March 15, 2019
Wells Fargo criticized for planned outsourcing to the Philippines, India
Wells Fargo said it would hire 7,000 more workers in the Philippines to add to its existing 4,000-strong workforce in the country. The announcement was made even as the company is facing scrutiny from US government officials regarding its move to bring jobs abroad. Following the company’s revelation last year to outsource thousands of jobs overseas, Wells Fargo chief executive Tim Sloan got a reprimand from congressmen in a hearing this week. About 25,600 employees at Wells Fargo stand to lose their jobs as the company implements massive outsourcing and offshoring of positions from its US offices, a measure which has gotten very negative attention from legislators. Back in 2017, 650 employees at the bank’s branches in Pennsylvania, South Carolina, and Washington were laid off. The congressional inquiry was made as such outsourcing practices have been heavily criticized by American workers.