“Dozens of employees at Canada’s largest bank are losing their jobs to temporary foreign workers, who are in Canada to take over the work of their department”, reports Kathy Tomlinson, CBC News.
“They are being brought in from India, and I am wondering how they got work visas,” said Dave Moreau, one of the employees affected by the move. “The new people are in our offices and we are training them to do our jobs. That adds insult to injury.”, says Moreau, who works in IT systems support.
Kathy goes on to report, “In February, RBC told Moreau and his colleagues 45 of their jobs with the regulatory and financial applications team would be terminated at the end of April”.
At a time when our economy is posting big job losses and needs support, our single largest bank, RBC Royal Bank, is more interested in firing Canadian workers and replacing them with non-Canadian workers, does this make sense?
From a business perspective I guess this might make sense as the foreign workers may have similar skills sets, but more importantly and in all likelyhood, the foreign workers are paid much less. Lower your labour costs and become more profitable, but at what expense? What message is RBC sending?
Tell us your thoughts? Do you agree with RBC’s decision to replace Canadian workers with foreign workers?
RBC replaces Canadian staff with foreign workers By Kathy Tomlinson, CBC News
Canadians outraged by RBC foreign-worker outsourcing fiasco By Michael Babad, Globe and Mail
