According to Wall Street Journal, Chicago-headquartered TransUnion, plans to reduce costs and increase savings by transitioning additional roles to its global capability centers overseas.
The company plans to deliver between $120 million to $140 million of annual operating expense savings, and a $70 million to $80 million capital expenditure reduction in 2026 compared with 2023 levels.
TransUnion proposes to transition more roles to global capacity centers it has set up in India, South Africa and Costa Rica, where about 4,000 employees, or about one-third of its employee base are currently working. The transition is expected to occur over the span of the next two years
By the end of 2024, TransUnion expects to complete its cloud migration, called Project Rise, that entails transferring most of its technology applications to a new software foundation within the public cloud.
Chief Executive Chris Cartwright said the moves will help maximize its operating model and enhance its technology to reduce costs, accelerate innovation, and drive growth.
“Today’s announcement reflects our continued focus on creating shareholder value,” Cartwright said.
