Is it Charlie? The HR woman from China? I can’t stand this duo!
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Wells and all of our corporations choose outsourcing and H1-b visa workers because they are cheaper and younger than American.
BRICS and many other nations choose to de-dollarize because exchanging in yuan and rs are cheaper than USD.
See where we are going?
American workers first! I am no racist. Stop mixing race in every issue. WF is an American bank serving primarily U S customers and markets, built by American workers and customers. What’s wrong with saying American workers first!
@ 1etg+1n4btD4F No it’s not. Nice try though.
The outsource-to-India model has been around for ages...and it fails every time. I have a handful of Indian friends and coworkers who are worth their weight in gold, but that is the exception. The folks living abroad don't care enough about the job to "do the needful" and every single time Wells (or any other company that I've experienced this with) outsources to India, within a year or two, they start bringing the jobs back because it's failing so badly.
I think this is a temporary way to cut some costs drastically and I guess they are willing to gamble on the failures, although this time it does seem they are sending the more difficult and critical jobs over.
Strap on the seat belt and hold on for the train wreck...
Straight from the WEF most likely.
WF has been sending jobs to India for many years.
It started out and was (before Charlie) intended to be ONLY lower skill bits and pieces of jobs. A way to take the administrative type of tasks out of way for the American worker to do their primary job and farm those low risk and mundane tasks somewhere to be completed on the cheap. A better option would have been to actually invest in technology and in streamlining the archaic processes. However, rarely does WF make good long term decisions.
When Chainsaw came on board, he upped the ante and direction significantly. Now India needs to be considered for all types of jobs well above the scope of administrative. Jobs involving higher skills (and hence employee pay) such as oversight, loan decisioning, procedure writing, technology, risk/control, etc. No longer is India an OPTION but now we have target goals to move any job there. Well, any except the c-suite of course, because they are a protected Hudson Yards group, right?
30%
It is even worse outside.....
The minute you say American workers first - you are RACIST!
It might come back when a loaf of bread is $10 and China yuan and Indian rupee (BRICS currrency ) is stronger. But you don't probably want that H1B job at that time because you cannot afford a living with salary.
This has been happening for so long. Wells is way behind the times - like with everything
White Wonderbread Charlie. It's Americans that sell out us Americans.
OP has just learned about American Capitalism.
Started by GE in the 60's and 70's so probably Fred J. Borch.