U.S. Bank is quite a trojan horse of a name for a company outsourcing everyone and their mom to India (if other posts I see are true about that)
That's like Swiss Bank being run heavily by South Korea.
I don't mean to invade y'alls board as I am at another financial institution, but am going through the same. I think we need to put "tariffs" on outsourced remote workers as we do with other things or this trend will continue.
They are just cleaning up the old house to put it on the market, so many of the ill advised plans and initiatives have failed so miserably that there really isn't much other choice at this stage of the process. The savings and efficiencies of the much balleyhooed data centers never happened, the savings and efficiencies with Union Bank never happened and the bill is coming due for that charade, the business lines are not performing as capable given the ill advised displacement of the operations of those critical business line operation functions to Europe and Asia, BNPL, branding everything U.S. Bank and too many visits to the CFPB and yes, it's the ugliest house in the neighborhood, the grass needs mowing, the style is way out of date and while the for sale sign isn't in the front yard, it will be.
Of the top 5 banks, US Bank is years behind other banks that have outsourced for years. Tech has been ramping up outsourcing but is still way behind its competition. So do you buy a ford that has 80% of its pats made offshore?
OP, US Bank has always outsourced jobs for so long. Why are you so outraged about it now? Is it because your buddies are now losing their jobs or that you are in danger of losing yours?
I guess you were ok with it when it didn’t hit close to home.
The U.S. Bank $20/hour minimum was largely smoke and mirrors. For instance, it doesn't apply to contractors, only full time hourly workers. Last I heard there are still contractors making less than $20/hr. It would be illuminating to see some numbers on how many hourly workers ACTUALLY saw a pay increase from this development.
Just another McKinsey strategy to make it appear like they are committed to their workers when in fact they changed almost nothing.
"I think we need to put "tariffs" on outsourced remote workers as we do with other things or this trend will continue."
It's not a bad idea, one of many ways the government of a serious nation could protect its workforce. The problem here is that this is no longer a serious nation, and while this may be entirely about maximizing profit for the corporations, for the government allowing it to happen It's actually about destroying the middle class natives, not money.
Broaden your perspective from "corporate greed" to "hostile government" and everything you see will become crystal clear.
@1ajn+1v9ybIOQ you say the above but who do you think will ultimately foot the bill for these tariffs? It will be the customer and once that happens any sane customer will walk away to our competitors. To quote you this is how it works whether it is "corporate" or "government". Don't fall for lies and baits from con artists posing as your well-wisher.
Wasn't that long ago the press releases championed the new employee rate of $20 and hour for the hourly workers that keep the bank' operations up and running. However, through a number of poor executive level decisions, i.e. Union Bank, BuyNowPayLater, regular visits to the CFPB, the bank could not grow revenue as fast as the other banks and could not support the $20 and hour celebration, so they started moving those functions to lower employee cost countries like Poland, India, the Philipines to create numbers for investors they could not otherwise achieve without abandoning their operational talent.
Leadership is a valuable commodity, none of which you will find at the executive level of USBank anymore.
"I think we need to put "tariffs" on outsourced remote workers as we do with other things or this trend will continue."
It's not a bad idea, one of many ways the government of a serious nation could protect its workforce. The problem here is that this is no longer a serious nation, and while this may be entirely about maximizing profit for the corporations, for the government allowing it to happen It's actually about destroying the middle class natives, not money.
Broaden your perspective from "corporate greed" to "hostile government" and everything you see will become crystal clear.
The irony of the initials U.S, in a corporate name when hundreds of jobs are being moved to India ( pretty sure where our newest president came from) is lost on everyone.
Tone deaf corporate greedy SVP’s