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Hancock Turns IT Over To IBM

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NU Online News Service, April 23, 2003, 5:23 p.m. EDT – John Hancock Financial Services Inc., Boston, says it plans to hire International Business Machines Inc., Armonk, N.Y., to manage its mainframe computers, servers, desktop computers, networks and help desk on a “pay-as-you-go” basis.

Hancock will keep 20 of its 300 information technology employees and lay off 100. The rest of the Hancock IT employees will become IBM employees, Hancock says.