"When Mr. McNamara arrived in 2015 about 70% of its 10,000-person IT staff were outsourced, Target officials said. Mr. McNamara told The Wall Street Journal in early 2020 that with outsourcing, “IT projects were always late and cost too much, and they were never right.
Today, Target’s IT team is about 4,500 people, less than 7% of whom are contractors.”
https://www.wsj.com/articles/target-cio-mike-mcnamara-to-retire-next-year-11630621368
# of Employees: 409,000
MARKET CAP - 119.23B USD
Charlie and the gang are short termers. They don't care about long term success. They are here to reduce costs to get those bonuses and drive up the value of their stock.
One way to do it is offshore jobs to cheap foreign labor. It doesn't matter if this creates a mess. Charlie will be gone by then.
A 2013 Economist article about GE reshoring jobs to the US should have stopped late comers like WF from offshoring our jobs … but the dufi at the top apparently don’t read.
Today, our Chase leaders are on a drunken binge. And it is not just IT. It’s everyone. You can easily figure out who is tech and not. Also check out the jobs here and internationally. No one is safe.
Now let me get back to TikTok, I mean, work.
https://amp.economist.com/special-report/2013/01/17/coming-home
Outsourcing =/= offshoring
The first is contracting with other firms for IT work. The later is shipping your jobs overseas and the foreigners are still your employees to reduce costs.
Target = 1900 stores
WF = 5000 branches, 12000 ATMs
All of which have supplies and infrastructure, including cash.
But do tell me more about the complexities of trucking in toilet paper, and how easy it is to handle mortgages. calculating a payment is not the most complicated part, anyone who has bought a home could tell you that is the least of the process.
Sophisticated Operations Research Management = SORM
"All of which are well more complicated than ringing up toilet paper."
Target does a lot of things that are very complicated. Think about supply chain. They have to coordinate with hundreds of suppliers to keep shelves well stocked based on actual demand at thousands of branches. This also has implications for logistics - truck routes and consequently arrival times and warehouse spaces need to be in sync, along with optimizing truck routes to save on fuel and distance. Sophisticated Operations Research optimization algorithms need to be in place.
This is far more complicated than computing payment amount on a mortage.
Yeah wow, all these super exciting financial products we're slinging here...very impressive
So they basically learned the lessons they will learn here about outsourcing very soon and that Chase learned when this bunch was there.
Target? Wells Fargo? what? are you confused because they both have red in their logo?
Also they offered me a full time position and I said thanks but no thanks. It’s yours….
OP. I used to contract at TG in IT. You should go there. Highly recommend it LOL.
I’ll be super impressed when Target starts selling mortgages, HELOCS, auto loans, investment accounts, commercial banking accounts, advisory services, credit cards, savings accounts and is also regulated by the OCC, CFPB, SEC, Federal Reserve, and FDIC. All of which are well more complicated than ringing up toilet paper.