Y'all ready for this? Brace yourselves -- the fallout is going to be phenomenal.
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Niche knowledge is and has already left. Yet here we all are. Wells still chugging along. Somebody picks up the slack, it’s a circular story
"If there's a widespread displacement, a lot of niche institutional knowledge is just going to walk out the door.
I assure you the business has not prepared for that."
nobody. cares.
literally.
That’s amazingly true, because I heard of our execs in WIM say this almost word for word when asked about overseas hiring during a town hall.
Labor and talent shortage is the aimed to expand outsourcing and H1B visa.
This message is all over Bloomberg news and Fed Reserve speeches.
Charlie doesn't want American engineers (or any other role really) so that's not a major obstacle in his mind. In fact, an inability to retain Americans (only due to his BS ideas) is a great excuse to outsource. "By golly, we'd love to hire more tech people in the US, but we just can't find the talent (sigh), I guess we're forced to look in India..."
That's how these A-holes operate and they are coming for ALL of our jobs.
@nfa As others have said, this is what nearly all LOBs have been dealing with for 2 years now. Not near a hub? Move on your own dime or ba-bye. Forced rankings where good people meet while average guy and lower are poor performers with no explanation/justification. Seasoned TMs who knew things are gone and teams are handed another team’s wk and everyone is in a state of confusion while sr leaders push for everything to be done yesterday and the addition of foreign workers we have to accommodate when we aren’t on the same time zones (or even close). For some reason, they also don’t ever schedule calls when you are available and have no addresses listed in their signatures or intranet.
There is zero reason for an engineer to go to an office. There is no way to stay in the game, hire or retain engineers if they are expected to RTO.
RTO will be the issue until the company complete fails or it's eliminated. I don't care if it's 10 years from initiating that failed practice, it will always be The Enemy. FRTO and FNYC.
It's no different than half of IT not near a hub. You guys aren't as special as you think. All LOBs are dealing with the same.
Many of us are hoping to be displaced.
Ha, boo hoo is right. Back during a stint with Credit Risk, I recall it was well known what a needless and bloated organization REVS was. Despite the ebbs and flows of markets, this group just kept on keeping on, even growing for some reason. I think most of the group's high profile protectors have left or are leaving so now it's subject to what the rest of the bank is facing.
boo hooo
"How is this a shock or news? RTO is a year old now."
Sure, but we've been in limbo forever and they're finally doubling down on it. There's a huge number of us nowhere near a hub. If there's a widespread displacement, a lot of niche institutional knowledge is just going to walk out the door.
I assure you the business has not prepared for that.
The ones not near a hub will likely be displaced. That is what is happening in mortgage underwriting and processing.
How is this a shock or news? RTO is a year old now.
All of REVS is now required to start returning to the office in a three-phased approach. But there's a not-insignificant number of team members who are nowhere near a hub.
I love lamp.
Hasn’t most of REVS already been in office for quite some time?
Vague posting is so 2005.
No idea what you are referring too... care to share details?