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most banks run as400 systems. not like they teach as400 in bcit. most people working on as400, iseries type systems are 50+ as far as RBC goes, its correct . most big business do outsourcing. this is not different. these workers are here for knowledge transfer, once that's done. IT systems will be managed from India. and fyi to others. my bro.s wife worked as a cooperate lawyer in India (company based out of Boston). her law office mostly dealt with outsourcing, making outsourcing agreements etc.. she said, not only IT. but bookkeeping /accounting /medical R&D/ and also alot of legal documentation is being outsourced to India. Most Americans are against outsourcing, and it was also a campaign topic for Obama. In canada we haven't had anything outsourced other than IT, but wait till other jobs are lost to the developing world. |
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They are bringing these people from overseas on temp permits to replace these Canadians. Not setting up a building/place in India. I think it hits Canadians closer to home. When does the buck stop? How much more Foreign temp permits do we issue? Esp when BC lost jobs last month. Especially when they start making education requirements or the transition a lot easier, especially from the Phillipines (health care workers). On a side note: That Royal Bank HR Chick did not do a good interview. Better move would have been to issue a memo. |
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The average joe is slowing starting to realize that theres not enough jobs out there. Even if you have a business/IT/engineering degree, you're facing an uphill battle in terms of jobs, and they feel its unfair, rightly or wrongly. The people that came from affluent families dont have to worry about it as much as the people from poorer familes. Things are different now than they were 10 years ago, and much different than it was 20-30 years ago. And worst is more and more people are starting to see that these corporations are receiving all these tax cuts and tax breaks, and are reporting record profits, but they aren't hiring any more workers, they are in fact doing the opposite in order to further cut costs. It's similar to that line in Fight Club that edward nortons character says. . .. people are starting to get pissed off. "We've all been raised on television to believe that one day we'd all be millionaires, and movie gods, and rock stars. But we won't. And we're slowly learning that fact. And we're very, very pissed off." except replace this with the saying that tax cuts are good for employees as it will hire more jobs, and there's a huge labour shortage. and we need more foreign employees to "grow" our economy. bottom line, populations increasing + jobs decreasing = trouble ahead. |
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But now that it's hitting the white collar jobs, people are starting to think, ohh shiet, this can happen to me, and this is affecting me directly, people will get pissed. |
seems like CEO of RBC has finally "apologized" Quote:
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1 Attachment(s) You're in shit now RBC. |
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I know alot of people hoping the governement dont do shit. You think its just RBC? Go to any chain/gas station in any rural area of BC or Alberta and count the filipinos. Essentially my friends say that they would rather hire a filipino on a work permit because they will work any hours, at a respectable wage (it costs more to hire an oversea worker) but they will never call in sick or never steal etc. Canadian work ethic sucks. |
Maybe if you're hanging around with deadbeats with McJobs, Canadian work ethic is pretty damn good. |
Unions threatening to pull investments managed by RBC | News1130 Quote:
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CEO comes with outsourcing plan to save cost Outsourcing problems get swept under rug Numbers come in for a couple quarters, looks great CEO reaps bonuses Problems of the outsourcing are starting to accumulate and crawls out from under the rug Shareholders unhappy CEO bids farewell with large bonuses and severance in hand New CEO appointed to clean up mess rinse and repeat |
^@2.07 billion quarterly profit (~23 million/day), the CEO's yearly salary was paid in less than a half of a working day. Just thought that was interesting and in the big scheme of things, not that much at all. |
^still small change compared to the big bankers.... Still can't believe Steve Cohen gets charged 600million for inside trading then buys a damaged Picasso for 155million! Posted via RS Mobile |
Full story in the link below Ex-RBC foreign workers say contractor controlled their lives - British Columbia - CBC News Quote:
So who really wins at this point? Canadians? The skilled temporary foreign workers? shareholders in the long run? https://fbcdn-sphotos-c-a.akamaihd.n...92537996_o.jpg |
-wanna discuss this topic from another point of view. As federal staff, I work for the Temporary Foreign Worker Program. If companies like RBC and more, recently, HD Mining with the coal miners fiasco, are looking at ways to exploit this program to improve their bottom, you can bet the feds would do a detailed investigation about these hiring practices. Perhaps there needs to be revisions to the program requirements to prevent Canadian companies from using these questionable hiring practices. -not defending the government just because I'm staff. You can point the finger at the corporations and the feds on this RBC/I-gate news item. There's more than one party at fault here. First, the corporations like RBC for hiring foreign workers instead of Canadians. Second, the government program requirements for hiring foreign workers which do not filter out the employers who do not have legitimate reasons to hire foreign workers (staff shortage, lack of Canadians who have the skills and experience needed for the job). |
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my neck hurts |
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What you just described sounds like how our political system currently works :) |
The problem of course is the fact that a CEO's job is legally to be greedy; "to look out for the best interests of the shareholders". Which is to say, "To fuck everyone over to the best of one's abilities while not devaluing the company's stock and simultaneously increasing profits" It makes me sad that we can accept that as part and parcel of life these days. |
RBC's CEO is only apologizing (sorta... he actually addressed to the employees) because of public pressure. When the spotlights turn away, the same practice would continue. Unless enough support is gathered and politician actually make laws to prevent this from happening, it would simply continue. This is the essence of capitalism and as a public traded company, it's RBC's responsibility to do everything in its power to earn another dollar given the legal boundary. I'm not suggesting RBC's actions were justifiable, but they were legally (pending investigation) correct while being a moral disaster. This is just how it works. It's just like how rich people/company setup complex tax system to minimize taxes. They go to such an extreme that for some of them, their rate end up in negative territory. |
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I was an RBC customer for over 17 years. 17 years no more. |
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