Two giant US companies have recently established offices in the Philippines, giving back office outsourcing job opportunities to Filipino college graduates.
Sun Star reports that insurance organization American International Group Inc (AIG) and bank holding company Capital One Financial Corp have set up offices in Filinvest Corporate City, Alabang, Muntinlupa City.
Pasig City Representative Roman Romulo said that the positions that are soon available to Pinoy graduates will include finance and accounting associates, business process engineers, and call center agents, among others.
AIG and Capital One Financial Corp are the two latest US corporations to transfer back office operations to the Philippines. Early this year, the Dutch financial services company ING opened its own captive outsourcing hub in Manila, and financial services firm JP Morgan is also transferring more business support functions in its back office in the same city in a bid to slash costs.
In an interview last April, Romulo stated that back office outsourcing is expected to create about 146,000 full-time employment opportunities in the country this year.
The Philippine BPO industry is projected to generate 500,000 jobs between 2013 and 2016. Industry analysts expect it to directly employ 1.3 million Filipinos by 2016.