Bank of America’s way to outsource jobs
Bank of America actively outsources its tech jobs to India. Former tech staff of the company lose the jobs, but in addition to that they have to train their Indian replacement to get their severance pay.
In fact it is a common practice for most companies worldwide – to train a replacement. But an interesting fact about Bank of America situation is that some Indians come to the USA for training and never leave. So, Bank of America hires Indians to work in the USA. How can it be? The Indians work for some Indian tech companies (for Infosys Technologies and Tata Consultancy Services and not for Bank of America) for half the pay of a US worker.
Bank of America says outsourcing saved about 100 million dollars for the past 5 years. It is rumored that the Bank is going to outsource more jobs (call centers to Latin America) with the increase of Latin customers. The company runs a Culture Connection program that is responsible for outsourcing jobs worldwide.
[tags]bank of America, outsourcing, telecommuting, telecommuting jobs[/tags]
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