Thread regarding U.S. Bank layoffs

They would outsource 100% of the jobs if they could. It’s how we roll in the US.

It should have been obvious the moment they hired a British banker to run American banking operations he was hired to fire Americans and hire Indians. Everyone will hate him and he will leave the firm after 3 years, just like the last COO who left after 3 years.

He's hired and paid to be the scapegoat, and will simply retire in a foreign country far away from the US and the people he stabbed in the back (as planned).

@fk But if they went with that approach they would have to actually have a plan to increase the first term in the following equation instead of just running min() on the second term of the equation:

[Revenue] - [Expense] = [Profit]

They aren't smart enough to optimize the first term. That's an IQ level way beyond their capability.

@fe I think we all wish they'd just shell out for the talent in the US and not ship our jobs to India for pennies.

@f7 well yeah, it may be just a cosmetic change which will not change much. However, them becoming regular employees seem like a promotion for a much stable job - and such stability may also mean more work delegated to India, which could end up with layoffs

OP the 10,000 offshored employees you mentioned are already offshored. The plan is to hire them as bank employees instead of paying them as contractors. It's not movement of a new 10,000 employees who are currently based in the US to India.

@e6, leave us rednecks out of it. We may talk with an accent, but we're not heartless aholes that worship money more than our fellow man.

All the English senior/executives seem to enjoy being cucked. Their own country is invaded by Indians and arabs, and they are doing the same here.

@e5 Toby is British? Looks like a re----k from the south. Maybe he should go work in India.

@dh Toby Clements

This bank desperately needs a rename to India Bank.

@ax who is "he"???

This is like the d-mbest comment I heard. What is said is that the. Am has 10thousand contractors already in India and they want to convert them to employees in India. Realistic? - No. The Wipro and TCS of the world are smarter than our Technology and Operations Heads

Stop training your replacements

What call? My team recently moved to operations (last month) and there was no invite. We received an invite to a call next month. Hmmm

@b0 you’re right on the money with each of your assessments

I send a plague upon him and the entire MC. May they get what is coming to them.

US Bank penny pinches because they are up to their necks in lawsuits. They will even deny veterans their financial benefits per SCRA protections. US Bank is the sc-m of the earth, they belong in India.

https://lawfold.com/us-bank-class-action-lawsuit/

@az *for now

There will not be in 18+ months.

Dude probably has a 7 figure bonus for hitting an offshoring target, no surprise he's excited.

People should stop wasting time focused on executives, who are just pawns doing the dirty work for the board of directors.

Any serious resistance should be looking at the board, and cancelling any accounts with this rapacious corporation.

Taking advantage of a customer demographic based in the us but turning your back on the us to hire Indians is disgusting, but none of them care about the well-being of the company or the country long term. It's all short term for profit thinking for them. Any serious government would have put laws in place to prevent offshoring 40 years ago but instead they elected to get rich by sending manufacturing overseas. Only now are we realizing that's a national security risk and trying to bring it back. Which is exactly what will happen with everything being offshored now.

Oh but you need to be commuting to the office tho if you're based in the US!!

Clown world

@a3 "no Americans"? We have thousands of domestic call center agents.

@at Wherever they can maximize savings.

Is he Bristish? I heard the accent and figured he was British or Irish

I guess British guy don’t care about American workers,

He was so excited to announce 10000 jobs moving to India nd he expected us to be excited about us losing our jobs. lol

These guys are out of tune

Will they offshore jobs only from US, or is it also gonna affect the folks in Europe?

What do Brits care about American workers?

I've heard the CAO twice talk about his and his team's excitement at building out the GCC in India on a call with thousands of people who might have their jobs cut due to his efforts. He was really jazzed about it. I'll bet those RSUs will really pay off for him.

Wonder which bank customers will applaud that preference to move operations to India, Poland and the Philipines, particularly if there are no rate or cost concessions to the bank customer.

They want us to cheer and get motivated by the elimination of our jobs.

But no Americans want to work 8 hour callcenter jobs.
We have 3 choices: AI, outsource to Indians, or outsource to Africans.

Those 10,000 employees should get rid of any all bank products they have.