I don't think cheaper labor will contribute to the U.S. Bank gaining any comparative advantages over competitors. What can cheaper workforce fix here? The bank needs talented employees, which is most of those who are cut! It's awful what's going on.
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My group at a major bank is about 80% on shore Indians now as well as the offshore groups too. 95% of them are awful at coding
Seconded on the ridiculous unthought-out moves the bank makes to improve the look of its balance sheet. Proof that CEOs treat their corporations more like shell entities that facilitate speculative funny money flow on behalf of "the shareholders," as opposed to companies that offer services to customers.
If you browse this site you’ll see no matter who is President and no matter how many times a company has US or American in their name they have been shipping jobs overseas in droves for a decade or more and it’s maddening….
Nothing is stopping them. Everyone time I see an American bank or insurance company announce their new Indian CIO I just cringe. Guys got Tata and Mahindra and HCL on speed dial…
Actually the overseas workers make it worse, they can't work through existing firewalls required by the banks own security protocol, leaving customers without timely banking and finding services, but it makes the banks balance sheet look better until something breaks or doesn't work.