US drugstore chain Walgreens has signed a ten-year outsourcing agreement with Genpact in a move that will involve transferring at least 500 jobs.

As part of the contract, Walgreens plans to transfer its accounting processes to Genpact resulting in around 500 Walgreen accounting staff in Illinois, U.S, joining Genpact’s payroll.

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