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One of the big Swiss banks, Credit Suiss, has just informed 58 of it's IT specialists that they are now employed by an Indian company. If they don't want to work for HCL Technologies, then they no longer have jobs. This takes effect at the end of this month.
I'm not even sure this is legal - Switzerland normally requires a minimum of 3 months notice. Probably the CS lawyers have found some loophole or other, like "selling" a whole department or something.
The bank has stated that the employees will receive HCL contracts for "at least 12 months". Which probably also means "at most" 12 months, because no Indian company wants expensive Westerners on its books any longer than necessary.
Of course, CS is a really good bank if you're in top management. Top management rakes in the bonuses, no matter how poorly the bank performs.
[ Originally reported by TagesAnzeiger (German), which stated the number of employees impacted as 100. -Ed.]
(Score: 3, Informative) by PartTimeZombie on Tuesday July 04 2017, @09:28PM (6 children)
If you had RTFA you would see that these jobs are to be kept in Zurich for the next 12 months.
These IT people will be Swiss, and have a job for the next year, giving them plenty of time to find another job.
As the comment above stated, there will be plenty of phone calls along the lines of "How does this work?" and "could you come back for a couple of weeks to help with this?"
I'm not sure CS have thought this through. (Aside from the obvious cost savings).
(Score: 2) by LoRdTAW on Tuesday July 04 2017, @09:46PM (2 children)
Doesn't matter if they were given a year or a day. They are still out of a job and those jobs are now permanently removed from the Swiss economy. Fuck those greedy cunts at the top.
(Score: 0) by Anonymous Coward on Tuesday July 04 2017, @10:00PM (1 child)
If they find a job again, it's not likely to be a tech job. If they don't find a job again, they'll be wishing they voted for basic income.
In 2013, eight million 5-cent coins (one per inhabitant) were dumped on the Bundesplatz to support the popular initiative for a basic income. [wikimedia.org]
In 2016, a referendum was held and 76.9% voted against basic income.
Switzerland is a rich asshole country full of rich assholes who believe poverty is for other people.
(Score: 2) by kaszz on Wednesday July 05 2017, @12:26AM
Don't find another job. Make one and put the asshole company into Chapter 11.
Because now they are staffed with "me very good, what is your problem? I fix everything good.". And will not be agile enough to deal with it.
(Score: 3, Insightful) by hemocyanin on Wednesday July 05 2017, @02:43AM (1 child)
Repeat several hundred times and there will be no jobs left for those former workers to get.
(Score: 1, Funny) by Anonymous Coward on Wednesday July 05 2017, @03:07AM
That means The Onion, in the end, prove to have been telling the truth all along: https://www.youtube.com/watch?v=rYaZ57Bn4pQ [youtube.com]
(Score: 0) by Anonymous Coward on Wednesday July 05 2017, @04:02AM
Why sure...of course I'll tell thee how it works, my 'per call' fees are $10000 initial consultation, and $1000 per hour....
(or, just a plain FOAD, professional? No, satisfactory? Ehhh, maybe....)