective through...

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