HSBC to shed 595 IT jobs and close branches in Sheffield

[altus 540]

Looks like another tranche of their long term 'Move IT to cheaper countries' plan. 840 posts affected in total, 595 in Sheffield.

 

HSBC starts laying off 840 IT staff in UK

[Berberis 10]

Actioned by the same guy who did the same for RBS/Natwest just before all their tech problems.

[foxy lady 10]

Looks like another tranche of their long term 'Move IT to cheaper countries' plan. 840 posts affected in total, 595 in Sheffield.

 

HSBC starts laying off 840 IT staff in UK

 

Perhaps it is down to the level of hate being levelled at banks by some in the UK.

[iansheff 88]

Yes and to add insult to injury they are going to train the people who are taking their jobs.

[altus 540]

Perhaps it is down to the level of hate being levelled at banks by some in the UK.

 

No, it's part of a long term plan. Mergers over the years resulted in them having 7 separate IT systems globally. About 10 years ago they announced they were going to replace them all with a single system and shed lots of jobs in the process.

[ricgem2002 11]

Perhaps it is down to the level of hate being levelled at banks by some in the UK.

don't you just love it when some get it wrong

[crazyhorse 37]

I left school to do Computing Science at University back in the late 80's, with the promise that "there will always be a career in IT" ringing in my ears...

 

25 years later I am still employed in that sector, but would no longer recommend it as long term career for my own kids.

Even with (seemingly) valuable skills, there really is no future in it in this country, with the constant push to increase shareholder value by outsourcing to cheaper countries.

 

I have worked with lots of techies from India and Eastern Europe on big projects. They are good people and I can really appreciate the effort (and personal cost to their health and family life) involved in working through the night to get the solution delivered to time and budget.

Unfortunately cultural differences, language misunderstandings, geographical isolation from and general unfamiliarity with the target market, always result in a solution that does not actually meet the requirements.

And so it goes back and forth between the two countries, resulting in even more money for the conference call providers.

In my humble experience, it always works out more costly outsourcing than simply paying UK wages to UK staff...especially when the press find out.

 

Still the number of beans saved looks good on the Chief Technology Exec's CV and being the shallow, opportunistic, sociopaths they are, they never hang around long enough to pay the price for their short-sightedness.

In fact they usually get a promotion.

 

For what its worth...I try to do my bit swimming against the tide, by adding the offending company to my "list of companies to put the phone down on".

So on goes HSBC...nuts to them...

 

Funny thing is...when India/China become too expensive, the work will probably come back here

 

My advice to anyone deciding on their future career...don't listen to anyone, but your heart and do a course in Astrophysics, Engineering, 15th Century Art or whatever else picks your fancy. Don't ever chase the money and become a Management Consultant or equivalent...you will hate yourself in 20 years time and probably be divorced...and then it will be too late.

[dutch 68]

It is the same thing as the old slave trade several centuries ago only in reverse with the use of technology.

Now the jobs are taken to the slaves.

The intent and reason is exactly the same, get the job done cheap by hard working low cost labour.

[Bob Arctor 11]

Perhaps it is down to the level of hate being levelled at banks by some in the UK.

 

Oh for goodness sake

[MJ75 10]

Perhaps it is down to the level of hate being levelled at banks by some in the UK.

 

How completely clueless!!!

[Berberis 10]

Perhaps it is down to the level of hate being levelled at banks by some in the UK.

 

Its nothing to do with that.

 

IT is a cost to any business and as it makes no money directly for most businesses, its always going to be subject to cost cutting.

 

The thing is, RBS/Natwest did this a while back under the guidance of the same person who is doing the same to HSBC. RBS/Natwest are now frantically recruiting IT staff in the UK to plug its skills gap created by outsourcing a lot of their IT back end to places like India. This is a fools errand

[Bob Arctor 11]

Its nothing to do with that.

 

IT is a cost to any business and as it makes no money directly for most businesses, its always going to be subject to cost cutting.

 

The thing is, RBS/Natwest did this a while back under the guidance of the same person who is doing the same to HSBC. RBS/Natwest are now frantically recruiting IT staff in the UK to plug its skills gap created by outsourcing a lot of their IT back end to places like India. This is a fools errand

 

They should get themselves up to Sheffield. I believe they may find just the people.