New York (April 23, 2003) - In an effort to significantly reduce costs, the world's 100 largest financial services companies expect to transfer up to $356 billion of their operations and two million jobs offshore over the next five years, according to a recent Deloitte Research survey.

The world's leading financial institutions can reduce their costs nearly $1.4 billion each by 2008 if they send work to low-cost centers like India, the survey found.

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