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3 Yrs After Being Bailed Out, BoA Ships US Jobs Overseas?

~ The Rebel ~ 2012/06/01 02:45:16

Bank of America, which last fall announced plans to lay off 30,000 workers, is about to go on a hiring spree—overseas.

America's second-largest bank is relocating its business-support operations to the Philippines, according to a high-ranking Filipino government official recently quoted in the Filipino press. The move, which includes a portion of the bank's customer service unit, comes less than three years after Bank of America received a $45 billion federal bailout.

Roman Romulo, deputy majority leader of the Philippine House of Representatives, bragged to the Manila Standard Today earlier this month that the Philippines "has secured its place as the world's fastest-growing outsourcing hub." Romulo pointed out that BofA is the last of the "big four" US banks to move their business-support network to his island nation, where the average family makes $4,700 a year.

Read More: http://www.motherjones.com/politics/2012/05/bank-o...

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Opinions

  • Waldorf 2012/06/01 13:14:31
    Waldorf
    +1
    I'm now seeing percentage charges per transaction for online banking with B of A. It's time for us to part ways. Last year it was a new monthly maintenance charge.
  • Christy 2012/06/01 03:17:30
    Christy
    +1
    Can't say I'm surprised. BoA sucks.

    surprised boa sucks
  • Stoner 2012/06/01 03:14:10
    Stoner
    +2
    take money out of all banks and dont let the door hit them in the butt when they all leave...then American people will be able to make there own choice instead of it being bought for them if they like it or not
  • Jeff Smith 2012/06/01 03:08:46
    Jeff Smith
    Good for them they suck anyway
  • Roger47 2012/06/01 03:05:50
    Roger47
    Banks owe it to their shareholders to maximize profits, so they have a duty to ship American jobs overseas if it makes costs lower. What are you, a socialist, to criticize them for this? Economic freedom for Corporations is what makes America great. Thank God for Mitt Romney and the Republican Party. They support freedom!
  • ~ The Rebel ~ 2012/06/01 02:46:45
    ~ The Rebel ~
    +1
    The bank's outsourcing comes amid rising concerns about the security of customers' financial data in the hands of foreign contractors. In March, undercover reporters for England's Sunday Times met in India with "IT consultants" who claimed they were call center workers and offered to sell them credit card and medical information for 500,000 Britons—including account holders at major banks such as HSBC.

    http://www.motherjones.com/po...

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