We all know the cost of doing business is a lot cheaper when it's done overseas, and with a company like Chase who continues to improve their quarterly profit by reducing overhead, expect it to get progressively worse state side. These layoffs are only the tip of the iceberg.
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Ok so now they are going to South America and Poland....why are these banks, built on the backs of Americans, with the majority of services sold to Americans, with Americans funding the Branch balances and paying ATM fees, are not mandated to have specific staff % in the States.
Some of the outsourcing to Manilla are for jobs that have always been done in the US. Chase is laying off current employees that have been with Chase for many, many, years. This doesn't seem right.
JPMorgan is a global company that is growing and is one of the best run companies in the world. That is a fact from both a stateside and overseas operation point of view. The comments posted here make it seem like JPMorgan is Toys R Us and the future is hopeless. It’s downright silly. Layoffs are never an easy thing to handle for anyone. Be proactive and don’t wait around to get laid off. Look for opportunity. There are plenty available and don’t let the people with a victims mentality drag you down. We are better off without the those who proclaim we are steering into an iceberg.
If Manila can speak proper English and output the same quality of work compared to reps working at sites such as Plano BK dept, then I don’t see anything wrong w outsourcing of jobs.