Thread regarding Fidelity Investments layoffs

Greed Is Not Good

Rather than blaming the people of India, the benefactors of outsourcing,
consider instead the company owner, who outsources jobs to India.
Fidelity, a private company, not beholden to shareholders, has an owner with a personal
networth of 21.7 billion.
She alone, feels the pressing need to reduce payroll costs and overhead to such a degree that she must outsource work to India. How many billions does one person need? Blame is easily misplaced.

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| 1985 views | | 10 replies (last September 14, 2023) | Reply
Post ID: @OP+1ofdeLpN

10 replies (most recent on top)

@bfe+1ofdeLpN
It is everywhere. Best of luck and if you haven't start looking.

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Post ID: @mfuy+1ofdeLpN

Greed is good, outsourcing's biggest setback...Company Loyalty.

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Post ID: @7pfq+1ofdeLpN

I want to clarify the things here folks. I understand and sometimes admire all your effort. But never ever talk about my Kellogg's Crunchy Nut again. ;D

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Post ID: @1ein+1ofdeLpN

I am a cereal downvoter. Hate those Corn Flakes.

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Post ID: @1zit+1ofdeLpN

Yes, they use downvote to clean up the threads.
Thankfully we have https://web.archive.org/ and other
tools too keep this pure gold.

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Post ID: @ffv+1ofdeLpN

Oh we have a serial downvoter

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Post ID: @fih+1ofdeLpN

I would not blame the people of India for taking the Fido jobs that are and have been sent there, that is not their fault. How well they do the job and how much extra work they cause the remaining domestic works is an issue that will never go away and will never be addressed by upper management.

During the first few rounds of sending jobs there I can tell you there were threats that were made to push jobs to India. If you didn't get onboard with offshoring they would tell you they were going to get rid of you and replace you with someone who would do the offshoring. Greed at the top of Fido has always been there and will feel worse over time because she is trying to be as successful as her father and that is impossible.

Glad I took the VBO and I'm sorry (but not surprised) that things are getting worse for the actual people doing the real work. All I can say is if you are close or eligible for the next VBO hang on then take the deal and run.

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Post ID: @iry+1ofdeLpN

I’ve been here over 15 years and have never seen morale so low. My org can’t retain temps/new hires. Volumes keep increasing, headcount stays the same AT BEST, given more and more unrealistic targets while client facing associates are given the message that we aren’t doing enough and/or we aren’t doing it correctly. Very reliable productive senior associates are either leaving for lateral moves or leaving the company altogether. It’s so depressing.

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Post ID: @bfe+1ofdeLpN

We are all hurting so badly. It’s all anyone talks about at work. Half of inflation raises for several years, no shares to be seen in my department, various suggestion boxes placed around, poor company-wide and PI pulse results with most categories going DOWN, way too much work above and beyond our jobs always out on our plates for nothing in return…we need more money.

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Post ID: @jej+1ofdeLpN

Greed is good, the movie said so.

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Post ID: @kbd+1ofdeLpN

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