- 6% of staff are in offshore locations - LSEG factually has the most offshored staff for a financial services company globally. What are people in the UK’s thoughts on this especially given that London jobs are reducing and being moved out of the UK. Whether locations are ‘central’ ‘hub’ or ‘hybrid’ - isn’t it worrying that mostly all of the departments heads seem to be located outside the UK? Would this be how a US, Chinese, German or French company would operate their own ‘Jewel’?
15 replies (most recent on top)
TCS was a bad decision- incompetence impacting products and content. I’m sorry for the human aspect but the lack of competence was staggering
I work for TCS (LSEG ) project , I can absolutely say that they are definitely looking to get cheaper labor, there have been so many associates that have left in the last year from UK/US and they are (barely) replacing them with people from Mexico /South America. I am not saying they aren't qualified personal ,but they are certainly not getting paid what UK/US are getting paid or any one in the rest of EMEA for that matter.
So - can anybody confirm there’s a secret offshoring plan? And that leadership are abusing forced ranking to stealthily push people out in “high cost” locations via performance management?
@Fhjv+1nc3N3ev Okay, let's avoid country labels to not bruise your gossamer-thin skin, and describe it as such: can Tech Mahindra and TCS do as good a job as EPAM? Even if TCS quote a vastly lower price per resource but can't do the job and keep emailing Nottingham-based developers to install Tomcat and configure Jenkins for them, does this still count as cost-effective?
That’s the biggest load of BS. Have a look at where even the higher grade jobs are being created now, in places like India. Those jobs would have been the natural progression route for those lower grades in London. All gone now. And the UK will complain in the future they do not have the skilled workforce required when the likes of LSEG allow those in other countries to gain those skill sets ahead of people in the UK because of cost. Those same folk in those countries will be the same labour force the UK will be seeking to employ in the future to plug the gaps that could have been filled had there been labour rules in place to stop it. Wouldn’t happen in France!
The number of LSEG acolytes applauding even the most dehumanizing development direction continues to amaze me. Outsourcing to India, Costa Rica, Gdynia, Romanka or South Africa has nothing to do with the transfer of talent and remains pure accounting exercise. The level of service is directly proportional to the investment. Gross labor is passed on to other employees in self service. At the same time, people from low-cost location have zero chance for career progression beyond a certain threshold. Fat cats still in London and NY.
Some facts that a few man-childre here seem to forget while complaining about heads of depts being outside the UK, roles going to India etc. LSEG is UK headquartered but is a global company. 56% of its staff are in Asia, including 1/4th in India. LSEG has more employees in India than in the UK. You fail to catch up to the changing nature of the company, its size and scale, and then complain like crybabies. Your biases and lack of catching up to the environment might have reflected in your performance, and contributed in your getting canned from the job. I'm not happy about it but it's better to learn to compete in a changing world instead of crying on a forum and blaming it on India in extremely racist undertones. Prenez un grip!
"I don't think I'm being racist when I call large Indian tech companies the cr-ppiest Indian body shop"
- A not-so-gracious loser whose job was outsourced to the said Indian tech company.
Says everything.
@2qsb+1nc3N3ev it is not racist to mention that jobs are being shed in "high cost" locations and being added in India. It is also not racist to say that outsourcing business processes to the lowest bidder, with everything that entails. This comment reads like somebody who is dishonestly and immorally trying to stifle debate about offshoring in that a way that benefits Indians.
Some people on this forum who keep uttering racist BS against India really have some growing up to do.
Add another 100+ uk folks laid off in q2. Most likely role gone to India.
A line manager much older and wiser than myself reckoned that outsourcing, as a general rule, ebbs and flows over time.
What we DO have at LSEG, are greedy shareholders, private equity involvement, and so-called “leaders” who are just not very bright. They get little dollar signs in their eyes, go crazy with sending work to the cr-ppiest Indian body shop they can find, and then everything turns to sh*t.
That said, I’ve seen versions of outsourcing in the past where it wasn’t necessarily massively cheaper (Ukraine) but the devs were just really good, knew their stuff, and provided a ‘surge’ capacity for short, big projects. I’m sure the nuance is lost on the d-mb greedy sh--s in PSQ though.
This is a trend all over, and not specific to LSEG. Even banks in the UK are reducing headcount here and moving them overseas. It's the way the world is, if your job can be done at a reasonable quality elsewhere at a much cheaper cost, it will go there. The ones who pick up your job at the offshore location don't need to be as good as you are, they just need to be "good enough".
As low as that? I thought it would be at least 70% offshored :) It’s still rock and roll to me
It’s 32.6%