#offshoring

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Stock in complete free fall, now I'm really worried for more future layoffs

I was hired last August, and my RSUs are basically nothing at this point. I'm really disappointed with how this company is run, how/who they're hiring. Most of all, I'm seeing more contractors and offshoring. This company needs to innovate, and I don't see that happening here. I'm done here, I'll start applying elsewhere. Good luck to you guys


Absolutely dreading going to work tomorrow

Tomorrow I’m logging into Gainwell, and honestly, I’m not happy before I even open my laptop. I’m just a regular worker, not some big-degree expert, just someone who learned by doing and is hanging on to this job because I have to and definitely not because the company makes me feel safe or valued. My boss is from Florida and she’s loaded - big house, fancy trips all the time, talking about “recharging” like the rest of us aren’t sitting here praying our name doesn’t end up on the next layoff list. When she says “we all have to tighten our belts,” I want to laugh, because if I get cut, I’m worrying about rent and food, and if she sc--ws up, she still has money stacked and options everywhere.

I see what’s going on in upper management. People are getting worked to the bone, jobs are being shipped off to cheaper places, and they slap the word “strategy” on it like that makes it smart instead of cruel. They sit in their meetings while people like me are burning out, stressed, and scared, wondering if today everything falls apart. Tomorrow I’ll still log in and do my job because I don’t have the luxury not to. My rich boss will be just fine no matter what happens at Gainwell. It’s people like me who get crushed when this place decides we’re just numbers on a spreadsheet.


Quiet Layoffs

Liberty has been offshoring and getting rid of entire departments quietly since they announced the “don’t go make a 10 year career plan here” back in Oct of 2023. They have cut the inbound subrogation department in half over the last 7-8 months using PIP plans and forcing a small handful of employees to make lateral moves to other depts. They’ve offshored all jobs cut to India. The company has been trying to keep things quiet with secrets everywhere. The Team Managers have been traveling all over the country for “quality training”. Constantly talking about focusing on quality which is just a smoke screen for putting people on PIPs for weak reasons to get out of paying severance and unemployment. They will cut the inbound subrogation department down to about 25-30 people state side and then might do an outright layoff of them because this whole department is being offshored to India while they try to continue to innovate with their AI. There are constant organizational changes being announced. This company’s “record profits” are coming from the selling off of foreign assets and not because of their premiums. There have been talks about customers being charged in full for policy period premiums and then having their policies cancelled a week or two later with no refunds given. The company is current being sued for undervaluing auto total loss and home owners claims (which they have been). They made changes to metrics at the start of the year to make them harder to meet when inventory is low, because they’re setting everyone up for failure. This company is going to lose insane amounts of money on those total loss and home owners laws suits. Why those running the company would risk PIP’ing so many employees, when they’re already involved in all these other lawsuits and can’t take the blow back or bad PR from those, let alone from the mess they’re making out of downsizing/offshoring jobs is definitely a unique choice to make. Will anyone really be surprised if there is another lawsuit soon from all the Swiss Cheese PIP layoffs? This company is a sinking ship and anyone working there should look for something else.


200 Jobs Lost To India

Bone crushing blow. Mutual of America is laying off over 200 employees over the next 15 months and shipping the jobs to India. A fleecing of America. An American company selling out. A giant suc-king sound. Morale is rock bottom. Mental Health counselors are on high alert. People are crushed. Devastated. Company can't find ways to raise revenue. Has to resort to cuts only. Accenture benefits. Mutual is now double paying: FIS ($8M) + Accenture ($~18M). Just think, the old system only only costs $8M per year. Now, they pay tripplethat


Transition to Accenture offshore workers

A certain guy who used to work for you guys ("RR") from what we understand brought about this firing of competent people (especially in Tech) and offshoring to Accenture. That is currently now happening at his next stop - T Rowe Price in Baltimore. A competent IT shop is being dismantled - Laid off, but to get severance you have to agree to train the people replacing you who have little if any experience, initiative, etc. Can anyone let us know how that went for you guys? Do you know if our guy "RR" left on his own or was forced out after this turned out to be a disaster? Thank you. Training is not going well, yet the keys are expected to be handed over soon.


Offshore is Scam! ITC doesn't want to hire experienced engineers who worked at WHQ even if they are willing to relocate.

15yrs experienced software developer from cognizant (offshore) who is working for Nike for last few years doesn't know what is github or doesn't know the meaning of commit / repository. I mean literally some resources don't know anything and i am not sure how many companies they are working at same time. They celebrate when they hear people who make them work get laid off. ITC leaders trying to build their own empire and they don't want to hire people who are talented and have worked for same company. RIP Nike Technology!


We knew it was bleak but doing the math make me even more sad...

Looking at the 146 jobs open today, only 18% are US based and 5 of those US based jobs are mariners and a pilot. We all know the reality, but seeing the actual numbers is pretty sad for a company that once prided itself on its US legacy/heritage.


EEOC Acting Chair Vows to Protect American Workers from Anti-American Bias

I am so glad to be done with Optum. It had it's kind people.... but then it had the people I had to deal with.

Vile humans that don't exist any place else. Ones I'm glad I never worked in person with.

Anyway, since I LOVE to stir the pot. I thought I'd just come around share newer EEOC guidance with you all. I see lots of people concerned about layoffs and offshoring.

Did you know... it's now easier to hold your employer accountable for nation of origin discrimination? That includes American workers.

Y'all should get together in do something about it. (In my Rick James voice)


AI isn't replacing anyone

It's already feeding on its own exhaust, and it's way too expensive. Hallucinations are the feature, not a bug. It's an excuse - to offshore, to cut headcount permanently (and dump the extra work on whoever's left), and to save face for leaders who are too embarrassed to admit they bought into the most obvious hype in history.


Major Workforce Shift Underway at T-Mobile

Employees report ongoing layoffs, aggressive cost-cutting measures, and a continued expansion of operations in India. Cybersecurity and operational teams have been among those affected, raising concerns about the future of U.S.-based roles.

According to discussions among employees, more work is being transferred overseas as the company focuses on reducing costs and consolidating operations. Many are questioning the long-term impact on workforce stability, service quality, and institutional knowledge.

The lack of transparency surrounding these changes has become a growing concern for employees across the organization.


I have a heart burn - with this offshore thing.. /

I am from India, but went through the University -> H-1B -> Citizenship route a while ago in Tech space. At that time, there was no fraud or offshoring, and very few select people got an H1B. I really appreciated the opportunity provided to me.

Now I am seeing all these young kids from the US are being short-changed with offshoring. Any US layoff or attrition is being filled offshore. That mandate is coming way, way above. If you don't provide opportunities for young kids, what will happen to the next generation? This is 100% wrong. I want to take someone fresh out of school and mentor them with what I've learned - but all goes offshore. Almost like seeing Manufacturing going offshore in the 80's and 90s.

I am not sure why nothing is being done... I feel like people here are more subservient and submissive than in other countries. (sorry)


More layoffs?

Is it true that we might have more layoffs this year or next? I heard that automatic robots are coming to the distribution centers and more jobs going to South America and India are still going down. A high hat in ops. heard it from one of the bosses in securety when he helped him with a violent person problem in his market and then told my boss. He said he told him he is asking for a bigger team . Is that for real or did my boss not understand it right? My boss is always right on what he hears. I’m stressing. Are any of you hearing the same?


Our team only backfills in Colombia

It’s all US managers with increasingly international teams. We have no “bench” if anyone in the US leaves, which is vital since those of us in the US are doing more complex work and in other countries it’s more backoffice tasks.

Theres no longterm strategy. We’re all in on the short term profits boosts. It’s gonna bite us longterm, but the executives making those decisions will cash out and be long gone by then.


GM Cuts Jobs While Hiring Overseas

General Motors initiated a new round of layoffs. The cuts affected 500 to 600 salaried IT employees. These layoffs primarily occurred in Michigan and Texas. GM stated this is part of transforming its IT organization. The company faces criticism for simultaneously recruiting foreign workers.

https://www.aol.com/lifestyle/gm-letting-workers-while-hiring-180036743.html


Why the relentless push to offshore jobs? Some answers...

https://www.xe.com/currencycharts/?from=USD&to=INR&view=5Y

The higher that goes on the chart on the right?

The cheaper indian labor is for a US corporation.

India in particular is experiencing currency collapse and this does NOT work in your favor.

Its over 30% cheaper to pay someone in india than it was 5 years ago. This means that you either need to be 30% more productive or bring in 30% more in revenue, else the bank is losing out on the labor triage (they are taking a loss by keeping you).

You can NEVER outrun currency devaluation - the differentials are just too great, the opportunity for cost savings are MASSIVE, and the executives are incentivized to make stock go up by ANY means.

Charlie chose specifically to be paid if the stock goes up.

"Show me the incentive, I will show you the outcome" -- C. Munger

If getting rid of 80000 employees means his options vest in the money? Its a no brainer what he will choose to do.

And there are zero US labor laws to stop him.

It also means that your career is dead at this bank - stop working so hard, stop worrying, re-skill into something that cannot so easily be off-shored and just wait for your severance package.


India strategy

We’re making a big bet on India and staffing down all over the world. But has anyone thought about what happens when our internationally unpopular president gets pi---d off at India and we no longer want to be each other’s friends? Seems like the company would be pretty sc--wed!


Offshoring and Visa Fraud

A lot of interest in offshoring and visa fraud. Would be great to get a YouTuber to do an expose on what Exxon is doing. They could visit some hotels near to campus in the morning and see the huge number of Indians in business trips to Houston and then also all the ones driving into campus who are expats to the US.