Bank Outsourcing, Will it Hurt Downtown

[hueion39]

How is outsourcing good for the people?  That is what I am wondering.

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Lower prices, better products. Efficiency.

[cinco]

Lower prices, better products. Efficiency.

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it is never that cut and dry. hueion, let me ask you if you see any negatives to outsourcing?

[peaceloveunderstanding]

Information Technology jobs

What exactly are these jobs? IT is pretty broad... Security, Database Management, etc...

[hueion39]

it is never that cut and dry. hueion, let me ask you if you see any negatives to outsourcing?

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No.

However, the personal aspect of losing your job is tough. It means that employee must become more productive and better educated to compete. This is a benefit to society though.

What I dislike about the term "outsourcing" is that it implies negative ramifications. Outsourcing is competition, which is good for the consumer. Outsourcing happens everyday within our country's borders. When a company relocates from Virginia to NC ..... that is outsourcing.

[bork]

How is outsourcing good for the people?  That is what I am wondering.

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Probably not good for the American people, but the people over in India seem to enjoy being brought out of poverty. It's a leveling effect. We're up here, they're down here. The tricky part is bringing them up here without pulling us down somewhere in the middle.

[monsoon]

No.

However, the personal aspect of losing your job is tough. It means that employee must become more productive and better educated to compete. This is a benefit to society though.

What I dislike about the term "outsourcing" is that it implies negative ramifications. Outsourcing is competition, which is good for the consumer. Outsourcing happens everyday within our country's borders. When a company relocates from Virginia to NC ..... that is outsourcing.

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uhh no, it is a relocation. LOL

Outsourcing is neither more productive nor more efficient. But it is less expensive. It is inexpensive because countries such as India & China are not required to follow the same rules as that in the USA. i.e. provide decent benefits, follow environmental rules, not employ anyone under 16, provide safe conditions, etc. And both countries have a combined total of about a billion people living in dire poverity that are willing to work at any price.

The United States is allowing its companies to place work in these areas to avoid the expense of complying with USA labor laws. It puts more profit in these companies pockets, it does nothing for the consumer, the workers, and eventually the country as we continue to lose the skills need to operate an economy.

[hueion39]

uhh no, it is a relocation.  LOL

Outsourcing is neither more productive nor more efficient.  But it is less expensive.  It is inexpensive because countries such as India & China are not required to follow the same rules as that in the USA.  i.e. provide decent benefits, follow environmental rules, not employ anyone under 16, provide safe conditions, etc.  And both countries have a combined total of about a billion people living in dire poverity that are willing to work at any price. 

The United States is allowing its companies to place work in these areas to avoid the expense of complying with USA labor laws.  It puts more profit in these companies pockets, it does nothing for the consumer, the workers, and eventually the country as we continue to lose the skills need to operate an economy.

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And out comes the political slant....

[cinco]

And out comes the political slant....

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anyone who thinks that there are NO negatives in outsourcing - seems more immersed in political slant, IMO.

monsoon, makes very good points...most of which i think are true. obviously there are pros and cons to outsourcing. i am not opposed to the concept. but, i do believe there should be greater incentives for companies who choose to keep jobs in the U.S.

[hueion39]

anyone who thinks that there are NO negatives in outsourcing - seems more immersed in political slant, IMO.

[RiversideGator]

A practical way for individuals to combat "outsourcing" (which is perfectly legal and enhances a corporations competitive advantage, though it is a bit unpatriotic) is to vote with your money and not use companies that do it. So, close your Wachovia account (or whatever the company is) and use a smaller local company that does not do this. This is your right in the free market.

[Miesian Corners]

As a rule of thumb, one office worker equates to 175 to 250 sq ft. There are 12.4 million sq ft of Class A and B space uptown. In the 1Q, the uptown vacancy rate was 7.1%, so we can lower our actual square footage to 11,520,000. Using 215 sq ft as a basis, one can assume there are nearly 53,600 workers up here.

Note: Class C space was not included, likewise, neither was retail or industrial space, so there are probably more people employed uptown than I report.

[ilektronik]

working for a bank would make me nervous. i just turned down a gig at Wachovia even though it was a higher rate than this Duke gig I'm on simply because I'm scared of working for banks!!! they LOVE to offshore us nerds ...errr i mean software developers

[monsoon]

working for a bank would make me nervous. i just turned down a gig at Wachovia even though it was a higher rate than this Duke gig I'm on simply because I'm scared of working for banks!!! they LOVE to offshore us nerds ...errr i mean software developers

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They earned that name "Walk All Over Ya"

[A2]

working for a bank would make me nervous. i just turned down a gig at Wachovia even though it was a higher rate than this Duke gig I'm on simply because I'm scared of working for banks!!! they LOVE to offshore us nerds ...errr i mean software developers

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This is true. I am in a sales role, so I fair a bit better. I do not like what corporate America is doing with offshoring all of OUR jobs. I think we as citizens of this GREAT land need to speak to our elected officials to have this whole thing stopped ! I am a born and bred American and damn proud of it ! I do not see why the CEO's of the largest firms in America can't stick to their guns and create jobs here in the homeland that allowed them to build their firm here in the first place. Don't get me wrong, I have nothing against India or its people, but I take issue with the fact that every time I call a help desk my call is sent overseas. Hell, I don't care how educated they are, they can't talk. I understand nothing they say. The communication barrier is ridiculous ! I have had instances where I will call for tech help and literally need an interpreter to aid me in what the heck the guy on the other side of the line is saying.

A2

[Sabaidee]

working for a bank would make me nervous. i just turned down a gig at Wachovia even though it was a higher rate than this Duke gig I'm on simply because I'm scared of working for banks!!! they LOVE to offshore us nerds ...errr i mean software developers

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Bill Gates, recently was complaining how the US don't have enough computer science majors.

[ilektronik]

This is true. I am in a sales role, so I fair a bit better. I do not like what corporate America is doing with offshoring all of OUR jobs. I think we as citizens of this GREAT land need to speak to our elected officials to have this whole thing stopped ! I am a born and bred American and damn proud of it ! I do not see why the CEO's of the largest firms in America can't stick to their guns and create jobs here in the homeland that allowed them to build their firm here in the first place. Don't get me wrong, I have nothing against India or its people, but I take issue with the fact that every time I call a help desk my call is sent overseas. Hell, I don't care how educated they are, they can't talk.  I understand nothing they say. The communication barrier is ridiculous ! I have had instances where I will call for tech help and literally need an interpreter to aid me in what the heck the guy on the other side of the line is saying. 

A2

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The language barrier argument unfortunately doesn't work for software development. You don't need to be able to speak english to hack code, you only need to be able to speak computer lol

The problem is that us software developers here in the America are WAAAAAY too overpaid(although I don't complain much about this lol). Companies can get the same quality work in India or China for much cheaper because the cost of living and quality of life there is so far behind us. There is hope however. The new trend seems to be "offshoring" to the midwest as opposed to....well offshore. If an entrepreneur goes out to East Jesus, Iowa and finds some small farm community and sets up a software development shop there, they can pay their employees 1/3 of what they pay big city employees and the employees won't have to sacrifice standard of living. This way we keep the jobs in the US but solve the SHORT TERM problem of dealing with over inflated salaries. This is indeed short term because those small towns will no doubt develop into big towns eventually.

[ilektronik]

Bill Gates, recently was complaining how the US don't have enough computer science majors.

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because in the post-dotcom/offshoring world of today, programmers aren't the hot commodity that they were in the late 90's.

[A2]

The language barrier argument unfortunately doesn't work for software development. You don't need to be able to speak english to hack code, you only need to be able to speak computer lol

The problem is that us software developers here in the America are WAAAAAY too overpaid(although I don't complain much about this lol). Companies can get the same quality work in India or China for much cheaper because the cost of living and quality of life there is so far behind us. There is hope however. The new trend seems to be "offshoring" to the midwest as opposed  to....well offshore. If an entrepreneur goes out to East Jesus, Iowa and finds some small farm community and sets up a software development shop there, they can pay their employees 1/3 of what they pay big city employees and the employees won't have to sacrifice standard of living. This way we keep the jobs in the US but solve the SHORT TERM problem of dealing with over inflated salaries. This is indeed short term because those small towns will no doubt develop into big towns eventually.

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I like this idea a LOT better than sending them overseas. Keep the JOBS here. I would love to see small town Kansas get some green out of the deal. Thanks for the post !

A2

[ilektronik]

I have had instances where I will call for tech help and literally need an interpreter to aid me in what the heck the guy on the other side of the line is saying. 

A2

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thank you come again...

[A2]

thank you come again...

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[Sabaidee]

lol, I feel it irratating talking to a person who doesn't speak English clearly when I'm calling for help and then he/she is repeating what I said to them. It took me almost 20 minutes for me do a phone swap with Sprint because I couldn't really understand what she was saying, and doing a phone swap on Sprint, you have to read out certain numbers. Then when she was finished, she went on saying, that's a nice upgrade and blah.

[hueion39]

lol, I feel it irratating talking to a person who doesn't speak English clearly when I'm calling for help and then he/she is repeating what I said to them. It took me almost 20 minutes for me do a phone swap with Sprint because I couldn't really understand what she was saying, and doing a phone swap on Sprint, you have to read out certain numbers. Then when she was finished, she went on saying, that's a nice upgrade and blah.

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It has less to do with the location of the worker and more to do with the call center service agenda/ cross sell opportunities. Someone is making a lot of money fluffing call centers with unproductive scripts.

[Miesian Corners]

I love Indian food.

Let's keep things in perspective here folks. It's BIG AMERICAN CORPORATIONS that send jobs to India. Indians are not coming over and stealing them from us. You can't steal something that's given to you freely. Let's not forget that. Folks in Asia are trying to put food on the table just like we are here. If they are able to get a job, good for them. If that job was once here in the U.S., well, not their prob...it's ours and our thirst for the highest possible share price. As stock holders, we are responsible for what has happened. Workers be damned, as long as MY 401k makes money.

Face it, every big multi-national wants to be just like Wal-Mart.

[A2]

I love Indian food.

Let's keep things in perspective here folks.  It's BIG AMERICAN CORPORATIONS that send jobs to India.  Indians are not coming over and stealing them from us.  You can't steal something that's given to you freely.  Let's not forget that.  Folks in Asia are trying to put food on the table just like we are here.  If they are able to get a job, good for them.  If that job was once here in the U.S., well, not their prob...it's ours and our thirst for the highest possible share price.  As stock holders, we are responsible for what has happened.  Workers be damned, as long as MY 401k makes money. 

Face it, every big multi-national wants to be just like Wal-Mart.

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how true this is MC.

A2

[ilektronik]

It's BIG AMERICAN CORPORATIONS that send jobs to India.  Indians are not coming over and stealing them from us. 

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Small companies are also guitly of outsourcing. I worked for one and was laid off because the company outsourced their contractor workforce to India.

As for Indians not stealing our jobs.....I have two words for you:

work visa

Don't get me wrong, I have no problem with ANY ethnicity/race (well except for Martians, that Marvin guy and his death ray make me a little nervous). That being said, I do believe in AMERICANS having jobs here in America!!! Someone can come here on a 3-5 year work visa, take my job because they will work for less, then go home and open up an offshoring shop with the money/experienced earned. IMO if you want the right to work here, then become a citizen. This way you are at least contributing to our society and not simply milking it then going home.