Thread regarding Voya Financial Inc. layoffs

Outsourced American employees to Indian company Genpact

Voya wants to be America's Retirement company, yet they outsourced IT and now Financial departments to Genpact in India. And the Voya employees had to train their replacements. These were not employees that were not skilled or educated workers. They were seasoned employees who knew their jobs. The replacements from India have language barriers, and do not understand American Financials. But the bottom line is to save the shareholders money at all costs.

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Post ID: @OP+FjaXret

9 replies (most recent on top)

Voya at it again. About 25% of IT is being laid off after training India personnel. Another 30% being forced to work with Cognizant for less money and losing current severance and will end up doing more training before let go. So sad.

Something needs to be done about HB1 visas and company greed.

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Post ID: @9Hace+FjaXret

Voya is doing it again, layoffs and jobs rebadged announced Aug 01 2017 to be implemented Aug 28 2017.

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Post ID: @9hloe+FjaXret

Recognized by Ethisphere as one of the world's most ethical companies. Code of conduct states: We seek to retain and develop highly qualified, diverse and dedicated individuals for our workforce. Yet many layoffs and no attempt to "retain" anyone.

This article from Wharton University states "Firms that are laying off are almost by definition in trouble." http://knowledge.wharton.upenn.edu/article/how-layoffs-cost-companies/

Here is another article stating layoffs do not save money http://chiefexecutive.net/employee-layoffs-may-cost-more-money-than-they-save/

This company tries to portray itself as about community and helping people, but there is nothing but coldness and ruthlessness in forcing older employees who do not have enough years to reinvent themselves into retirement. Congratulations Voya! You have become America's Retirement Company.

#Voya

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Post ID: @8yijj+FjaXret

They just laidoff 25 people on Thursday 4-13-17.

it amazes me how good they are at keeping the layoffs and outsourcing to India and Manila quiet.

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Post ID: @7vtgt+FjaXret

Voya practices age discrimination when it comes to layoffs. the longer you are there the more likely you are to get laid off and replaced with a younger person.

this place is a house full of card and Rod Martin is playing with the numbers.

why hasn't the SEC or FBI looked into this company?

well one reason is he and his minions are huge donors to Democrats.

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Post ID: @7vdpk+FjaXret

It is accurate unfortunately. We have clients with Voya for their retirement plans and have had to field these complaints regarding the website and answer questions about the participant site as well as the clients not being able to process their contributions. It was not good.

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Post ID: @6Khqz+FjaXret

I've an active 401k account with my employer which is administered by Voya.

For the past week, their website is "broke" -- unable to provide updated account values. The Voya rep I spoke with has no ETA when (if) this will be fixed, refuses to put me in contact with anyone that does..

Hey, Voya, the whole point of a website is to provde 24/7 service, not 'sporadic, occasional' service.

Maybe the offshored employees have absconded with my dough?

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Post ID: @6tcyw+FjaXret

Is this accurate? Can someone confirm?

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Post ID: @3Jnob+FjaXret

hadn't heard this. What location/functions?

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Post ID: @Gwdg+FjaXret

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