Thread regarding Wells Fargo & Co. layoffs

looks like Asia has more than anywhere - @1fwg+19j8kPYx

wonder how they are allowed to do this, should be equal to all places based on size

These threads crack me up, they passed NAFTA 25-30 years ago where were you when the mass manufacturing job exodus was in progress now they're coming for your jobs boo hoo.

This chart makes no sense. This is an AMERICAN company with AMERICAN customers.

I would guess most of those customers DO NOT know their data is viewed by people in other countries who are not subject to our laws. Think they aren’t selling that info or sharing it with the other banks they work with? Don’t be naive.

Who's the minority now? Ride's over

Population distribution (2020)

Asia (59.54%)
Africa (17.2%)
Europe (9.59%)
North America (7.6%)
South America (5.53%)
Oceania (0.55%)
Antarctica (0.00%)

You people, sound like the irish. Crying about your lucky charms

Post ID: @1kgr+19j8kPYx

"Why would you want to sell out your fellow Americans so WF can get cheaper labor? (because that's what it's rally about- cheap foreign labor)"

I would encourage my fellow Americans to move up the food chain and add value rather than competing over process oriented roles that don't pay. Stay relevant and stay employed.

as one other brave person mentioned the language barrier is a real thing, heavy accents, lack of enunciation and speed talking all contributes to the issue. My guess is no one wants to say anything for fear of being labeled racists when it's not about race at all. I would love to know what is actually being said!. But no one will talk about it

• I've been on calls with senior people where no one could understand what what was being said and instead of speaking up everyone in the background just agrees they have no clue what was said and just try to move on. That's a serious problem. I doubt it will get fixed if no one is brave enough to call it out.

anyone notice SVB's latest Friday post said something along the lines of "anyone who knows me knows I hate the term off-shoring. we're all on-shore.. US, India, UK.. and we're a global company".

Seems like his way off trying to calm down any negativity around moving jobs to India, but good luck with that. US based employees wills till be sour that they're losing their jobs while the company saves money and hires there. Last I heard it was something like they could get 3 hires in India for the price of 1 US?

@1kgr+19j8kPYx the corporate logic is that US people are behind the curve on technology. Of course, this has everything to do with US companies expecting free labor out of interns, but not being able to avoid paying them if they do actual work, so internships are useless in the USA now. Yet overseas grads graduate with real-world experience.

We're stuck as pawns in the big-wigs corporate prisoners dilemma. The best move is to cooperate and keep domestic employees who you train up to be what you need. Domestic employees have domestic bank accounts, they take out loans to buy homes and automobiles. That doesn't happen with money sent overseas.

However competitor companies think they can make more, spend less by offshoring and increasing employment requirements while decreasing compensation, so then our company has to do the same to compete since shareholders matter instead of citizens, and what happens? Domestic gets screwed, the company gets worse technology and service, and the big-wigs still collect fat paychecks.

Unfortunately, nothing will change until the current model becomes unfashionable. But then they'll just outsource to the next newer, cheaper, tech country.

I feel bad for anyone trying to navigate our procedures/processes/tech over a 12 hour timezone shift where our documentation philosophy is “Oh, someone will ask if they need to know anything...”

So, an Indian citizen employee earning money and spending money here is OK but a USA citizen doing the same isn't? Also, can't you just create relationships with those same citizens?

Why would you want to sell out your fellow Americans so WF can get cheaper labor? (because that's what it's rally about- cheap foreign labor)

Yes 99.9 and no my job has not been outsourced to timbucktoo.

Ride's over, $uck it up

I cant understand them, so I think if they want to help in the US, they have to learn to speak the language correctly and clearly first. Plus their quality of work is far lower.

I’m sure with the new goals and objectives, they are setting up to send some more. Sounds like they are setting up folks to fail and get rid of folks that way.

Just because the other banks are doing it doesn’t make it right. As my sainted mama used to say, just cause the other kids are jumping off the cliff, does that mean you will too?

I was happy enough to come in this morning and read the status reports from the folks who worked all weekend to remediate some server issues while I was at home enjoying time with my family. In IT, it makes somer sense I think.

Outsourcing is just the way of the world these days. Since the Government changed the H1B Visa rules, the people we work with are not allowed to live here (and spend money in the US) so there are no personal relationships which makes things more difficult but it is what it is.

Focus man, you're half way there to 20 Questions... You could be lazy and just do the same questions for the Philippines though. Anyways.. All the major banks are following this model, so not sure where you're going with this other than to gripe.