Thread regarding Charles Schwab Corp. layoffs

Layoff 20 % and outsource to India

This will save the rest of the jobs in US.

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| 2422 views | | 16 replies (last September 14, 2023) | Reply
Post ID: @OP+1okrRDKc

16 replies (most recent on top)

In 2019 a lot of the Infosys people are actually really good. I think the loosened standards post pandemic allows some less competent people to join.

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Post ID: @hyzr+1okrRDKc

Great idea! Seems a decent portion of India's work force is stealing from people here, through fraud/scam. We should TOTALLY trust them.

Then we can really have nothing but Customer Feedback Vindaloop all day long (South Park, anyone?).

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Post ID: @huqv+1okrRDKc

The bigger question is why we are outsourcing to India.

I am honestly surprised that countries have been allowing us to sell products in their respective markets without asking for at least some of the work to be done there.

Like really, why isn't Brazil and Mexico and Ireland asking for the same thing India is requiring now? Or did we really believe that they will allow expensive labor here to leech off their workers?

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Post ID: @gmwf+1okrRDKc

Yea few contractors were let go few weeks gao

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Post ID: @rib+1okrRDKc

@pfw+1okrRDKc do you know if they ended contractor's contracts before the contract end date?

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Post ID: @xwf+1okrRDKc

STS has been dumping WiPro, Infosys, and other contractor bands for months (cost cutting measures).

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Post ID: @pfw+1okrRDKc

Leader of STS admited months ago it spents billions with a B of dollars on off-shore contractors. Want to save $500M? Dump 75% of offshore, replace them with on-shore FTEs that don't treat us like a training ground then leave and actually DO WORK. Problem solved.

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Post ID: @gmh+1okrRDKc

@hkz+1okrRDKc 58s need to babysit offshore and make sure they are actually getting something small done and not just watching anime all day (had one who did this when it took him over a month to add a column to a SQL table). They also need to constantly train new contractors and FTEs who are constantly rotating in and out since Schwab has no interest in building domain knowledge and would rather have cheap labor. Just look at how Schwab gives out raises and promotions and it will make sense.

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Post ID: @ccv+1okrRDKc

@hkz+1okrRDKc 58s are required to sit at the meetings all day and babysit the new team members as CS is a revolving door. I heard the management literally won't let 58s code.

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Post ID: @ilv+1okrRDKc

OP, in my area (STS) we are already saturated with 90% of team members from India, onshore/offshore. Not sure what to tell you.

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Post ID: @xvq+1okrRDKc

The El Paso location was opened a few years ago to bring back offshored roles. Not because Schwab thought it would be the right thing to do but because they were in violation of how many jobs you can offshore. There is a limit and Schwab already pushed it once.

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Post ID: @doc+1okrRDKc

What is crazy is during Covid, there was talk in STS/SCS about onshoring work from India. There were concerns about having too much work over there and contractors working from home. This was also a big deal for some of the larger vendors that supports groups like the bank.

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Post ID: @bbn+1okrRDKc

Why do people with role 58 stop coding in STS who are in development projects?

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Post ID: @hkz+1okrRDKc

We need more MDs and less Ds (PL).

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Post ID: @tqe+1okrRDKc

Wipro is ready to handle more work. India job market is in recession. We can get 1000 applicants for every job we transfer.

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Post ID: @brq+1okrRDKc

There is already a huge offshore presence in STS. They just need to cut down MDs and directors

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Post ID: @uxh+1okrRDKc

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