I've been training peers in India for a few weeks. I asked my manager if they were going to take over our duties, and my manager said no, they were just going help us with our workload. I've heard of other groups training their replacements then getting laid off. When do you think I'll find out whether or not they are replacing my team?
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Wells Fargo should disclose to the bank customers that their confidential information incl. personal and business tax returns, bank /brokerage statements and anything that provided to WFC are reviewed by Wells Fargo employees in India.
If you are being asked to train someone for your job - you will be looking for another one.
We are building a middle class in third world countries and creating a larger poverty lower class in the US. Wells cannot even do business in India since all the banks are state owned. US Politicians keep pandering to Corporate America by doing nothing about it while Government entitlements keep increasing as more and more jobs are offshored. I guess it will take the Government going bankrupt before anyone give a cr*p about us…by then it will be too late as we watch the Stars and Stripes being lowered one last time and replaced with an Indian or Chinese Flag 🙁
@1ari+1muTcc07 - yeah, just keep sending more, that's a wonderful plan.
India will freakin own us.
Displaced in US this year approaching 4000. Hired in India/Phillipines approaching 5000.
Yeah this has been my experience as well. I will say, that most of the south Asian teammates I work with who live in the US and have been here for a while are great and I enjoy collaborating with them. The offshore teams living in India, not so much. I think it may be like you say, there’s some sort of cultural barrier that they adjust to well if they’re living stateside (especially if they went to college here) but it’s harder to do so if your only interactions with Americans are remote with a huge time zone difference.
Once all the US corporations have offshored all their white collar jobs they’ll may just have to move the full business overseas anyway because all of their American customers won’t have income anymore.
SEC and FINRA really need to look at all the information on clients that is shipped overseas and one could argue it is a national security concern.
Last year I told my boss hey, this offshore push is turning into a shove, let’s look for some low value, high effort work we have and send it there. My idea was to free up our onshore team to do more innovation by dumping the “spin cycles” as I called them.
My boss refused. Didn’t want to send anything offshore so he dug in against it. I left, I knew what would happen. Yup, the OP could be anyone from my old team. Now management is looking to toss the team overboard because they don’t “provide value, just output”.
Beware these types of managers, they can’t see the forest through the trees.
The easiest way any company can immediately boost net profits is to cut staff/salary expenses. The higher profits in turn temporarily boosts the stock price in the short term based on favorable quarterly reports, etc.. End result - every CEO's trusted playbook to milk a company for $$ at the expense of everyone else.
“ All your confidential information is being shipped overseas. Social security numbers. Tax returns. Paystubs. International identity theft. India sucks!”
Your private data is already overseas. Intuit has been using offshore support since 2005. It’s not unique to wf. There’s 42 million Americans using turbo tax.
Phase 8 - C-Suite laughing all the way to the Bank
OP, I had to write job aids for the offshore team for a job I was in & was doing this project /line of work for just a month or two. The person training me was rushed, rude, brief & never put anything in writing. You'd think the manager would get the experienced person to do the job aids, but nooooo. I was told the same when I asked "they will support us".... It totally didn't jive.
Customers need to know on the mortgage side that all mortgage jobs are going to India. All your confidential information is being shipped overseas. Social security numbers. Tax returns. Paystubs. International identity theft. India sucks!
My team maintains a ratio of 70/30 US/India. It's been that way since the team was formed.
The India folks are dotted line. They are decent and stable, no one has quit. But they are also the worst performers. Zero initiative. They aren't leading change and new development. They get all the tedious work no one else wants to do because they have never displayed an ability to innovate.
If I have a 1000 line spreadsheet I need some data crunching from, I'll send it to them to work on. I know I can trust their work. But they just can't function independently like myself and my teammates.
There is some sort of cultural barrier with Indians who haven't came to the US, where they need to be told what to do. I have to lay put specific steps of what I want them to do. I can't just tell them the end state of the work I want to see and expect them to figure it out. I've tried enough to have learned I end spending more time answering questions than if I just tell them step by step upfront.
Stop saying partners, they are replacements.
When you get the confidential meeting invite.
really depends on the group. been working with India for years. they help support us and while are taking jobs of laid off folks most backfill positions go to India. then if any net new ablit 2 of every 3 are India.
In technology, I work with COSMIC all the time. That team lost their only SMEs. Two of them. Now when I find an issue with COSMIC I’m talking to the same team, but with two new members. Care to guess where they’re located?
@kwq You forgot these:
Phase 5 - The knowledge base and accountability dwindle down to zero.
Phase 6 - Customers flee to Apple's new retail banking product, after they have been sufficiently humiliated and abused by the lack of reliable and timely customer service.
Phase 7 - C-suite wonders what went wrong.
Managers are under tremendous pressure from the C-Suite to say which functions and responsibilities in their department can be offshored. Charlie wants to offshore as many jobs as possible. If you still think your job is safe, it’s not. It’s only a matter of time.
The C-Suite’s one and only strategy is aggressive cost-cutting through employee reduction.
They pulled a fast one in our department, even without offshoring. They asked several senior employees to cross-train (U.S. based) mid-level employees “to increase collaboration and agility”. As soon as the cross-training was complete, they laid off the senior employees.
You might not think so, but your once-trusted managers will lie to you to protect their own job. It’s happening every day across the entire bank.
Phase 1 - train offshore resources
Phase 2 - all new/replacement hires are now offshore
Phase 3 - layoff in US, replace in India
Phase 4 - Profit
If your US based team isn’t also growing then…
Unless your group is consistently overwhelmed with work to the point of missing critical deadlines, what would be the purpose of bringing in offshore help? They are there to replace you. And eventually most of the rest of us.
You won’t. You will just get axed. You already know the answer to your question.