Sat, 10 Jun 2006

Techies Asked To Train Foreign Replacements

Note the amount of money the bank is claiming to have saved by outsourcing. Now note the interest rates they've charged over the same period. Funny how both numbers trend upwards, eh?

Personally, I'd tell BoA where they could stick my reverence pay, without benefit of lubrication.

David Lazarus of the San Francisco Chronicle is reporting that Bank of America (BofA) is moving thousands of tech jobs to India and has asked its techies to train their Indian replacements or risk losing severance pay. Although there is nothing in writing that says precisely this, the employees have been made clear about this responsibility in their meetings. BofA is outsourcing tech work to Indian companies whose employees do the work at half the cost of what a U.S. worker gets paid. According to an estimate, outsourcing has allowed the bank to save about $100 million over the past five years.

(link) [Slashdot]

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