Outsourcing, particularly on this scale, should be illegal. You should not get subsidies, kickbacks, and incentives from U.S. govt. when your only interest is to hire workers outside the U.S.
And, yes, I realize this is happening across many corporations, not just WF -- which makes post even more relevant.
OP just learned that Capitalism is not always his friend.
Also, the OP provides no citations.
How is it "destroying" the US?
The United States has always offshored work, trade between nations is nothing new, it's hundreds of years old.
If the OP Is worried about his job, he should be, based on his comment here.
If you don't want your job offshored be better than everyone else.
Or sit around and post ra ci st comments on the interwebs.
That'll get you some job security, sure it will.
I will apologize to the OP if he drives an American car, has nothing in his home made overseas (he's online with a phone/PC, so he's already failed that one), and if he's okay with bringing down the world economies by ending trade.
Maybe go all in and prove that he's 100% indigenous aka Native American while we're at it.
I'll just say it. OP doesn't like brown folks.
Post ID: @1jld+1pPPDzB
Please elaborate. Do you mean referral bonus to send US work to India? Or internal to India for hiring Indian roles?
does anyone know if there is some sort of referral bonus conspiracy taking place in India?
And the jobs not offshored are being taken by the h1 indians here. It’s ridiculous!
This is very true. Shart really doesn't bring a single skill to the table in exchange for the millions he is paid. The BoD brought him in with explicit instructions to eliminate a large majority of the domestic work force. Literally all he did is sit at the head of the table and say "ok guys, we need to downsize and outsource most of the company, who has ideas about how we can do that as cheaply as possible?"
That's it. We've paid this guy like $100M so far, for that, and only that. The other thing the BoD wants him to do is complete his task and go, so that the long term replacement won't be tainted in the eyes of the survivors with the legacy of firing everyone.
"False. I’ve been on this forum long enough to know this was the greatest and most profitable company in the entire planet. We had no layoffs, near zero turnover, and amazing efficiencies. Then Charlie took over and now we are the basement".
While it is true, you could see the handwriting on the wall when Scharf came in and everyone immediately transformed out of the "Team Member" classification and became employees, he is not solely to blame here. Anything he promotes as policy has to be ratified and approved by the Board of Directors.
The Board are the real culprits here, not only the sad sack at the helm of this rudderless ship.
False. I’ve been on this forum long enough to know this was the greatest and most profitable company in the entire planet. We had no layoffs, near zero turnover, and amazing efficiencies. Then Charlie took over and now we are the basement.
The outsourcing and offshoring trend began in the 60s and 70s as large corporations transferred their manufacturing processes to lower-cost countries. General Electric was one of the pioneers of outsourcing at the time.
Thanks GE
3 years? We've been dealing w/layoffs since 2016!
Off shoring jobs is because of Investor/shareholder greed! Investors expect a return on the investment. If Chuck doesn’t deliver, they will find someone who will. I’m not defending him. Our frustration should be with the system and the fact that we’ve been dealing with layoff for 3 years.
Wrong, that’s from the offshore folks. We can all be angry together!!
Post ID: @jrx+1pPPDzBW
I’m not a branch nor a tech person, but do you really think the average WF tech worker had ANY influence on what WF rolled out? Good grief!
Technological advancements are not equivalent to offshoring American jobs to India!
@taw+1pPPDzBW yes yes it’s actually because “Charlie” pays so well and provides such good benefits lmao
Vote by closing your WF accounts under you’re an actual customer.
Just a word to make the tech folks on here a lil more self aware. While you all are complaining about losing jobs to outsourcing, you all are also responsible for LOB and Branch personnel losing their jobs, by what you roll out. Just and FYI.
Any company that gets tax breaks and incentives from local, state, and federal institutions to do business or have a presence (occupancy levels.. cough) need to have those incentives and tax breaks clawed back for every layoff and EVERY outsourced position. Corporate America and the wealthy are the largest recipients of welfare in this country. They have what they have because they take it (without apology) from all of us.🤫
Wells Fargo is doing all it can to destroy the middle class. This is absolute proof.
I have been assured by the corporate trolls in the union threads that the only course of action ever is to leave. Somehow they never seem to apply that to their pet ragebait causes.
It's interesting that the financial services industry is up in arms about outsourcing their jobs. When it happened in other industries they didn't care....all they wanted was a cheaper pair of jeans or computer.
Welcome to the real world. If you're really that concerned about it, organize.
The only ways to accomplish this with capitalism are regulations, incentives, or taxes.
CS doesn't know anything but reduce head count. I'm pretty sure he doesn't understand the industry or even how WF operates. If he did we would be out from growth restrictions and creating new business, seeking creative, intelligent employees.
We’re literally just nuisance expenses to Charlie and the other c-suite sociopaths. Remember when they bragged about reducing headcount, as a boost to profits, at the last earnings call. They’d ki-l each one of us without a second thought, if it would raise the stock price by 50 cents. So yeah, if offshoring reduces expenses then they’re all in.
No one stopped manufacturing jobs from moving to Mexico or China, no one is going to stop white collar jobs from moving off shore.
If only there was some way domestic workers could unite to put their thumb on the scales…
Billionaires and corporations literally exploit and use up everyone and everything they can in the name of profit and accumulation of obnoxious wealth. We’re nothing but talking meat to them.