A commenter alluded to it in a post: while we fussed over RTO rumors the bank is finalizing the details to hire 5000 FTEs in India. Remember this is a place that kept wages flat and laid off people ruthlessly for "operational efficiency" but has no problem committing to sending thousands of jobs out of the country.
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@eh But it's not a RIF process. The bank's headcount will be higher, but with less Americans. And so what if other banks or doing it. They want American customers and their money but don't want to hire them when they can exploit workers in India willing to put in 12 hour days for a quarter of the pay. If anything, outsourcing service jobs should be illegal before conditions look like blue collar jobs post NAFTA.
U.S. Bank's Management Committee (MC) logic is straightforward and cost-effective for RIF processes.
H1-B visa employee: Wait until their H1-B visa expires, which is typically three years from the day they joined U.S.Bank, and provide a advance 90-day notice period of no visa renewal. This is technically not termination and avoids costs associated with severance and labor department fees.
For non-H1-B visa holders, we know the process is consistent with other banks and corporations, and U.S. Bank follows the same protocol.
If the bank were honest, it would change its name to "India Bank". The CEO really likes to hire her countrymen.
https://realty.economictimes.indiatimes.com/amp/news/commercial/us-bancorp-set-to-establish-major-global-capability-center-in-chennai/129645548
650,000 sq/ft in Chennai to start. Yeah, not worried about RTO hour tracking since my job is going to the USBank of India.
Global Capability ? my foot its called : Profit making ( pay 25% wage for Indian workers vs. USA) - Just like other banks have done (and are doing). Its called COST Savings not Global capability (24/7/365 - may be!)
Even the contractors in the US are saying it’s taking months to find a hybrid job. What can we do besides complain? Sure, it’s a bad situation and a lousy company, but until a better job comes up I am stuck. I will continue to work hard, because that’s the way I am. If someone comes up with a brilliant idea to change things let me know. I am always looking for another job, I don’t complain at home, I prepare for a possible layoff and I enjoy my time off.
I don't understand the hyperfocus on going to the office for the time you're paid for when the bank is openly telling us that our onshore colleagues' days are numbered. The reasons they gave us for RTO are nonsense but gutting TOS, I assume, for people who can't even open an account is a much bigger concern. I agree with OP.
Also, Oracle is laying off their employees, including many in India, because they overextended themselves on data centers and buying media companies. That's not what USB is doing.
30,000 were laid off at Oracle Tuesday. The job market stinks. We can complain all we want about RTO but nothing is going to change for USB or many other financial institutions that are mandating and micromanaging RTO. I am not going to stress about it anymore. As much as I hate it, they have us by the b&&lls especially if you’re in IT. I am guessing the job market will open up at some point, but not in the foreseeable future.