Thread regarding MasterCard Inc. layoffs

Layoffs have been on-going for some time

I heard 70+ in St. Louis and various positions in regions as of Feb 2015.

The firings are mainly over 40+, but they have been doing this with a 'stealth' strategy so not to draw attention. The Waterloo office is basically being dismantled and jobs going to London, and also to regions. As CEO is Indian he has been gradually aiming to send as many jobs there as possible and many senior posts in US are given to Indians. This is no US company, this is what you get folks for selling out!

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Post ID: @OP+A3usNVI

4 replies (most recent on top)

You are spot on! Winghaven's days are certainly numbered since there's a new "data center" in India.

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Post ID: @xSLI+A3usNVI

Amazing. The company calls it "job elimination" - as many as 500 jobs world-wide, as of recently, with half of these in the U.S. (pretty large cuts for a lean company like MasterCard) - when there is no true "job elimination". In a true job elimination scenario, the job being eliminated would be deemed unnecessary. Hence, eligible for elimination. However, what is observed by those whose jobs are eliminated, and those left working at MasterCard, is that the tasks and works performed by the eliminated employee - an employee often with 10 or even 20 years experience - are being picked-up by 3 to 5 Off-Shore resources. In other words, the motivation here seems more geared to laying off people and eliminating high salaries, than it is to "eliminating (unnecessary) jobs. Of course people who are laid off are offered fairly decent severance packages, and are told to sign papers indicating they will not sue or cause the company bad publicity, or face getting canned and receiving nothing. Those laid-off are strong-armed for their silence. You either take the pay and sign, or you get canned and get nothing. Difficult choice, eh?

The culture has changed greatly since Indian CEO Ajay Banga has taken over. Mr. Banga is fairly well-known for having gutted CitiCorp, and his Off-Shoring efforts there. In recent years, he has brought his methodology to MasterCard. The Org Chart at MasterCard used to show ALL personnel working at the company. in recent years, the Offshore-resources were removed. Why? Many speculate it is because the company does not want anyone to know the ratio of American workers to Off-Shore contractors, as the contractors likely outnumber employees. The company has numerous On-Shore, Off-Shore consultants - people who work in America, in MasterCard, side by side with employees, learning their jobs. The contractors working on-site "manage" the Off-Shore contractors back in India, and transfer knowledge as quickly as possible. If a high-paid American worker can be eliminated, all the better for the contracting company, as more Indians will be hired.

It's all about money, and return on investment at MasterCard. Honestly, the company is not truly even American anymore. Rather, it is - as Ajay Banga puts it - "global" in nature. Of course lots of American workers have Mr. Banga to thank losing their jobs, thanks to his "global" vision and Off-Shoring efforts.

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Post ID: @wGS0+A3usNVI

This place has become a sweatshop! We're all working scared!

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Post ID: @2ZeH+A3usNVI

Ha! This has been going on for sometime. It's shocking how many Indians are living in those apartments just down the road from us! All on the company dime. With all the cuts, people are still being promoted. That awesome revolving door in the lobby is spinning faster and faster!

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Post ID: @2v2u+A3usNVI

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