British Banks to Hire 50,000 In India

British Banks to Hire 50,000 In India

www.zeenews.com

New delhi, April 23: British banking giant Barclays' plan to shift thousands of jobs to low-cost India is the latest in a series of such decisions by European and American banks that are expected to hire more than 50,000 professionals in the country over the next three years.

The combined headcount of ABN Amro and UK's Barclays PLC is set to expand by up to 10,000 employees in India following the 91 billion dollar takeover of the Dutch banking major.

Together with Barclays-ABN Amro, about a half a dozen foreign banks such as Citigroup, HSBC and Standard Chartered could hire over 50,0000 employees in India in the next three years. These would be across various operations, including back-end jobs, to be moved from high-cost developed countries.

Seeking to expand their presence in the world's second-fastest growing major economy and benefit from low-cost opportunities in IT enabled back-end operations, foreign banks are increasingly going bullish with their headcount expansion plans in India, an industry observer said.

(visit the link for the full news article)

While so many here hem and haw about illegal aliens and immigrants taking low-end blue collar jobs away from them, the corporate world silently and slowly outsources the jobs that do matter out of the country. Not only is this happening in Brittain it is also taking place and has been for some time now in the USA. Many time you have called places like Dell Computers, Microsoft or even AOL to be greeted by a foreign voice on the phone reading from scripted help-desk screens.

These companies are finding other positions can also be outsourced to foreign soil and are making the transition. I guess in a way these people complaining about illegal aliens taking away the jobs that pay low wages have a legitimate concern since perhaps they may be replaced one day by a low wage slave on foreign soil taking over their jobs....they may just need that apple-picking job after all once big corporations find they are replaceable.

At least with illegal aliens, your hard earned money that you spend on goods stays in your country, but with outsourcing, your dollars go and never come back again. Something to think about.




www.zeenews.com
(visit the link for the full news article)

The 50,000 figure includes American banks.

As the price of telecommunications drops, reliance on offshore backoffices in 3rd world countries, especially ones with a lot of English speakers, will increase. There is no way to prevent this from happening -- it's the free market in action.

I presume these will all be telephone and admin positions etc.
Can't stand it. I closed my UK account because I got fed up with dealing with children, machines, and anonymous voices. :bnghd:

Keep it under the matress.

So you are just psyched to protect the orange picking jobs, the dishwashers, the janitorial jobs at Mickey D's , the busboy jobs at local restaurants, but protecting jobs that will directly affect Americans, its just Free Trade. Well how about this: The same people they are replacing are also probably customers, so if they lay these people off, they won't be able to afford to buy their products.


People moan when illegals take no more then 10% of their earnings out of the country, yet here we have Corporations sending jobs out of the country where you will never see a penny of that money return into the economy. Thats something people should be psyched up about.

Corporate greed will snap back and bite them in the azz in the long run.
The money they save now will not be there in the future when this all trickles down.

If you're talking to me, I don't support open borders. I think all illegals should be deported as soon as possible. Automatic citizenship of persons born in the U.S. should also end.

Originally posted by nerbot
I presume these will all be telephone and admin positions etc.
Can't stand it. I closed my UK account because I got fed up with dealing with children, machines, and anonymous voices. :bnghd:

Keep it under the matress.

Well things are progressing. It used to be only certain jobs could be outsourced but India and other countries are finding ways around it. You will even find some back office jobs like the departments that handle your insurance and benefits now being outsourced as well as telephone type customer service and the like.

I think its scary these people claiming to be patriots of their respective countries worrying about illegal aliens who are in actuality helping to build our countries economically, yet worry nothing about outsourcing or spending biillions on bringing "Freedom" to someone halfway around the world. Yet they will complain because the child of an illegal alien benefits from their tax dollars when they are educated in a US or British public school. Makes no sense to me.

Sending jobs that arent economically feasible in the US to other low wage countries makes sense. Not only to the corporations but also to the local populace. It helps transfer all the stagnant and other menial tasks to mass labor nations and helps keep and attract high technology and specialized jobs in the country, saving money and also improving performance. Plus in the long run, it forces the local population to reach a much higher standard to sustain themselves, reforming society in the process.

Originally posted by IAF101
Sending jobs that arent economically feasible in the US to other low wage countries makes sense. Not only to the corporations but also to the local populace. It helps transfer all the stagnant and other menial tasks to mass labor nations and helps keep and attract high technology and specialized jobs in the country, saving money and also improving performance. Plus in the long run, it forces the local population to reach a much higher standard to sustain themselves, reforming society in the process.

I do not think I would consider a tech support/help desk person, web designers, database managers,programmers to be a menial laborer or a stagnated job. Like it says in the article, the companies are seeking to pay lower wages. This has nothing to do with improving our country but everything to do with expanding their profits at the expense of the people. Middle Aged people with families to feed shouldn't have to return back to school just to better themselves in order to feed their families when they are perfectly qualified for the jobs that are being outsourced to countries with cheap labor rates. It may be reforming their society but not ours. Have a look and see who some of the newly rich are , and you will see they include these Indian and Pakistani businessmen who open these enormous complexes for the purpose of foreign outsourcing.