10-15 years ago, there were no on-site Pune people. Now, there are many.
10-15 years ago, Poland did not exist. Now, they are a growing component.
All the layoffs, closings, rebranding, execs quitting/"retiring", and ESPECIALLY the Pune (and Poland) outsourcing has one wondering if BNY is about to be taken over by another bank/firm and/or Pune will be the leading hub.
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@1uis I don’t think what they are learning in univ. has anything to do with it. There’s plenty of business/ accounting/ finance majors still. It’s all about cost. Bny doesn’t want to pay what US employees are worth. There have been a lot of big errors caused by the offshore teams recently because they are too new and require too much hand holding from US employees. The company keeps trying to implement more layers to safeguard after each error, but don’t explain to anyone what changed. Just the blind leading the blind at BNY. Until there is a huge issue nothing will change and if that huge issue is still cheaper than US employees then still nothing will change except more stupid layers.
Has anyone noticed the common failures in numerous industries due to software? Wonder why? Outsourcing to third world countries and DEI policies?
It’s time to recognize that our best resources are in Pune and Poland. They’re both better educated and harder working than U.S. hires. It’s incredibly sad.
Remember when we weren’t allowed to have more than 30% of the work in India (due to contingency reasons)? Seems it’s reversed now and no more than 30% can be in the US
Pune and Poland are in growth mode and this is a long term trend. With U.S. college graduates failing to learn enough to step into the work force with credible skill sets it’s not sustainable.
Who didn’t see this coming with the fluff degrees?
This is total B.S. and nothing like this ever happened.
I think 15 years ago there was PNC operating in Poland bought by BNYM. Same thing here we are also replacing below grades, having rec save from time to time, a lot of work per person, almost no warning and one day you get extra work of colleague who was fired in US, often no extra staff to cover that or not enough and usually additional tasks or checks which were not done in US or IRL. The salary isnt competitive ( F or G can forget about national average as it used be). They rise wages each tear by 4-5 percent which was 1/3 of the market in recent years. local people does not apply often to open positions so they basically hire unexperienced employees students from Africa or Asia ( currently half of the floor in Wroclaw). Anyway we are growth location so it is not that painful as in higher cost locations.
Yes. The overt racism towards white males via DEI. Program at this bank is sickening
Invariably it comes down to skin color with our usual racists. Im so sick of having the moderators clean up again and again.
Let the world see how racism is alive and well at BMYM. Someone else can pick up the baton and report it from now on.
Incorrect. Outsourcing can be done in the USA or anywhere in the world. IBM outsourced for 50 years in the U.S. before they began to outsource to England and later India.
Fait enough, but any label you use, it is still not good for US employees.
The people outside the US are not outsourced. They're offshored but not outsource. They are employees of BNY or one of its subsidiaries.
I do agree on one thing- there are so many Indian people working in America now when once there were none. It feels like outsourcing and "insourcing." Just saying.