Months over month, us-based employee count is down 100 and India offshore contractors are up 400
India has 44 openings now in workday.
But I seen your leadership tells you that they are not offshoring. Fu--ing liars.
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@gn I mean, you're not wrong but the Big 4 banks have been operating multiple GCC sites in India for years and they have no plans on slowing down GCC growth due to the reported issues/concerns. Quite the opposite. Reuters reported expansion, specifically in India, to higher-value functions like finance, software development, and R&D, not just low-cost back-office, operations work. And USB has to do everything the Big 4 does of course, regardless of the significant gap in asset size.
Last time I skimmed the branded "U.S. Bancorp India" website and clicked on Explore Jobs, available roles in Chennai spanned Technology & Digital, Operations, Corporate Functions & Risk, Audit, IT Risk, Mortgage Operations, Corporate Payables, and Product/Design.
They're just getting started.
Mass hiring at scale in offshore markets does not yield elite engineering talent. India produces roughly 1.5 million engineering graduates annually, but studies from industry analysts, including a widely cited McKinsey report (the irony??), found that only 25% of Indian engineering graduates are considered employable by multinational standards without significant additional training. For a large financial institution requiring engineers who understand complex, legacy financial systems, regulatory constraints, and high-availability architecture, the realistic hiring pool narrows considerably. Bulk hiring under cost-cutting pressure compounds this, organizations default toward quantity over quality, producing exactly the C-tier engineering workforce concern raised here.
Teams that have previously worked with India-based engineers, product managers, and UX talent have absorbed the friction quietly and locally. The difference now is scale. What were isolated incidents become systemic patterns. What were manageable team-level slowdowns become enterprise-wide delays. And critically, employees and customers who were previously insulated from these dynamics will now experience them firsthand, creating a reputational and morale problem that compounds the operational one.
Offshoring at this scale, under this level of scrutiny, in a domain this regulated and complex, has a poor historical track record even under favorable conditions. The data on talent quality, code defect rates, communication failure, and distributed team performance all point in the same direction and this time, there's nowhere to hide when it goes wrong.
I guess someone isn’t caught up on their McKinsey data anymore ;)
It was said in the Town hall that the bank already has 11,000 employees in India and that they are in the process of building a large complex there.
A Head of India HR was recently hired. That is a clear sign USB plans on hiring a significant number of employees in India.
@af That was the excuse given by GK & the MC in the most recent Town Hall. They really do think we're d-mb as he-l.
@a3 I've had people have the audacity to tell me that the intention is not to move jobs to India but instead to convert our contractors in India to FTEs.
I have no doubts that this is the plan for some. But these contracting agencies aren't going to let us just swipe their income out from underneath them. There have already been bitter battles over talent they won't let go. They will 100% get rid of a few thousand employees in the states to hire engineers in India for pennies on the dollar and not have to pay for benefits.
We already know, they've been axing US employees to send their jobs to Poland and are currently building two new centers in India.
RED WHITE AND BLUE U.S. BANK WOO HOO