Wow the staff in the Quincy offices is at least 50% people from India.
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I was a managing director in Fund Admin in Boston up until this summer (I left voluntarily) and I can confirm that their plan is to move 85% of the US workforce to India by the end of 2019. Some groups are at 50% or more already. If your group is not at 85% now, more layoffs are coming and a good financial report in Q3 is irrelevant.
I left State Street almost 4 years ago. It was one of the best decisions I have ever made.
Press 1 to speak to an english speaking person, but the wait time is 2 hours.
Or press 2 and get a barely english speaking Indian worker in 2 minutes
Well another day another day working at State Street India for this U.S worker
Former employee of State Street. A colleague told me about a research project that was conducted in his graduate program where they hired someone from India. Point being made that this Indian worker failed badly at his duties/responsibilities. I found it very interesting that schools are also concerned about globalization and the displaced US worker being replaced by untrained foreign educated employees. Just another valid point about the sad situation of globalization at not only State Street but many organization in the US. This entire scenario needs to change.
I don’t see your point. Do you think SSC is doing this because they’re some nasty company? No. They’re doing this because they have to because all other asset managers are doing the same. Look at it this way, SSC having access to less costly labor may have saved your sorry a-- job.
@ost ID: @TPd1hhU-4wpy maybe if you guys were a little less racist
With a response like that, I can assume the following about you.
Your on Welfare, a Trust fund Liberal who never had to work.
Why are you calling people who post about H1-B workers racist ? That is the typical Liberal response label people and attack.
When companies outsource jobs that is bad enough, but when they start importing workers and forcing the U.S workers to train them that is bad.
It has nothing to do with U.S workers being lazy or not skilled, but everything with paying H1-B workers 30% +++ less than their U.S counterparts
90% of the STT people being let go have been with the company for 15+++ years.
maybe if you guys were a little less racist you wouldnt worry about layoffs as much :) do your job. those indians are much harder workers than any of you.
Then when the H1-B workers get their greencard they go and work for a higher salary at another company. Those savings are temporary and not even sure there is a savings when looking at the work quality and extra costs of knowledge transfer which usually never goes as fast as planned..
@Post ID: @TPd1hhU-1xkq
Nope SST is doing it not because they are unable to find qualified U.S workers. For the lat 10+ years they been replacing the highly skilled U.S workers with H1-B workers for 35% less in salary.
Yes, it one thing that you outsource and take jobs overseas but then you bring people from overseas to work here for similar wages as the Americans laid off is not right.
At the same time if you are born here you should have tens of thousands of tuition fees left if you risked going to a reputable school... So partially we can blame the expensive education on having less educated people and forced to import workforce.
Not surprising. I work at SSFC and I'm not joking, if you go into the cafeteria at lunch time you may as well be in Bangalore. It's a sad situation. This 225 year old American company can't think of any other way to reinvent itself other than to outsource American jobs to India and bring the Indian workers here to displace those Americans that are left. Truly a crap company nowadays.