Citigroup cutting IT jobs, shifting some work offshore
Source: Computerworld
Tech staff seen heavily impacted by Citi plans to lay off 11,000 workers
December 5, 2012 03:32 PM ET
Computerworld - Citigroup is cutting 11,000 jobs, many in IT, as part of a restructuring announced Wednesday.
The job cuts are part of a plan to save about $900 million through a variety of actions, including "increasing standardization and the use of automated processes," as well as streamlining the organizational structure.
The financial services plan, in its announcement today, said it will also cut costs by consolidating functions and moving certain job functions to "lower-cost locations."
Citigroup, which reported that it employed 266,000 workers at the end of last year, provided few details about its various actions, such as what benefits the standardization will bring. A spokesman did confirm, however, that moving some jobs lower cost locations meant offshore sites.
Read more: http://www.computerworld.com/s/article/9234382/Citigroup_cutting_IT_jobs_shifting_some_work_offshore
Snip~ "Of the total number of jobs being cut, about half appear to be in its operations and technology areas, according to the announcement."
TwilightGardener
(46,416 posts)Classic dick move: "lower cost locations". So...India?
R. Daneel Olivaw
(12,606 posts)So that's why they will hire outside of the USA.
lilithsrevenge12
(136 posts)I actually did see where some companies were coming from when they said they couldn't find enough "qualified" workers, but this side-by-side comparison shows that it just another bull shit excuse.
R. Daneel Olivaw
(12,606 posts)can't find enough "qualified" workers that speak Hindi and will work for 70% less.
olddad56
(5,732 posts)let them move their entire operation to India, let them find a new customer base in India, and do business with another bank.
SoapBox
(18,791 posts)with scum companies like this?
raouldukelives
(5,178 posts)For some, that's as far as principles carry them.
ChromeFoundry
(3,270 posts)And their stock rises $2.17 per share.
...even more reason not to have one of their cards.
Ya know, they gotta keep those 2012 Executive Bonuses somehow.
kelliekat44
(7,759 posts)allan01
(1,950 posts)msybe its time to start treating these so called us companies as forigen companies and tarrif the heck out of them
AnotherMcIntosh
(11,064 posts)Senator Sanders will oppose the pending NAFTA of the Pacific, the TPP.
But will any other Senators and the President do so as well?
If there is a better way to destroy what is left of the American middle-class than signing another let's-send-even-more-jobs-to-foreign-countries "free trade" agreement, what is it?
Hotler
(11,428 posts)their jobs to lower cost locations sat back and thought " I have mine. Fuck everyone else." when manufacturing workers lost their jobs to out sourcing during the past ten years or so? While manufacturing workers lost their jobs by the thousand very few other working class people stood up and protested or went on strike in support. Nothing is going to start to change until more people feel the pain. Yeah my heart really bleeds for them.
Initech
(100,081 posts)Imagine what we could accomplish if this mentality were done away with...
OhioChick
(23,218 posts)I'm in the IT field and come from a family full of blue collar workers and I also live in Ohio. Yes, Ohio has been decimated by NAFTA and when blue collar jobs were being shipped over to Mexico years ago, I stood by my family, friends and neighbors with protests, boycotts, emails, etc. As a matter of fact, I still do.
Not everyone in IT feels "I have mine. Fuck everyone else." I never have nor anyone that I know of in my field.
ChromeFoundry
(3,270 posts)Many of us IT workers came from or started out in other areas, other technology, manufacturing or engineering careers, prior to re-engineering our talents to survive. Most of the people I work with (at least the ones that actually have talent) have never looked at the job landscape as an Us-vs-Them game... but more as an Us-vs-RestOfTheWorld reality. Too bad you can't look beyond your own set of blinders.
Skittles
(153,169 posts)I never met a single coworker who thought pimping manufacturing jobs offshore was a good deal
Initech
(100,081 posts)SoapBox
(18,791 posts)BootinUp
(47,165 posts)eom