They moved half our team overseas last year and the quality dropped immediately. But they saved money so nobody cares.
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So fraud comes out of there too but thats just the cost of doing business to them.
@ee maybe something to do with not able to grow over those 5 years?
Is severance expense in that calc? Might need to wait for all those events to fall off.
@c3 they haven’t move the needle on their beloved efficiency ratio in 5+ years even with layoffs. It’s actually going backward. Have copilot show you the Wells Fargo efficiency ratio for past 30 years…sigh.
The real tragedy is this: while outsourcing should reduce costs, WF leadership is so horrendously bad that they almost certainly fritter away any possible benefit and we're all getting downsized for nothing. I know this is true with their domestic contracting, it costs more money in almost every instance. Who has confidence that they are reaping any rewards from outsourcing at all?
It's called enshittification, and it's everywhere. Go ahead and look it up, I'll wait.
Who said they were looking for better work? This was strictly an expense play. Unfortunately, there's a huge lag in seeing back office production impact revenue.
Amen. They certainly didn't open Irving, TX for the talent pool.
Correct. Would you pay 200,000 for a Rolls Royce (high quality) or buy a Kia for 20,000 (med quality)?
They didn't save money on the time people waste trying to get straight answers from our overseas department, that's for sure.