Thread regarding Wells Fargo & Co. layoffs

Outsourcing doesn’t even work for call centers. They tried it and it failed once. Why are they returning to it? We also need people here to be employed or there will be no reason to have a bank. Our employees are our customers. To my knowledge, we don’t have any customers in I or P.

Post ID: @pwl+1rZWpUMw

Not sure why your post is being downvoted. OP’s number is WAY off which reduces credibility. It’s in the 40k range.

OP - at a minimum you can see the true number on TW by drilling down. Not saying I’m cool with I&P but accurate facts are important.

It's just a matter of time before we become a third world country. India will offshore the jobs back to us. It's all just musical chairs. Meanwhile you can do your part by using local banks.

Good luck with the India teams taking on anything but kicking off batch jobs. I’ve never seen a more incompetent group than the ones I work with. I’m surprised they can even find their way in to the office everyday without a detailed set of instructions. There will probably be a big data breach, Congress will investigate and jobs will come back.

Entire executive leadership team should be relocated to India. CEO CFO need to all operate from India.

They've been trying this since the late 90s as has every other bank and they can't make it work long term.
But now WF has decided that India is OK but Washington or Oregon etc is not employable cause it's too far from hubs.

We shall see how this works out. I asked someone in I&P a simple question about their process. He simply forwarded me their process document, but it had nothing to do with my question. Follow up questions were ignored.
It’s only going to get worse.

If a politician wanted to gain the white collar job vote, it's very simple. For every $1 spent on wages sent off-shore, the company must set aside $2 for on-shore pay increases for team members and then prove that's how it was spent. De-incentivize the off-shore benefits by incentivizing on-shore growth. Seems too simple to me which is why it will never happen I suppose.

your employee count is wrong, way too high.

Get it in your head... they don't like you. You are an overpaid, inefficient US worker. You can be remote or in an office -- it doesn't matter -- they don't like you. Tomorrow at 11ET on CNBC Mike will be telling the world how "they" are making the "firm" more efficient by laying you off, getting you to quit, and making the environment as toxic as possible. He probably will not go into that much detail. We (my fellow laid-off workers) will see how we contributed to the success of this effort. Say anything to make the stock price go up.

I work with an offshore team. They are very hard working and spend most of their day on office, then telecommuting in the evening for state-side Meetings. I really value these employees.

Despite that, I disagree with this push to offshore everything. It only hurts the U.S. worker.

So many thoughts. The issue with offshoring to India or the Philippines is everyone is trying to do it so every company is fighting for the same talent pool. This is even worse when you consider the best and brightest Indians generally get work visas to come to America. So you’re choosing from a limited pool of people who aren’t the brightest to begin with.

All of this outsourcing is a result of CEO and executive salaries being tied to profits. What boards and investors fail to account for is when po-p hits the fan…CEOs will generally leave with their golden parachute.

Bottom line is I think some outsourcing is okay for mundane call Center type of roles but when you begin talking about critical functions with regulatory impacts then I think you’re setting yourself up for failure. Not to mention the fact you’re not actually increasing efficiency…

Article is stupid.

If your job can be done in an office, the office can also exist in India.

You will own nothing and be happy

Not so fast with disliking offshoring.

More and more offshore workers are boxing themselves up in long wooden crates, and shipping themselves to the US to marry onshore employees for instant citizenship.

In some cases, onshore employees are enjoying multiple offshore workers. The challenge is finding room for them all before your wife finds out about them. Only so many people can fit in a closet.

Anyway, hopefully no one gets laid off today.

And American dollars go off shore....way to support America!

That’s really sh---y to read..