I heard that ShangHai office (mainly tech) suddenly announced that they will start laying people off from next month, impacting both contracting and permanent employees, with immediate effect. Quite shocking really. Does anyone know more details about this? Is this trade war related?
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So what’s going on with china, citi going to cut them out or what? It’s almost June
Stop the narrative that hardworking employees need to do the work of two people and sacrifice their evenings/weekends. Give the company more for free and they will value you? Newsflash there is no longer company loyalty. Jobs are not held for life, so don't be a fool.
I do feel this is coming as well. Been asked to ensure that my team's in regions outside of China are fully up to speed.
Wanna respond to the OP here, yes, it's true. This time, at least a hundred FTE were laid off.
To Post ID: @cm+1jv9n5k53.
Let's not be toxic. Honestly, no matter the country, people working at Citi China, Citi India, and Citi Singapore, etc., just want to earn a living. They're trying to support their families, provide a better life, and hope for a brighter future.
you would be surprised how much the china development team has access to.
China = counterfeiting, stolen patents, hacking, cyber espionage. So sure, why not welcome them with open arms into our financial systems. Give them the keys to all the doors. Let them develop code, I’m sure any backdoors, root kits and trojans after the fact is all just coincidental.
Do not generalize all american workers as low productivity. I know a few that works the job of two people and tends to work long hours and even weekends. It is an insult to generalize such hard workers as low productivity and generalize oversea workers as the best productivity workers. I am sure China or other regions have their own low productivity workers too. The higher salary is scaled to the cost of living. In NYC, you can easily spend 30 dollars a day for commuting and eating lunch outside going into office.
Refilling metrocard for one ride is 2.90 dollars and if you take the New Jersey path train, that is another 2.90. That is one way just going into office. Get 10-15 dollar lunch outside the office and anther 5.80 dollars to commute back home.
China gets paid on scale to their cost of living. Same as the scale of Texas. The salary for a developer there is cheaper than NYC since the cost of living in Texas is lower.
Transfer the position to the United States? You can see how many people in the American office are working seriously; their productivity is much lower than that of third-world countries, and the cost is very high!
I do believe it is trade war related, or otherwise, a wake up call for many companies to not be so reliant on Chinese workers. Diversify, move to other APAC countries or bring the jobs to the USA. I