Outsourcing the Wells Fargo IT operations will be the final "blow" that will cause the company to go bankrupt. All of the Wells Fargo business units rely on the Wells Fargo IT systems and support. There is a great knowledge required to operate the Wells Fargo IT operations. It cannot just be turned over to some outsourcing company. If they do that will be the final demise of Wells Fargo. Mark my words.
Very true, @Z0EUzty-2pns.
Wells Fargo source computer systems are fine and well managed. So an IBM mainframe system is a key source of data and it is just too bad that the young people today are not trained in college to use COBOL, JCL and other mainframe system software that is not obsolete, but the most powerful computer processing system that exists at the present time. Many companies still use IBM mainframe computer systems as their main computer processing system. Just because only the "older" programmers know how to program on IBM Mainframe systems does not mean that the IBM Mainframe computers are "obsolete", it is the younger programmers skill set that is "obsolete".
This bank isn’t going bankrupt. They will outsource and cut your expensive job! And get a fat bonus doing it.
The systems currently in place are a joke. Let them offshore, then you can get TAA benefits to cover training to get you up to date with IT. Wells should never have tried to own their own IT systems but then again, the systems being used are so outdated, it probably makes external audits near impossible.
AGAIN OFFSHORE NOT JUST OUTSORCE!!!
The reason it’s so expensive to outsource is WF is running ancient technology. Have to find older workers that remember code from the 70s.
Many companies are outsourcing, especially their IT departments. None of them have gone under. It is legal? Yes. Is it ethical? More than likely not, especially when US based employees have their severance held hostage unless they train their replacements. My only advice is to tell your children to pick a career that requires a physical presence in the US and hope that H1Bs cannot fill it.
This will happen the same as other companies... you will be re-badged to the new IT company - maybe InfoSys or other. Else you will train your replacement. This is why CTO SD left the company... nothing to do with the outage,