https://m.economictimes.com/news/economy/policy/wall-street-giants-get-swept-up-by-indias-brutal-covid-wave/articleshow/82439513.cms
Ftfa - notice no option of shifting work back to usa....
A Wells Fargo employee said some work is getting transferred to the Philippines, where staff is working overnight shifts to pick up the slack. The San Francisco based bank employs about 35,000 workers in India to help process car, home and personal loans, make collections, and assist customers who need to open, update or close their bank accounts.
Nasscom (https://nearshoreamericas.com/nasscom-spends-us510000-lobbying-government/) the key lobby group for India's $194 billion outsourcing industry and its almost 5 million employees, has downplayed the threat to operations. But Mishra and fellow analysts at Gartner say they're fielding a daily flood of calls from anxious global clients asking about the Covid-19 situation.
India's total coronavirus infections have risen to 21.5 million, of which about a third were added since mid-April. The state of Karnataka, whose capital is Bangalore, reported almost 50,000 new infections for a second straight day, with 30% of all results throwing up a positive result.
Experts have warned the crisis has the potential to worsen in the coming weeks, with predicting as many as 1,018,879 deaths by the end of July quadrupling from the current wave.
Before the pandemic, this cluster of glass-and-steel towers housed thousands of employees at firms like Goldman Sachs Group Inc. and UBS Group AG who played critical roles in everything from risk management to customer service and compliance.
Now the buildings are eerily empty. And with case counts soaring across Bangalore and much of India, work from-home arrangements that have sustained Wall Street's back-office operations for months are coming under intense strain. A growing number of employees are either sick or scrambling to find critical medical supplies such as oxygen for relatives or friends.