Bank Outsourcing, Will it Hurt Downtown

[poplife88]

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.

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I'm so glad now that my Mom encouraged me to go into the health industry.

[Sabaidee]

I'm so glad now that my Mom encouraged me to go into the health industry.

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Makes me wanna change my major.

[ElricSeven]

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.

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With no comment on whether or not such activities are right or wrong, I can only say offshoring isn't going to stop. The smartest thing for everyone to do is to come to terms with that and seek to improve your skills to a level, or shift to a different area, that is not as at risk from overseas competition. I know it can be discouraging, but just about every career is a moving target. The same supply shortages that benefited IT workers with big salaries in the short term are supplying the incentive for cost reduction. At least there was that demand and good pay for a while (hopefully during which substantial savings were accrued).

I saw the same thing in Pittsburgh when the steel industry shut down. Half the workers got angry and dispirited and have never been the same since. They've been on a 20 year drinking binge, have troubles with the law, etc. The other half adjusted and did well, my uncle became a communications cable installer, another a nurse, yet another family member a plumber.

JMHO

[ilektronik]

The smartest thing for everyone to do is to come to terms with that and seek to improve your skills to a level, or shift to a different area, that is not as at risk from overseas competition.

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*fingers crossed* rock star....rock star...come oooooon rock star gig!!

[Miesian Corners]

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.

<{POST_SNAPBACK}>

Still goes back to corporate America. The fact that someone gets a work visa doesn't mean a company must give them a job. It all comes down to the almighty dollar. Think about it, we are part of a culture that shops at Wal-Mart for the lowest priced goods. Those goods are produced in Asia where a worker makes pennies per day. Then we complain about the Third World taking our jobs. We're the ones who demand cheap dvd players. Those couldn't be made here and sold for $69.99. We have to learn we can't have it both ways.

Good luck on the rock star gig. I'm following A2 for a career in porn.

[A2]

Still goes back to corporate America.  The fact that someone gets a work visa doesn't mean a company must give them a job.  It all comes down to the almighty dollar.  Think about it, we are part of a culture that shops at Wal-Mart for the lowest priced goods.  Those goods are produced in Asia where a worker makes pennies per day.  Then we complain about the Third World taking our jobs.  We're the ones who demand cheap dvd players.  Those couldn't be made here and sold for $69.99.  We have to learn we can't have it both ways.

Good luck on the rock star gig.  I'm following A2 for a career in porn.

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[poplife88]

Why can't a company be content to make a million dollars? They have to show their stockholders that they're aggressive in growth and in cutting back in expenses. But at the end of the day, they still made a million dollars! It seems to me like this stock value thing is just a figure on a piece of paper that benefits an investor that has nothing to do with the nuts-and-bolts, blood-and-guts, day-to-day management or profitability of a company. It just makes the middle-class man more vulnerable in my opinion.

[peaceloveunderstanding]

its called capitalism... It favors the entreprenuer and the smart individual over the group.

[monsoon]

Still goes back to corporate America.  The fact that someone gets a work visa doesn't mean a company must give them a job. 

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uhhh. Yes it does. The H1B visa that is so common for alien technology workers here, require sponsorship by a company (ie a job), or they are not granted. So you get two things. A cheap foreign worker instead of a better paid American worker, and a person caught in servitude to the company because if the company fires them, they get deported. Its a bad situation for everyone.

People like Bill Gates love it because while Microsoft is one of the wealthiest companies on the planet, they won't pay technology workers a decent wage. There is a shortage of technology workers because it is no longer worth going to college to get a degree in computer science. In a few years the USA is really going to find itself in a bad way.

[MZT]

My background was in programming, but I have snuck into into an administration and reporting area. Sometimes I miss coding, and the cameraderie of programmers. But I haven't felt tempted to go back.

Things are too fluid and insecure in the technical divisions. Not enough bodies to handle all the competing priorities... Once or twice a year, another re-org, or cutback...

If I can earn 80% of what I did as a coder, just editing Excel worksheets and Powerpoint, then it's not a bad tradeoff.

[ilektronik]

like ElricSeven was getting at...we have to simply adapt. Personally I am dwelving more and more into system architecture and designs. Typically only the code-monkey gigs are sent over seas, while the architects and designers are kept local.

Or I can just write the soundtrack to A2 and Miesian's porn saga about the newest tower being ...erected...in Charlotte. "Urban Porn Planet"

[dubone]

anybody read the 'world is flat' yet? code-monkey jobs are first, but there will be many many many more as businesses get used to the idea of offshoring.

there are assistant jobs, where you can get an assistant in bangalore to do research, or build powerpoints, or whatever else most assistants do.... they work "overnight", and have the work done when the boss gets to work in the morning.

accounting, tax prep, even services like having indian radiologists reading MRIs, etc.

i'm currently on a project that is being offshored. they announced the specific people who will lose their jobs in our group yesterday. While i think it will ultimately be good for my employer, this will be a much more scary economic shift than manufacturing off-shoring, as now some of the best middle-class jobs in our economy are leaving.

honestly, although a real estate bubble is not necessarily happening right now... it actually might be a net benefit for our society if one did "pop", as real estate prices are one of the primary factors in the high cost of living that compels high salary demands.

[monsoon]

like ElricSeven was getting at...we have to simply adapt. Personally I am dwelving more and more into system architecture and designs. Typically only the code-monkey gigs are sent over seas, while the architects and designers are kept local.

Or I can just write the soundtrack to A2 and Miesian's porn saga about the newest tower being ...erected...in Charlotte. "Urban Porn Planet"

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Better get out that camera. System architecture and design almost always follows the programmers.

[dubone]

Better get out that camera.  System architecture and design almost always follows the programmers.

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somewhat true... many employers, however, are hedging risk by keeping those functions onshore. there is also lower risk of communication and cultural barriers by doing so, as design often relies on subtle input from many sources onshore, which is not the strength/comparative advantage in the current wave.... however, be prepared (with the camera or whatever else), because the third world is hungry for our wealth... and they will learn our accents, our culture, and anything they need to get multinationals to offshore functions.

[monsoon]

There is an article today where the CEO of Wachovia thinks it is a good idea to ship American jobs to India and a suggestion that 4000 more tech jobs and support jobs will be outsourced out of the company. Anybody knows that means for this project?

BTW, its called "Global Resourcing" now. Kind of like putting perfume on a pig if you ask me.

[hueion39]

There is an article today where the CEO of Wachovia thinks it is a good idea to ship American jobs to India and a suggestion that 4000 more tech jobs and support jobs will be outsourced out of the company. Anybody knows that means for this project?

BTW, its called "Global Resourcing" now. Kind of like putting perfume on a pig if you ask me.

It will have no impact on this project. It will allow savings to Wachovia which will be plowed back into the Investment Banking division. This means more jobs to Charlotte, and possibly a taller tower and new trading floor!