State Street opened a second new office in Abu Dhabi on Monday (Sept 10) expanding in the United Arab Emirates as it eyes growth prospects in the Middle East region.
Only a matter of time before layoffs are used to fill positions over there.
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@Post ID: @V6pZQyr-ivkj
When all the work was being done in the U.S offices the mgmt set a 90% accuracy standard.
The motto was quality not quanity , maintain a 90% or better .
Now it seems the people in India believe in trying to impress the bosses by rushing with the work to make it look like they are getting things done on time, which is true.
Except its the U.S workers who spend more than 50% of our time having to review and correct it, and send it back to them with notes.
Layoffs are coming.
@V6pZQyr-ifrq Yes, I agree with your prediction of 85% of the US workforce being relocated to India by the end of 2019. Of course in my opinion this offshoring has resulted in very poor quality work being produced and many who still work in the US reviewing/editing a good percentage of the work that they receive. I really don't see how this can continue without losing some of their clients.
I was a managing director in Fund Admin in Boston up until this summer (I left voluntarily) and I can confirm that their plan is to move 85% of the US workforce to India by the end of 2019. Some groups are at 50% or more already. If your group is not at 85% now, more layoffs are coming and a good financial report in Q3 is irrelevant.