Walgreens, America’s largest pharmacy chain, has signed a ten year finance and accounting outsourcing (FAO) contract with India’s Genpact.

As part of the contract, Walgreens will move its accounting processes and staff to Genpact, a move that will involve the transfer of at least 500 jobs.

The Genpact-Walgreens agreement will impact accounting staff at its offices in Deerfield, Illinois and surrounding areas, including Danville and nine smaller accounting locations across the US, reported the Offshoring Times.

Wade Miquelon, Walgreens executive vice-president and CFO, commented: ‘The deal will help us improve cost productivity and facilitate our growth strategy, while maintaining an agile and service-focused organisation’.