the target would be 70% Offshore (India) vs 30% local
This is what is wrong with both Bank of Montreal and most of other companies today. They have completely stop caring about the employees and the community they are in in favor of more, more, and even more money.
They don't realize that by doing this they are not only alienating their remaining employees but also a huge part f their customer base. This will come back to bite them in the behind, mark my words.
Banks have become unstable and unreliable employers. They are no longer worth pursuing.
yeah hcl got more than 70% of those jobs. they continued to lay off many IT people in 2019.
obviously the scare comment is from BMO management as they have become unaware of what is going on or just plain liars. They used to have a great management team, but within the last 5 years that has all changed for the worse. Why would employees be spreading the India outsourcing so called scare. It is going on, around 200 were just laid off in August 2018 on the same day at two of BMO sites . Mostly all with priceless experience that can never be replaced. As far as mortgages and investments, most of the employees I know used other financial institutions for their needs because of the slowness and errors (or because they were forced to by BMO) that they experienced at BMO branches, well the ones that haven't been closed yet.
well it did happen, whoever wrote reply one has no idea what just happened in August.
That's the same scare that employees were spreading around few years ago but it didn't happen. But what's happening & happened recently is that our mortgage rates are not competitive & as such not enough new loans were booked making people loose jobs to other banks within the US.