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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: 2) by legont on Wednesday July 05 2017, @09:59PM
A friendly HR girl was leaving my place of employment the other day. She run a "diversity report" for our enjoyment. I guess it was her way to say goodbye.
Anyway, 80% of our "international" American based IT with multi-billion budget were Indians, around 10% Chinese and the rest shared between other "protected groups" and yours truly white straight male of European origin. No "native" Americans around to speak of.
Keeps me wonder how log till the next gas chamber moment arrives...
"Wealth is the relentless enemy of understanding" - John Kenneth Galbraith.