'Very depressing': CIBC staff losing jobs to workers in India, expected to help train
- Thread starter yung_dood
- Start date
Unfortunately, we live in a global economy and CDN companies have to compete for business both within our borders and outside. Canada is too small an economy to be self-sufficient. Most protectionist measures will result in CDN companies having higher costs and therefore be less competitive and eventually fail. Fact is either Canada needs to develop an economy based on goods and services that we can compete successfully with, or Canadians need to accept that lower wages, benefits and standard of living is in our future.
Canadian gov't is notoriously inefficient and large and therefore our taxes are higher. Anybody who currently lives in Ottawa can confirm that the Fed gov't has been on a 2 year hiring spree paying above average salaries and is killing the Ottawa job market for private companies.
Are you joking around or being serious - I can't tell? ;-) In the US Trump has promised to cut red-tape, reduce corporate taxes and regulation. If he could reduce gov't speeding proportionally while continuing to protect workers and the environment, he'd be a friggin super-hero! I think the US can achieve a bit of that promise, but Trump so far hasn't detailed the needed cuts and many of his proposed cuts will actually hurt the average working American and the environment. I really hope Mr Trump can pull it off with acceptable compromises, but US politics is a dirty business.
Of course RIBC is free to outsource, even if they made $10 billion in profit last year.
Just as customers are free to take their business elsewhere.
And my experience has been the exact opposite. I have had to redo much of the work our Indian contractors have done because they turn out trash.
To make matters worse the Indian contractor while fine with following instruction, they rarely think for themselves.
Working with them is a real challenge as many are barely understandable. Often they can't even understand one another due to differences in their native languages and their poor skills in spoken English.
Lower level management has an enormous problem with retraining do to turn over. Upper management doesn't care because it still looks cheaper on paper.
Frankly I hope the companies doing this garbage have their systems crash and burn some day.
It ain't going to happen as long as services remain cheap to the customer. Rarely do they know what is going on behind the scenes anyay.
Same with call centres here. Ever tried talking to someone at TransUnion or Equifax for example.
I thought it was that way in Canada? I remember years ago when I had to cross the border into CA to do engineering work for a client, the first couple of times I went I made the grave mistake of telling immigration I was there to work. I was given the 3rd degree. Being asked all kinds of questions for nearly an hour. After that I got smart and shipped my tools up ahead of me and told immigration I was there on vacation.
Oh my god. I had to call one of those companies to unlock my credit. I could not make the person understand the information that had on me was wrong. All they could do was follow their script. Even the supervisor was a moron. Another instance where Indians can't think on their feet. I have had trouble with on shore call centers here but most times people are surprisingly (for how little they must be paid) knowledgeable about their product and your problem . If you do get an idiot from time to time, you can always ask for a supervisor and they can almost always help you.
Files containing wrong info is fairly common. I actually complained to American Express and Scotiabank that they should refuse to pay these companies until their record keeping greatly improves. I actually got AMEX and Scotiabank to coyly agree that they received similar complaints from other customers. You got to be assertive.
Well said gents.
But it adds insult to injury that our banks, which are protected from having more competition in Canada, enjoy oligopolistic positions to reap billions of dollars in profits, yet they STILL have to outsource? Fuck off!
O
OnTheWayOut
Oh for fuck sakes, how in the world can you presume to know the age of CIBC shareholders? Unless your "Canadians hoping to retire" is meant to be almost everyone who has shares?
Promo says you provide links for all your outrageous claims, I'm sure you have one for this claim?
the offshore workers don't know their ass from a hole in the ground - they perform most tasks inaccurately and have no sense of commitment (fly by night employees)
Probably every pension fund in this country has large holdings in our banks and I imagine also the CPP so you could say everybody in the country benefits from our profitable banks.
https://quote.morningstar.ca/Quicktakes/owners/MajorShareholders.aspx?t=CM®ion=CAN&culture=en-CA
All mutual funds held primarily in retirement savings accounts.
I await your apology.
I await your apology as well.
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OnTheWayOut
OMG, the sky is falling. fuji actually produced a link. I have to say this is the first time I remember that you have done so when asked. Accept my apology sir. Let's hope this is the start of a trend.
