Global economics and competition from the Philippines are forcing call centers in India to reduce wages, and halt hiring new agents. According to a report published by HSBC, Infosys and TCS are now cutting back employee bonuses as a result of an exodus of companies to both the Philippines, and onshore locations.
According to the report, the impetus of the transition is a move to provide customer service with accent and culture more like their own, and to avoid confusion that is often lost in translation.
The growth in India last decade is in some ways coming back to haunt it. Wages and labor costs increased to a point where the Philippines has become more cost-effective.
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