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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: 4, Insightful) by Snotnose on Tuesday July 04 2017, @11:49PM (1 child)
Yeah, it's not the Indians. I've worked with hundreds of them over the years, most of them are nice, hardworking people trying to better their lives without screwing anyone over.
The problem is the Cxx's. Both the Americans who sell out the American engineers, and the Indians, who sell out the Indian engineers. The Cxx's goal is to maximize the bottom line, which usually means screwing anyone they can to make the next quarter's goals.
When the dust settled America realized it was saved by a porn star.
(Score: 3, Insightful) by hemocyanin on Wednesday July 05 2017, @02:41AM
Between destroying jobs and killing the workers left behind ( https://soylentnews.org/article.pl?sid=17/07/04/1159209 [soylentnews.org] ), they're the most highly compensated sociopaths around and almost fully insulated from any legal repercussion.