Thread regarding Edward Jones layoffs

@qd I don't understand your post. The company has been deceitful by overstating the role AI has played in layoffs (none), while downplaying the role outsourcing has played (significant). Because there are Indian associates working at EJ, we're not supposed to call this out,because it might come across as rude or something? Do you think the Indian associates here don't see what is going on? Do you think they're ok with their jobs being outsourced?

@qd not talking about the US based ones. The contractors that are getting outsourced US positions because they get paid 1/4 of what we make, but it takes 3 of them to get the work done. Which, still results in sc--w ups or sloppy finished product. This idea that we HAVE to use slave labor in order to survive the next 100 yrs is the d-mbest most short sighted thing they could come up with.

@ps pretty poor taste. You know we have associates who are from India, right?

@ps Operations has outsourced hundred of positions. Look up the directory sometime and look at the contractors everywhere. The typically replace 1 EDJ associate with 2.5 people from india. An 8 person team will be filled with 1 risk associate, 7 people laid off if they cant find work at EDJ and 24-28 contractors will fill the void...and still do sub par work. Good job penny.

Ai = An Indian. There is not a single person at Edward Jones that has been laid off in favor of "Artificial Intelligence". There are hundreds that have been laid off in favor of outsourcing to India.

@k6 meh, AI still can't figure 1980s software coupled with cheapest bid overseas vendor...don't worry though, the client branch experience will be full of "hungry humble hustle heart north star horizen 2030 vision culture". Identity theft on our clients will be nothing more than our clients getting outside their comfort zone. Upskilling if you will as we continue our transformation journey off the g-d@mn cliff

@er now AI can smooth over accents in calls so you might not even realize they are in India from voice alone

@f1 1000 is a lot. Offshoring in OPS division is typically a 2.5/1 ratio, sometimes 3. A team of 8 gets chopped, but they get replaced by 22 contractors in india. So 1000 additional is either going to be additional "help", or we are off our rockers and replace US based service workers with tons of cheap foreign labor. If this place doubles down on a known failed strategy like this, then I have no words.

@er I don’t know if it is off shore or on shore; I’m just thinking if they are gearing up to hire and train 1000 people by year end in service, I am sure it is not associates.

@de I feel like we are having a fire sale right now with the entire company. If there are more heavy layoffs and outsourcing, it's 100% certain that they will merge this company or we go public. They lie about everything, gaslight us 24/7, then make it obvious that they hate us. So what is to stop them from taking it to the next level of destruction? ELT and Penny's flunkies are at war with the very people who give her the $ to buy her clown suits.

@dd WHAT? If this is true this might be the final nail in the coffin for not only home office but branches. FA/BOA who are still here after mergers of branches will NOT want to talk to people in india. Has ELT lost their god damn minds?? If true, this has chubak written all over it. That clown wrecked so much stuff at CITI they had to undo his policies after he came here.

@d3 , this environment is toxic and makes me sick every day.....

I know for certain they are gearing up to train 1000 new people for Service by year end. There is no way they are not contractors and I am betting offshore call centers.

God willing they leave Compliance alone… AI or foreign contractors can’t supervise the gray areas like a human can… either way, while other firms are bringing people back after years of offshoring (look at JP Morgan), PP and crew are gung ho on doing what our competitors have already discovered doesn’t work.

For everyone in the field, please understand that nearly all HQ associates are on pins & needles every day, wondering what the next bullsh!t directive is being thrust upon us. Service, accuracy and hold times are going to get worse.

I was hesitant to use Co-pilot not because I'm an old and don't understand it. I don't want to participate in giving it information on what we do. However I think it's too late. High ranking GP / C-Suite is instructing departments to use it for every day tasks. Some divisions even have seminars to drive engagement. This is all being done to extract our personal knowledge.

@af They use AI as the excuse to fire us, but just replace us with cheap indian labor that will half a-s everything they touch. We cant even iron out the bugs in tasc or salesforce much less have AI take over our jobs

@OP Didn't service just hire a bunch of new people 6 months ago plus do a re-org? That makes no sense. Unless, of course the company is being run by people with a room temp IQ and moral compass totally inverted.

AI is creating massive opportunities for layoffs and we have the first managing partner in Edward Jones history that values money over people. We are all so sc--wed.

What? I'm in operations and haven't heard anything yet.