As IT outsourcing names slump on account of Infosys' (INFY -11.4%) guidance cut, GM, which...

|About: Infosys Limited, Inc. (INFY)|By:, SA News Editor

As IT outsourcing names slump on account of Infosys' (INFY -11.4%) guidance cut, GM, which currently outsources ~90% of its IT services, says it will hire thousands of new IT workers over the next 3-5 years. GM, which also plans to cut the number of applications it supports by 40% and consolidate from 23 data centers to 2 (GM is far from alone in consolidating), claims the moves will lower process times and improve efficiency.