Wells Fargo India & Philippines hired 10,000 people in the last two years. How many have been laid off here at that same time? Let's face it, folks, we are all replicable. For as long as there are people in other countries who are willing to work for a tenth of what we make, we'll keep losing our jobs and they'll keep hiring overseas. And let me make this clear, I don't blame the people in India or wherever. I blame the ELT that takes advantage of desperate people to sc--w American employees over. This is all on them.
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Staggering!
Post ID: @7cmt+1e448sQk
It doesn’t make it right just because other companies do it. Real leaders lead, not follow.
You must be the kid that jumped off the cliff because the other kids did it. 😂
Post ID: @2orl+1e448sQk
Then big pharma uses all that extra money they rip us off for, to contribute to the election of politicians who just keep the cycle going. Our response? Get sucked into stupid culture wars and fight each other for outcomes that are against our best interests. To quote H.L. Mencken "No one ever went broke underestimating the intelligence of the American public."
This is nothing new. Wells, as usual, happened to be behind many others in the corporate world. Many companies have been moving work to India and the Philippines for decades.
This really goes back to US government. We are the only country in the developed world that does not have a federal privacy policy. Americans are commodities, bought and sold by corps and politicians. While we're fighting about stupid stuff, they offshore our jobs, import millions of replacement workers, and permit foreign purchase of US lands and business. If a party came forward and said they would only focus on shoring up US jobs by limiting offshoring, protecting US citizens' privacy, and requiring the liquidation of foreign owned assets, I wouldn't hesitate to vote for them. Why do US citizens pay full boat for RX meds, but the same corps that can't do without that for R&D have no problem selling the dr-gs to the Canadian government for pennies on the dollar? We are subsidizing the world, while the dream is being stolen by corps and politicians.
@2njd+1e448sQk
Agreed, and they should also have to offer the same pay and benefits to offshored employees. That would put a cork in that issue, real quick.
It’s very cruel to hold layoffs over peoples heads. In the US losing your job means losing health insurance. That’s a huge stress on many people. Then, in IT we are being told it’s a culture of one- india, the US and the Philippines are all the same team. Not true when one team keeps losing jobs and getting replaces by the other teams. Add in the holidays coming up and covid and people are stressed out majorly. I think we need some regulations on how many jobs companies can outsource to low wage countries.
Laid off 2 weeks ago but first trained teams in Manila who were supposed to provide support but in reality were our replacements. Wells is sending most back shop and tech to India and Manilla with stops in all the Midwest and south cheap labor all day.
I laugh when American business cry about not finding STEM workers in the US. They made their own bed, now they have to lie in it.
No intelligent young person would get into IT after seeing their parents’ jobs getting sent to India for the last 25 years. I don’t blame them. That’s how we got “plug and play” programming, no original thought needed.
There's a HUGE difference between US-based IT people of Indian heritage, versus India-based IT people working in a sweatshop.
It is ok. The whole economic system is floating on bad debt, artificially inflated market prices.
The crash is coming. Many who live today on their lofty perches taking advantage of others will be jumping out of windows.
Here's a link to the article, https://economictimes.indiatimes.com/news/company/corporate-trends/wells-fargos-technology-extension-onboarded-10000-people-through-the-pandemic/articleshow/87994925.cms
Several meetings in risk talk about increasing the amount to 23% of previous headcounts. I work with some of these people and they are talented.
India tech help isn't much more expensive than an american fast food worker, maybe even cheaper…
Americans turned their back on unions and now labor is completely dispensable? You don't say.
Anyone who has paid attention to what happened over the past 40 years could have predicted this.
It's a race to the bottom for the lowest cost of doing business. It's how it works.
Post ID: @ros+1e448sQk
Fast food companies would never pay the wages that tech guys get.
Post ID: @fiz+1e448sQk
What is amazing is that they don’t want to provide those traditional benefits or a living wage despite taking in record profits and many paying zero income tax. Where does that money go? Any intelligent person knows the answer and it has nothing to do with the employees that actually work for their company and actually do the job they benefit from.
Most of the fast food places are close to automated already if you look how assembly line their production is. Wouldn’t take a whole lot to automate the process of dropping a burger into the cooker oven while dropping the buns into a toaster. Bottom bun drops to conveyer, meat patty drops on bun, ketchup, mustard, mayo stops, drop the veggies on top, top bun drops, autowrap it at the end, drop into bag. Fries could be easily portioned to drop into oil based on ai expected volumes. I would guess in the next few years you will start seeing almost fully autonomous mcdonalds stores. Likely have one or two people there just to make aure no crazy malfunction but you could have tech guys with remote access into the robots to diagnose/fix problems. It’s coming!
@han I dont agree. It isnt our fault it costs $22 for a bandaid at the hospital. All we want is healthcare, a vacay and decent pay. We cant help that it costs a ton in housing here compared to third world countries, etc. Our dads used to get pensions at nearly EVERY job they had so when they worked, they were working for retirement and could still pay for an entire family with one income. How about controlling who buys property. We have investment firms and foreigners buying the house next door driving up housing costs. We can afford it but the average joe cant. There are a multitude of issues on why it costs so much for the US worker. Laws arent stopping companies from leaving either.
It’s not just people. Denny’s has a robot to serve your food. Although all the restaurants are short staffed and they need servers to take orders, even robots are stealing jobs. Taco Bell has a kiosk in the lobby to order. Soon, you will order from a kiosk and have a robit bring your food. Maybe cooks/managers are safe…..for now?
I am making a goal for the montth of December to focus on personal goal of learning and enhancing skills that will help me land a job next year. how about you?
Its getting harder to keep jobs here with all the ridiculous demands Americans are making for "benefits". Can't blame the companies for doing it honestly.
Global economy, global workforce. Stay relevant and stay employed. We're 30 years into this now. It's not going to change.
I agree. What upper mgt doesn't seem to realize is eventually, they will be replaced themselves by overseas folks. They are also contributing to the trend that will leave their own family members jobless as well. Americans need to understand the repercussions of doing business with companies who take their payroll overseas. We should rally to keep jobs in the US and focus on giving revenue to businesses that keep their payroll in the US.