The fallout from the financial crisis, Countrywide and Brian's lack of leadership is the reason BOA is sinking. Can we get back to the topic at hand? Anyone heard anything about May layoffs?
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That's right, Countrywide was a long time ago and is not what is causing all those laid-off Indians to become telemarketers!
We'd still be in this mess regardless of Countrywide, poor management and bad decisions for the last 8 read it 8 since before transition started, and don't let the Merrill folks off the hook either, every group played a part
BofA needs to keep the Indians employed doing something that may, at least, potentially be productive, otherwise they're going to fall back to being those annoying Indian telemarketers that just keep calling!
We wouldn't be in this mess if it wasn't for Countrywide.
Hashtag #H1B thrives on Indian bashing. There are 1000s of posts on the topic, all kinds of companies, very little BAC there
So, in summary, sorry to the poster, Indian bashing will continue. Don't like it, go back.
I heard 5/10 for this month
Ah yes, the feds made them buy CountryWide, but no one made them integrate the technology. Who cut that deal? Someone dazzled by shiny objects? Quite an expensive disaster that was, and we are still suffering the fall out.
I'm not bashing Indians.. they are doing what all our ancestors did. I don't expect them to turn down a job. But this is a race to the bottom. There are Americans capable of doing the work, they are being replaced. Someone will always do it cheaper. I'm tired of hearing that it's all about visas needed because of the inability to find "trained people" - that is BS, and we all know it. It's about finding people who will work for low pay. The downward spiral hurts all of us. The 1% win. Eventually there will be no one left who can afford the services.. and then collapse.
We are all feeling the stress from a decided lack of leadership, let's not take it out on each other. Yes many Americans are upset about visas, but getting what's perceived as a good thing for a good price is just good economics. We are all worried about our jobs, let's at least remember to do the right thing even if the company cannot
If you look at man hour rates, onshore Infosys/Tata are no longer that much cheaper per hour - you could hire an American fresh out of college, junior programmer, train him/her, keep him and his knowledge at the company... like an apprentice. That's how it was done in the old days.
When I supported tech (~8 years ago) there was a huge push to offshore and nearshore. Because it was the latest trend. We did so because it was so much cheaper - 50k recovery rates instead of 180k recovery rates. Even though we had to hire at a 2 for 1 rate it still was cheaper. The CTO didnt want to but it was a firm initiative. So, I would agree that this isn't a situation where we are hiring the same caliber people. The Bank's expectation of what people do is pretty low and they are fine with it because they don't want to pay what it takes to hire bright, over achievers.
The financial crisis was almost 9 years ago! There are many factors involved here - 8 years of stagnation under B O and the Dems, Dodd Frank, and excessive money printing by the Fed that's left the economy in the doldrums. This diversity group, the Indians, is benefiting ahead of everyone else for some strange reason!
Actually, no. Put the shoe on the other foot, kind of impossible, but do try. Impossible because India is a hell hole and noone in their right mind including Indians want to live there. This country was fought for paid for with the blood of my ancestors and others. Why the hell should we bend over and let Indians indulge in that when generational Americans are thrown out of work and their livelihood in the process? To put it bluntly, screw you.
Oh Yes very good we get your jobs at 20% of salary
I agree. It's distasteful to blame others for management's decisions and lack of leadership. I'm surprised that anyone would be caught off guard by these layoffs. BOA has been laying off since November, 2012. If you think your job is safe you're living in the clouds.
Just manage your living expenses, plan accordingly and move on.
I agree. The Indian bashing is obnoxious.