Thread regarding Edward Jones layoffs

This bill is a "nice gesture" with good intentions, but like with most "nice gestures" from Congress, this bill would end up backfiring on both consumers and employees. Companies would just pass on their additional costs to consumers and continue to offshore cheap labor from overseas. In the end it won't change a thing.

Which is really unfortunate, because something like this is sorely needed in this country.

25% would not even be a dent in the cost difference for an onshore worker vs an offshore one. That’s the hard truth of that. It would have to be more severe such as 80-90% or more to affect those plans.

The tax should be 100% of what theyvpay the offshore worker.

They need to devise simular penalties for the HB1 visa program. It's time for this country to invest in its own people for once.

Bill won't pass? Then vitr in the people that will.lass it, which is generally anyone without an R next to their name on the ballot. Quit voting against your own interests.

Here’s the irony. Outsourcing is a dead issue thanks to AI (which will do the same work that offshore providers do with cheap labor). The McKinsey weenies like littlemore, Chubak and Malik did thousands of offshore deals in their careers, it’s really their only playbook, and it’s outdated.

Meanwhile, EJ is being lured by consultants and outsourcing providers into signing outsourcing agreements under the pretense that they will “offshore to automate”. This is what tech and ops started 2-3 years ago.

Now, who here actually believes that an Indian offshore company (whose product is people labor) will willingly cannibalize labor revenues to hand EJ a fully automated system that doesn’t need their labor?
Despite the washed up McKinsey clones around the table, the ELT doesn’t realize they are playing checkers when the consultants and outsourcers are playing chess. Big surprise.

Unfortunately, associates are the pieces on the board - and we’re gonna lose big.

@aa I expect that for the backfilling of positions, EJ is going to go with H1b 's. It's from DC's playbook when he was at Citi.

Bill won’t pass

They'll either pay it because cross continental exploitation is still cheaper, or they'll just exploit through the h1b visa process.