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Email this8:35 am
November 8, 2009
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It seems Royal bank is not making enough profit? They have to cut Canadian jobs and sneak in foreign temps to squeeze the bottom line? Poor RBC, must be really hard times there? This smells very bad.
Another bunch of Canucks go to the unemployment line.
"Dozens of employees at Canada’s largest bank are losing their jobs to temporary foreign workers, who are in Canada to take over the work of their department.
“They are being brought in from India, and I am wondering how they got work visas,” said Dave Moreau, one of the employees affected by the move. “The new people are in our offices and we are training them to do our jobs. That adds insult to injury.”
Moreau, who works in IT systems support, said he is one of 50 employees who facilitate various transactions for RBC Investor Services in Toronto, which serves the bank’s biggest and wealthiest institutional clients."
10:03 am
February 22, 2013
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I feel badly for the RBC IT workers as change has happened to them and they don't understand "why me, why now".
My job was "out-sourced" in 1997 and I was hired by the outsourcer to do my own job, at less pay, and for more hours. After 6 months found a new job. The new company was stable and growing for a few years but them was sold three times in five years and each time it was sold my department was down-sized, till finally they got to me in 2007. I had worked a lot of overtime over the past twenty years -- and had paid off my mortgage, and then banked and invested the rest of those o/t payments.
I tell friends and family that I was "too old, and too highly paid" by the time "they got to me".
When I "was retired" I went through a program to help me find a new job and found myself with lots of folks my age, who had little or no savings, and who simply had to work. After a few months of losing job opportunities to people half my age who were willing to work for half mty previous salary, I decided I actually "had retired", but hadn't realized it.
As hard as it is to accept, IT has changed and will continue to change. The IT folks I worked with either accepted the need to change and re-invented themselves every few quarters (yes, quarters) or denied the need to change and, like me, got caught in the changing times.
When I was 40 my father said I would be lucky to work to 55. I thought he was crazy. I made it to 57.
Greg
10:36 am
February 17, 2013
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Welcome to the Global Economy and the race to the bottom. Just one more reason not to use humungous bank. I wonder who these companies expect to buy and or use their products and services when everyone is laid off because their jobs are "relocated" to a third world country with little or no worker rights, quality control, or security. Reminds me of the joke about the container of lead from China being refused at the border. Turns out it was contaminated with toys. The rich get richer. 
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