Thread regarding Northern Trust Corp. layoffs

Layoffs in US and hiring in SE Asia driven by massive international wage gap

Financial analysts at NT Bangalore report on Glassdoor that annual compensation averages 335,000 indian rupees ($US 4,400). This is less than 10% of comparable Chicago wages. NT can hire 5 Bangalore analysts for each Chicago layoff and still cut comp costs in half. Benefits savings are also huge because health insurance is far cheaper in India than the US.

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The USA cost of providing annual health care to ONE domestic employee likely exceeds the annual average wage compensation of one employee in India ($4400).

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