With the new requirement that employees in India should have local manager more become managers in India without deserving it, just because they are in the right place right time and US managers/employees are being laid off. Even more, senior management brings employees from India, sponsors green card for them and make them managers because they are younger and then moves US workers who trained and mentor them to report to them now. How long can it last? I wonder that no one takes legal actions
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5vvy...because it isn’t a simplistic problem and would inda like to see us all succeed...
And a large portion Of the savings are offset by the exorbitant salaries of the top tier executives & our CEO upon their departure.
Tax breaks currently being given in cities such as Pittsburgh should no longer be valid as more jobs leave Pittsburgh for these “low-cost “locations. The dump should pay their fair share of taxes
Why do you make it so complex. This so called Global Bank just wants to cut costs. They do that through moving work from a higher cost location to a low cost location (and refer to it with the word growth: growth center, growth location etc.). Competence is not really relevant, maybe a bit. All that really counts is FTE and cost. They hire a bit more FTE and think there are fine. This strategy is ongoing for over 10 years now. Soon expertise will be irrelevant too, that process has started over the last years. I see more and more experienced people getting laid off. The results will and are showing this and there's no way this can be stopped unless the strategy changes. Don't make it personal, the people in the growth locations cannot change that, saying they are not delivering anything is not right and it's disrespectful. And if it is the case maybe and just maybe they also have the impact from the lack of knowledge and training...
A "Global bank" should not be allocating resources based upon a series of legacy missteps. They should allocate globally based upon specialization due to competitive advantage. Outward facing staff should be allocated based upon client presence requirements.
This would indicate strategic and software development technology in the U.S., absolutely not India or Britain. Operations in Poland, script based operations and script based tech support in India, etc... Consideration should absolutely be given to moving technology to Ireland, Poland and Israel as those are the only 3 stable regions which possess tech talent equivalent to the U.S. and in the case of cyber security far greater talent than the U.S.
What happened to the concept of a "Global bank"? Have clients across across Europe, Middle-east, APAC zones somehow taken something away from the US? People across the globe read your comments and may deduce the BNYM US colleagues are discriminatory towards others. If this bank was operating only onshore in the US, then we could expect a US-only resource pool, albeit a smaller pool than what we have today.
Layoffs have impacted all areas. People in Europe are laid off. In India there are layoffs. APAC had layoffs. We all go out the door feeling the same pain. Show some camaraderie please.
Be prepared in Markets Ops for “off shoring “ activity this year. Revenues missed in 2019 so they need to show improvement and expenses are all they can control.
Hire developers and dev managers in India but keep higher level positions and recruit more BAs here in NY to grow the business. If it goes other way then it big FAIL
USA has the famous FANG companies while India has the infamous WITCH companies - Wipro, Infosys, Tata, Cognizant, and HCL. Yet BNYM keeps hiring from these firms and suffering in the long run.
Lets be clear. Its not only on-shoring and off-shoring of jobs to a specific country, It is to multiple countries. It is impacting jobs beyond technology. Such as accounting, business analysis, legal, medical ........
Off and onshoring to India is the worst thing to happen to the IT industry in the U.S. PERIOD. It k–led off a once tremendous career path. Before on and offshoring to India and elsewhere, the IT and Tech industries were great places to work. Now, forget it.
Once these ops jobs leave the USA - it is gone for good. You can see the impact in major cities. Very unfortunate, for there were many fine skilled colleagues that are already gone including me. Move forward and all the best! There is a brighter future elsewhere.
I have only rarely seen quality work from India. Tried simplifying goals, lessening deliverables, lengthening time frame and adding more QA resources. I’ve seen 2 superstars from India but that is out of well over a thousand across 17 years of Cognizant, Wipro, Infosys and iNautix. This model is really just not working.
Write your local senator. Tell them about offshoring and work visas. Make it a voting issue. If not, then just take your lay-off and shut up. Go to next place and have it happen again.
The amount of time I spent fixing fscked up work from an offshore resource far outweighs any value the company got on paper from paying them pennies on the dollar. You get what you pay for and it shows in the shoddy quality of the information systems at BNY.
Resources in India are knowledgeable, have great tech skills, work harder and longer and add more value vs. the cost. You cannot find other people who bring this. Simple!
My question is how are they able to issue work visas?? Reason I am asking is that from a legal perspective, you have to prove that there are no Americans who can do the job hence why they are going for someone outside of the US. Surely the people they laid off can most def do the jobs so what loophole are they using? Also, love to see the breakdown from the job reports where they claim employment has gone up - are those jobs employed by Americans vs other nationalities or just a blanket statement to fluff up the report.
Keep senior level positions like MD, Exec MD in USA with high business knowledge. Don’t hire or move these positions to India bce who ever hired for these roles from India they are not technical and also they don’t have business knowledge.
I dont follow the reasoning here. In India, for decades the law has been that Indian staff have to be managed by Indian people. This has to do with the horrific state of colonialism from which they suffered. There is no "new" law in this respect. So, I dont follow how "more managers" will be required in India?
Some senior level positions also moved to India and they don’t have any idea about the US Business and they want to remove all the Business Analysts from US. They can keep and hire more developers in India that makes sense but firing BAs from US doesn’t make sense.
With all the offshoring why the hell does US still issue work visas. Very simple, to flood labor market and keep wages down.