Major banks like chase, bqlank of america,truist spend more dollars on technology while wells fargo is more focused on offshoring the jobs rather than investing in domestic tech talent. Have you seen the overall quality of the offshore work in other companies ? Companies end up wasting lot of money by offshoring the jobs. If you don't believe it, ask anyone working in such companies. They will tell you all the horror tales of offshoring
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@2osa -> I mean at least she cares about something? More than anyone else cares about. Not just her but absolutely no one in any party, right or left, cares about offshoring of tech (or any) jobs to India.
Those other banks you mentioned have already done what Chainsaw is doing. BOA has over 70% of tech offshore. They have a more mature model. Yes, they invest more in tech but how much of that is rework due to the poor quality, who knows. Chainsaw didn't think of these things himself. He just brought over the JPMorgan playbook which also sent many thousands of jobs offshore. Strange that Elizabeth Warren cares about a $15 fee being charged an American but not about that American's $90k job being offshored.
WF doesn't care what Indian culture is like, so long as they are cheap. They could be sacrificing children for fun and eating puppies alive in the break room and Hudson Yards would not care. "Diversity" nonsense is for American plebes only. Doesn't apply in NYC or I&P.
At a fundamental level, Wells Fargo has not and does not offer any incentives to its workers to do anything beyond filling a seat and checking boxes.
There is no reward for process improvements, better design, proactive development to reduce problem occurrence rates, etc.
Wells Fargo prefers its workers to keep their heads down, ask no questions. The bank has no time for building and appreciating anything wholistic. There is no One Wells Fargo.
It is execs getting paid, all managers below living in fear and doing whatever it takes to not be viewed as a source of friction and all of the rest of us who wake up each day wondering when we will either quit, get laid off or remain miserable sticking around.
Anyone trying to be the contrarian to this eventually find this place dragging you down for wanting and trying to do better.
Horrors meaning....
~ Taking months and months to find a mediocre candidate and that's only after battling with the offshore managers who want to downgrade the roles or choose the people they want even if they are supposed to be fully allocated to the US manager
~ Waiting for 60-90 days for the offshore person to even start and then they have less than 3 hours of crossover time with US resources to train
~ After they start, finding out most of their background wasn't theirs but everything they did was part of a team (meaning someone else actually did the work and they told the story about it during the interview) so your Senior Lead level offshore MIGHT be skilled at the same level as an Senior level in the US
~ Spending hours and hours of extra time with them (beyond what is needed for US skill levels) and documenting step by step to an excruciating level of detail their job duties, only to have them make so many mistakes someone in the US has to end up doing it all over again
~ Watching them get rated well at year end because the US manager adds their review but really has no say in their bonus or rating
You mean.... like that???
How many times do we have to tell you? Quality improvement is NOT Wells Fargo's goal, cost cutting is the only goal of Wells Fargo.
Truly awful
Don't really need to ask other companies about the horrors of offshoring. We all have a front row seat already.