Thread regarding MasterCard Inc. layoffs

Job Elimination at Master Card

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: @OP+AAUcl8T

4 replies (most recent on top)

I could not have said it better myself!

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Post ID: @4Jlzl+AAUcl8T

The Indian contractors are housed in the apartment complex just down the road from campus. All on the company dime.

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Post ID: @1FmG+AAUcl8T

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