https://www.linkedin.com/posts/bny-mellon_bnymellon-india-chennai-activity-7161191983942692865-tx4K/
12 replies (most recent on top)
BNY will never give up their NY presence, if only so the peacocks have a place to peacock.
Just keep voting for offshoring. How is it working for you?
@3giz, ignorant is not knowing the difference between "worse" and "worst".
@fgu+1r0IPCuh - yeah, go vote for trump - you're an ignorant trumpster - worse job destroyer in history.
Putting aside my feelings towards everything how is it “diverse” if you group together a large majority of people of the similar culture in the same location? You are making US employees go to make your footprint bigger in India, adding to the count of employees you already had in India. How is that diverse?
I’m glad I left in 2023 to go to a tech company. I almost went to McKinsey and glad I dodged that bullet.
Ever since the Kerry/Kennedy law opened up H1B Visas and more it’s been over for American workers. The sad thing is that most bank employees vote Democrat and don’t even understand how badly they have sc--wed themselves.
I had basically a cost accounting type of job (thank god I joined a better company) and I was able to see client service models projecting a lot more work done in India over the next 3 years. This was two years ago so we are easily in that time now. Even functions that didn’t have a presence in India like Tax Services and Client Services will start to move to India. There used to be a cap on this stuff but I imagine it’s been expanded.
They are desperate to win new clients but can’t charge the right fees so they need to force cost savings within a 5 year timeframe.
I too saw the post on LinkedIn so if it wasn’t clear back then, it’s obvious now. Have fun cutting a major client’s fees for 6 months because they’re not happy about the NAV error your understaffed teams caused.
Try 80% of US work is moving to India. Every year for the past few years we are asked to move at least 3 FTE to India. Soon there will be no remote workers in the states if you don’t live near the FL and PA office you will be terminated. Their goal is to have only 2 buildings one in florida and other in PA. Between all my departments I will be losing between 65-75 FTEs this year
I'm sure they'll continue to move IT offshore but they've already done quite a bit. The giant su-king sound now (for those who remember Ross Perot) is them moving operation jobs over there to do the needful.
More likely US technology jobs moving to India on the cheap. H-1B1s can finally return home permanently after years of training abroad.
Likely technology jobs that can’t be done in the U.S.
Let's dump a bunch of money into leases so everyone has a cubical to sit in to call people on the other side of the world.