When will they realize that cheap labor doesn’t mean quality labor? No matter how much they save by outsourcing, they’ll lose even more in quality. People here end up wasting time redoing the same work just to fix mistakes made by those who don't know how to do it in the first place. I wouldn’t mind outsourcing as much if it actually got the work done, but it doesn’t! When will they learn?
18 replies (most recent on top)
The trick is to time pulling the rip-cord just before the plane is about to explode. And jumping out early enough to avoid being hit by the falling debris.
Shutting down Hudson Yards would do more to solve our employee expense issue than all the outsourcing that's been done thus far.
Do they still confiscate their phones on entry into the building? That should tell you something right there with how much trust they have in our “partners.”
Remember it’s only about what they can do for shareholder. So when shares start to drop cause all the issues maybe the share holders will vote to keep smaller profits as opposed to loss. But again the only important person is the shareholder. Who cares about the customer or the workers.
If they brought all of the jobs back onshore, do you think these banks would make any money or break even?
Sadly its not likely to change. As a senior manager in my group let it slip during a meeting "We need our international partners due to their low operating cost." aka they're cheaper labor, I mean Wells doesn't need to pay any healthcare cuz India has universal healthcare, that alone saves the company a bunch. We need to disincentivise outsourcing and reward companies that hire locally. Right now we just throw subsidies at whatever sticks with barely any strings.
Ugh, preach! "Cheap labor" is right. I'm dealing with the fallout of this every. single. day. It's like they're trying to prove some kind of "how low can we go" record with system quality.
Remember how Rocket just bought Redfin? They're building a freaking ecosystem while we're stuck trying to explain to customers why their mortgage application is erroring out because some "fix" from the P&I team broke ten other things.
Seriously, I've got a folder full of screenshots and ticket numbers documenting every single glitch caused by these "updates." I'm basically a full-time bug reporter now, because they gutted the help desk and made us all use that black hole of an automated ticketing system.
It's not just about the extra work, though. It's the waste. We're wasting time, the customers are wasting time, and the company is wasting money fixing stuff that shouldn't have been broken in the first place. They think they're saving a buck on labor, but they're hemorrhaging money in lost productivity and customer goodwill.
And don't even get me started on the morale. It's like working in a sinking ship. They keep telling us everything is fine, but the water's up to our ankles. Meanwhile, management is probably patting themselves on the back for hitting some imaginary cost-cutting target.
Honestly, if they don't start investing in quality and bringing some of this tech work back in-house, we're going to be left in the dust. Rocket's gonna eat our lunch, and we'll be left explaining to our next employers why we spent our days battling a system that was held together with digital duct tape.
Anyone else feel like they're living in a tech horror movie?
I work in our proprietary mortgage system. Ever since they outsourced tech the quality/functionality has taken a noticeable and severe dive. The I&P "engineers" add one new feature or fix one issue which causes 10 more that aren't realized until the releases are fully pushed out. Front line employees are now basically the QA testers expected to report issues through the automated system since they also removed support from the help desk/life chat and just automatically direct us to make a ticket now.
I don't respond to their teams request
I don't reply to their disto group - only the sender
I don't attend their meetings to explain their job
I assign white men the good work first
White dudes rule
It’s sad how little executives really think of domestic employees to think we can so easily be replaced with overseas parts. Let’s watch as they bury the lead on the “root cause” of the control breaks and operational risk events. Where did it happen? Oh WFIP…. Not important.
Nailed it. These JP bro mercs couldn't care less about the long term success of WF. It's a stepping stone gig for them, and the whole place can burn the ground the minute they move on. They have strong economic encouragement to implement cheap fixes and cut corners, whatever it takes to look good for a year or two. If it all goes to heck after that? Not their problem. In fact, they'll likely be working for a competitor by then and it will be good for them if WF fails.
How they expect the same quality is mind blowing. That’s right it is just recycled VPS moving from one bank to another bank. Usually a 3-5 year cycle.
The people making these calls probably don’t plan on being here when the chickens come home to roost. Ultimately what’s most important to them is that they can show shareholders a balance sheet with decreased labor costs. By the time the house of cards they’re building with outsourced labor completely tumbles, they’ll either be retired or will have moved on to their next gig. Worst-case scenario they’re still here for the sh*t hitting the fan and get a golden parachute out of the deal.
It’s mind blowing how much faster an onshore person can accomplish a task than their offshore counterpart can. Don’t even get me started on the language barrier.
All my personal data (ssn dob name) has leaked due to the National Public Data leak. This happened in FLA, USA. I have had to freeze all my credit bureaus.
National Public Data, an online background check and fraud prevention service, experienced a significant data breach. This breach allegedly exposed up to 2.9 billion records with highly sensitive personal data of up to 170M people in the US, UK, and Canada
Why would an executive management team that's focused on short-term profits care about the long-term health of the bank?
By the time it fails, they'll be long gone, with hundreds of millions in compensation.
They don't care
Exactly. The Bank doesn’t get the quality of work from offshore workers. If clients knew the financial risks with workers outside of the country seeing their private information no one would do business with them. And some of these people work outside an an office with no controls.