Tuesday, March 10, 2009

Big bank moves jobs to India

JP Morgan, which bought Bear Stearns and WaMu.
clipped from crooksandliars.com

J.P. Morgan To Up India IT Outsourcing By 25%

Remember a couple of decades ago, when they told us if we all re-trained for IT jobs, we'd always have jobs? [insert ironic laugh here...] And just to add insult to injury, exactly how much of our bailout money are they using to make our jobs go away?

BANGALORE: The second-biggest bank of the US, JP Morgan Chase, which acquired Washington Mutual and Bear Stearns recently, will increase its outsourcing to India by 25% this year to nearly $400 million. It will also manage the integration of the acquired companies from India to bring down the cost of integrating different information technology (IT) systems.

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