Wachovia in NC to Send Jobs to India - $1 Billion in Savings

This was posted at http://www.greensboro101.com/newswire/display/17418/index.php

Wachovia Seeks $1Billion Job Cuts - Shift Jobs to India

Word is this - Wachovia Bank Corporation wants to save $1 Billion this year. The plan is to send an awful lot of jobs to India....

Wachovia Bank is headquartered in Charlotte North Carolina. This large banking corporation was overtaken by another bank, First Union, a few years back.

Wachovia plans to see how many US jobs can be outsourced directly to India.

The prospective Indian employees will make about $6,000.00 a year in salary.

Right now, Wachovia employees are being sent to training classes to teach them about the culture and religion of their potential replacements.

Additionally, current Wachovia employees will have to take personality tests (again) perhaps to see if they will passively accept their new fate.

Wachovia is quite smug about downsizing folks and having them train their competition -

Prior to another major downsizing a few years ago, employees were forced to attend "Who Move My Cheese" classes. Talk about rubbing it in.

Wachovia knows how to pick "outsourcing" counselors too - imagine you are making $20-30K a year, and the counselor tells you - Oh, just don't buy that boat you were thinking about getting." Right...

Anyway, back to what the job shift to India and what it will mean for CUSTOMERS - your private information will be viewable by the employees in India, who are not subject to any of the laws of the United States.

Your social security number, your account summary, everything - will be viewed overseas.

Meanwhile, current handling of accounts by US employees are subject to strict confidentiality laws.

You don't mind having contractors from a foreign country accessing your bank account, do you?

JUST HOW MANY JOBS WILL WACHOVIA HAVE TO CUT in order to achieve a $1 Billion in savings in 1 year???

Who will have any money left to put in banks when the majority of jobs are sent to India?

http://www.greensboro101.com/newswire/display/17418/index.php

anyway....will join the local CU instead.

This outsourcing is wrong on so many levels.If you hit the link you can rate and comment on the article.