Thread regarding Charles Schwab Corp. layoffs

Ah yes, the ever important global unemployment rate.

At a global level it’s a wash. Person in US loses a job, while one in India gains a job. Move on.

Not One, at least 3,
1 Fresher, 2 Medium experience and 3 If need high experience
And all are replaceable by each other, without much cost.

And f-ck-ery continues

At a global level it’s a wash. Person in US loses a job, while one in India gains a job. Move on.

wait till they hand the phones over to people

Nope . It is not just CS but Whole operation or IT can be outsourced whom you will never call.

Oh perfect - wait till they hand the phones over to people we can't understand and can only read from scripts

Laughing at how this made it into this thread.

using 🌐🌐🌐🌐🌐🌐 ,.
No doubt you may be working in the that team.

@2gvj+1tUnEPOI

Laughing at how this made it into this thread.

Rama

Seems he owns HARNESS NEXT GEN..
REVAMP FTE in harness next gen team , they are worthless.
Stop GC/PR for contractor , They are working for that.

Audit this team for input they take and output they produce.

Wow! While other companies have already spent the past decade learning that offshoring didn't yield anywhere near the savings nor skills they expected, Schwab is only NOW going to try this and repeat those same failed experiments?

Others failed?

Schwab failed.

Schwab had offshore development in India, Poland, Russia (seriously) and Ireland. Onshore third party in Minnesota and elsewhere (no RTO required). A few years ago it was announced that everything would be in the US. Results, communication, VDI workstations, security and quality showed it wasn’t worth the minimal savings.

After failing to move everything back to the US we now see this. More investment a dozen time zones away.

The problem is that Tiny and Rama think coding in overweight languages with commodity resources will yield top notch results. They’ve failed for many, many, many years. And now they’ll do it again, telling the Board they’re doing great and fixin’ things.

Right.

Wow! While other companies have already spent the past decade learning that offshoring didn't yield anywhere near the savings nor skills they expected, Schwab is only NOW going to try this and repeat those same failed experiments?

This is rather telling cautionary tale of how far behind the rest of the world Schwab really is and how inept they are at learning outside lessons from their peers and predecessors.

This sure inspires me to invest MY money with Schwab. LOL

Awesome that we'll send more work to the same area where most wire/account fraud originates. Love this for us. /s

Then Schwab will control something like this
https://www.youtube.com/watch?v=IcBCy5SYEps

This is great. I look forward to the majority of I&O being outsourced. Not sure if we shall notice a change in quality.

Smart move!

They will exchange user IDs and pretend they are working when someone is off.

Then you have no idea.
for smaller company , they may be .
But major service firm, answer is NO, I donot like SERVICE company but they very good system in place.

In India they take one userid and make videos of systems and train twenty of them and slowly push them into the company... They will exchange user IDs and pretend they are working when someone is off. The gullible Americans have no clue. The top brass is fine the lower level resources get impacted

Cr-p. This is not good.

It's a good thing if we forget about the loss of jobs for a minute. We can hire better resources and put accountability rather than relying on ever changing vendor resources and senior(cough) resources. But yeah, this will be a blow to employees in US.

See your team composition and Location

• -->If people are observing for last 3+ years.
• -->Most service vendor are hiring people in Hyderabad.
• -->Just find out in your team how many people are working in Hyderabad .
• -->You will get answer .

This link also raises another Question

• > is H1B or Indian Visa worker in Schwab will relocated to Hyderabad?

there were rumors on site opening captive in India.
Many people laughed out loud.