The building where I work is mostly infosys and tata contractors on H1B. FTE are a tiny tiny minority - like we stick out in a sea of India. I don't blame the contractors, they are just trying to make a living, and getting screwed - I can't live 5 adults in an apartment, but according to the census, my ancestors once did. I'm not sure how BofA gets away with it. There was quite an uproar over Disney doing this. Don't they have to prove that there are no qualified citizens/green card holders? How can you have people train replacements, lay off , and then say no one is qualified? Back in the day we were told that these contractors were just there to absorb the ebb and flow of need - if the work shrank, the contractors would be let go. They were always let go first. You never laid off an FTE, and kept a contractor.
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Where these guys from Infosys and TCS really excel is in the CYA area ie "Cover Your A$S"! They pursue every irrelevant issue to the max. Maybe if they could comprehend the bigger picture they could help the project by doing their jobs intelligently and assist in a meaningful way, instead of safely just hindering progress and retreating to the comfort of their regular routine.
Better educated, really? Most of them go through a crash course(s) in programming once they join Infosys, TCS, etc. They are certainly not better educated or more capable than local resources we have available. They are cheaper and easier to hire/fire than an employee. That's it. Along with whatever other "incentives" the offshore companies are offering management.
They are cheaper but how do you define "Better Educated"? How can anyone say these people are "better educated" without any way of measuring this and backing it up? That has been the biggest joke for a long time, that India has better software people than other countries!
The folks coming over with the H1B visa's are better educated and are cheaper.. here to replace the aging tech workers and more...somebody has to do the work after the Bank lays off the older expensive U. S. workers....if the interest rates go up .. layoffs probably will ease..but who knows ..???
That's right! Diversity means they need more of those cheap Indians ...
Diversity is code for anything but US citizens. First they cleaned out the US white male (not board level of course) they'll get the US white women next, US people of color will get a turn as well. If there's 99% indian staff that's the ultimate in diversity.
They fee us the DIVERSITY BS! Create diverse teams...yes that was one of the goals I had on my PDP. Create diversity. Well, I created it alright and got let go-now the "diverse" folks are running my old LOB. Shish.
EXACTLY. I have hoped against hope for the last few years that our "leadership" team was just clueless, but nope, they know exactly what they are doing, and they are in it to get what they can, and then get out. 30 years with this company and to see what it has become is heartbreaking. I genuinely do not believe the bank will be here in 5 years.
Ah the good old days are gone forever. There is no such practice any more since it is all about the almighty short term dollar and for now those resources are cheaper. Moynihan doesn't care so none of his managers will either and that's what they are - managers, not leaders. There's not an original thought amongst them and any idiot can manage to the numbers, it's simple math but the long term will suffer. My advice is sell when the stock hits $19 again which it will this year (that simple math once again) because beyond the next year or 2, this model is not sustainable and if the regulators ever wake up and smell the coffee and do their job of actually regulating, BAC is headed for some serious consent orders. I was amazed to see regulators buy the crap they were selling in terms of controls and how they said they did stuff versus how it was actually done. Problem is that the regulators never do any actual digging, they just take some exec's word for it and that my friends is why we had a financial crisis in 2008 and why we will again.