Thread regarding Wells Fargo & Co. layoffs

I heard it was outsourcing, not necessarily offshoring.

India actually has some pretty decent tech workers and entry level workers. The problem is they aren't that much cheaper than our onshore employees. WF isn't hiring the higher quality off shore workers, they are going for the cheaper ones. Occasionally there is a gem in those, but generally WF gets what it pays for.

Been dealing with growing offshore support both on the business side and platform support side the last year. On the business side, they'll say yes, we have access and can support this process. A week later, I notice nothing has been done, so I do it myself again, and reach out. Now they claim they don't have access and want the steps to request access which were already provided to them 3 times in step by step instructions. On the application/platform support side, our old onshore team pushed updates, fixes, and changes within a couple of weeks, or days in an emergency. The new team takes months, and rolls out numerous defects, and then just doesn't provide some of the original objectives altogether, those are now scheduled for the next release which is now going into 3 months since last. We have onshore analysts now having to come up with creative solutions to code/report/workaround the defects and LACK of required objectives in order to deliver reporting to auditors and end users. We now have 2 separate meetings just to get change requests approved. The first is a demo for a pseudo approval, the second the actual request for approval (usually 1-2 weeks later) which they then fight us on asking for more adjustments/changes that weren't discussed in the pre-approval meeting. Once that's out of the way we have another 1-3 week wait for the change to go in and that is if there isn't a TECH FREEZE.

@OP - If you can verify as you say, then verify. Post a screenshot or something in IMGUR and link to it.

Curry Fargo HQ in Hyderabad, India has all of your personal financial information.

We're going to have to change his nickname from chainsaw charlie to chennai charlie.

Hey @rhd+1odpa6QR ... Is the clogging due to mide, or mode or core?
When I look back at Wells... they didn't have a platform. Instead, Wells has many fiefdoms with "facilitators" at their top. No common "anything".
So the individual tech worker did not gain any institutional knowledge -- no matter how long they stayed there. So it was easy for the Sarlacc to dispose of us -- and replace us.

@1occ Is clearly an Indian.

@1sna MORTGAGE PRODUCT SUPPORT AKA mortgage

offshore can only follow a script. If its not on the script. They are lost. They can’t think for themselves.

I don't blame the bank for offshoring. Wells Fargo has been overstaffed for many, many years.

Why overstaffed? Because onshore employees are inefficient but think they're great.

I love all the posts about how sending jobs to India or Philippines will 'reduce quality'. Uh... Reduce from what? Most onshore bank employees are low functioning relative to their peers in the job market.

The result of offshoring is the same basic employee output for less money and less complaining. It makes good business sense.

Don't take it personally.

HI!

WHAT IS 'MTG PROD SUPPORT'?

THANKS!

I believe it. Security is even being hit with layoffs now.

F offshore. The bank wil get what they deserve. One bad decision after another. Deserve to fail due to executive incompetence

but what about follow the sun coverage????

Can't wait for the day when money goes missing and the only culprit will be India. Then maybe the customers will get concerned with overseas access to their accounts.

@rhd+1odpa6QR yes, Technology..... trust me... there is a plan in place!
Hold out for the severance package.
I didn't think "they'd" cut my team any leaner....then I got the call.

which organization is this? Technology? If so, I might as well hang around until they offer the package to me.

Yeah, the off-shore worked perfectly when deposits went missing for days. I'll get my popcorn now cuz it's going to be a great show of incompetence.

This is how large scale offshore efforts start. Move the support and maintenance offshore to cheaper resources. Then start moving a lot of development.

What is 'mtg prod support'?

Just like in the Scrum teams, the more you offshore, the less the onshore based teams will be engaged (or want to be engaged). The knowledge will slowly be lost. The one onshore team will have to chase three shifts of offshore to keep up with changes and stay relevant, further eroding morale... creating a vicious cycle of depression and irrelevance onshore. Yes I'm bitter.

Cheaper, yes.

Worthier, no.

Remember WF execs - you get what you pay for.

Details or it didn’t happen. Don’t tease us. Titillate us!🫠

yep. "The Firm" is offshoring 40-60% of the US workforce, I've heard, and I believe it based on what we're seeing.