Wells India just hired 20 accounting and finance staff to be trained by 20 US onshore acctg staff. They are saying that they need to be trained on the basic tasks but leave the analytical tasks to the current US onshore staff. Not new for big banks, why can they just say that these positions are fully transitioning offshore to save cost. Enough with the lies. They have the current US onshore staff to update their talent profile -so what does this mean??
19 replies (most recent on top)
I wouldn't let anyone in India reconcile my bank account, let alone clean out my garage.
Do the needful and bring up any doubts.
Dejavu - They have an Indian guy onshore doing this project or heading up this initiative. They saying this are just to replace the 3rd party consultants based in India and we can just do the analytical part of the controllership job. Analytical in a sense minimize cost, maximize revenue. Are we just being fooled?
Hopefully the WFI people will only replace the foreign consultants and not onshore staff. That’s the story I’ve been told. Until then, I’ll be a team player, train when asked and remain positive. I’m not going to be looking for a new job in the WFH environment.
As most said, that is a load of stinking bovine excrement. Take it from someone who had four jobs sent to India and had to train my eventual replacement before. We got the line, “you are going to be leads and do more important stuff too”. I only beloved it once, never the second time. I will refuse to train anyone from offshore should that happen again.
Funny thing is, I joined Wells originally because they didn’t do that stuff. Then they got people from Chase and that all changed.
Now I'm seriously freaked. Some of these posts read precisely what's been occurring in my area and the stuff they told me.. I feel incredibly gullible, I've even wrote out documentation, had training at the crack of dawn with my Indian counterparts.. I think I've been lied to. They said I would be the lead state side because they needed someone to interface with people over here.
I was fed this same lie about freeing up my time for "more higher-level analytical work". I had to train my Indian counterpart, and then not too long afterwards I was packaged out.
You will be expected to rework their tasks or you will not be supporting the offshore initiative. Then you will have to work unpaid OT to do your own job.
They probably are thinking all of you are dumb; maybe you need to send more shared successes to them for taking your jobs, in IT and Finance. I hear most of IT will be in India too.
I would not train them, only give them close to no information. They can find indian jobs in India
Response #2 nailed it.
I was at a well known annuities and life insurance company in Newport Beach CA.
They led us to believe they would be eliminating the 1-2 slouches on each team and give the busy work to outsource company so we could focus on better things and valuable work.
300 IT people layoff and gone in a year.
On to customer server, operations, and finance next.
pathetic
why on earth do they pick the indians? They do not hold same values nor have same laws in the US so they are putting american customers money at risk. Pathetic
Lester's org has about 31K heads, of that 29k are in India under Banerrji and its growing like mad. That's not even factoring in Saul's org.
Management will tell you stuff like its so we can have people tackling problems around the clock. Or it will free you up so you can use your big brain to maxim capacity.
Look at us! Increasing diversity left and right.
Replacing Americans with foreigners will accelerate the process AND meet budget goals
seems they can train them themself; best of luck losers!
They head fake us with D&I stuff, all while replacing massive numbers of Americans with Indians.
yeah they're hiring another 20 heads just to help you out, so you have time to do high level analytics that you never had time before to do. How stupid do they think you are. If they pulled that on me i would be working 1 hour days and looking for another job for 7 hours. They want training to steal my job, they would have to extract it from my dead body.
wow terrible, i did see this article too, guess 70% of US jobs will be offshore somewhere
How many times have i heard that BS, they're going to the "basic" tasks and your going to do the "high level" tasks. I give you exactly 9-12mo before your let go. Anyone who deals with offshore is gone within most likely the next 6-18mo. The faster you train them the faster your out on the curb. Whatever you don't think your being loyal to the company brining these guys up to speed, the company has no loyalty to you and can't wait to let you go.
Phase 2: Offshore will run the same process and see if they can generate the same numbers, they will do this for one or two quarters.
Phase 3: They may keep you around for another 3mo so you can iron out all their kinks and then they drop kick you.
Your best bet is to update your resume and start looking in a organized manner. And whatever you do don't make it easy on them if they want to steal your families bread.
in Risk all empoloyees leaving or term.. are being replaced in india