RBC replaces Canadian staff with foreign workers, CBC, April 6, 2013
"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.
" '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.' ..."
If this style of business offends you and you are a customer of RBC, visit Vancity or a nearby credit union. They'll help you transfer your banking business and a year from now, you'll wonder why you didn't do it long ago. You'll get better banking services and the community will benefit economically.
Bravo,Norm! I'll be at the bank on Monday, cancelling my accounts & my credit card with them. They don't want Canadian workers, then obviously they don't want Canadian $$.
ReplyDeleteLet them know certainly but you don't even have to go there. Vancity has a service to help you make all the changes needed, like switching pre-authorized payments and automatic deposits etc. I imagine the other credit unions can do the same thing. My wife has dealt with RBC for at least 2 decades but nobody in her branch knows who she is. This foreign worker story pushed her over the edge and is planning to close RBC Monday.
DeleteI just closed my account. They asked why i said you make tons of profits and lay of Canadians that not good business. RBC lost $10.541.00 dollars today. Credit union on the way. My family and freind are doing the same. RBC Shame on you Canadians matter. To the CEO of RBC i will never bank with you ever again
DeleteI'm cancelling my RBC ACCOUNT
ReplyDeletehttp://www.cbc.ca/news/canada/british-columbia/story/2013/04/05/bc-rbc-foreign-workers.html
Me too
Deletehttps://www.facebook.com/BoycottRoyalBankOfCanada
ReplyDeleteYou've got to admire the big Canadian banks... they always find a way to make money. This new move takes the cake, though! I wish I was an account holder at RBC, so I could quit them.
ReplyDeleteYears ago, our teachers' local was banking with the Bank of Montreal and they were charging US for making deposits. We quickly switched to the local credit union, where we earned a slight bit of interest on our chequing account.
Motorcycle guy reminds of a song from Alice's Restaurant, the good-natured movie from the sixties, starring young Arlo Guthrie. (I loved that movie at the time but wonder how it holds up today.)
ReplyDelete"And three people do it, three, can you imagine, three people walking in
singin a bar of Alice's Restaurant and walking out. They may think it's an
organization. And can you, can you imagine fifty people a day,I said
fifty people a day walking in singin a bar of Alice's Restaurant and
walking out. And friends they may thinks it's a movement."
This will be a public relations disaster for RBC and it doesn't look too good on Kenney either.
ReplyDeletebtw, RBC CEO Gord Nixon made $12.6-million last year in salary, stock, and bonuses - a 25% increase from the year before.
RBC=Blood sucker!
DeleteWell we know that the banks got rich off the backs of lower paid jobs filled by women for decades now. Now they see an opportunity to even better that by importing bodies to exploit even more. So disgusting.
ReplyDeleteIt will take more than closing your accounts. You need to move your mortgage as that is where the profits really are in banking. Lending money.
I will be moving EVERYTHING out of RBC including the mortgage. This is disgusting.
ReplyDeleteSame thing is happening in health care. The government has had a temporary foreign worker program running in the Phillipines for a few years now. Specifically aimed at long term care workers and live-in caregivers. Our nursing homes are now full of these temporary foreign workers.
ReplyDeleteBy the way, Vancity is great. We were long-time RBC customers but gave up over 10 years ago for the same reason your wife did. Being a good and loyal customer meant nothing to RBC. Good call Norm.
I work with a BC health authority and would be interested in knowing more about
DeleteYep First thing I thought. Im moving everything this week. Unacceptable!
ReplyDeleteAlways amazes me the back room things that go on we would never know about if it wasn't for reporters and bloggers to spread the word. Good on you Norm for bringing this to our attention and good on CBC for covering it in the first place. We've been with RBC for a long time - and they know our name - but we will be making changes - and making sure they know why.
ReplyDeleteRBC $2.2 billion profit in 3rd quarter 2012:
ReplyDeletehttp://www.theglobeandmail.com/globe-investor/rbc-hikes-payout-posts-highest-ever-quarterly-profit-of-22-billion/article4509258/
quote:
"The profit, which is $946-million higher than in the same period a year ago, comes largely from its core Canadian consumer lending operations."
Meaning housing bubble mortgage ripoff.
if the minister is allowed to interfere with lowering mortgage rates, what is the excuse for not interfering here?!
ReplyDeleteRBC = Royal Bank of Calcutta
ReplyDeleteDon't close your account, just take all the money out and leave a few bucks in it. They will charge you to close your account, this way they will still have to maintain it and send you statements. At least get your pound of flesh from this thieving slugs.
ReplyDeleteI run two business, one in BC and the other in Alberta and deal with the Royal Bank. I will be giving them a lot of grief. I don't owe them any money and will be keeping my deposited amounts and savings to a minimum. I plan on using all their services until they ask me why(and they will) I am keeping larger balances in a different financial institution.
If you have any leverage at all use it to stick it up their ass.
By the way I believe this is all part of Harper's plan to make Canada into a third world Kleptocracy.
CGHZD
You 100% right.Let they maintain my $10.
DeleteI have dealt with Credit Unions for years. However, I am e-mailing everyone I know, to get their money the hell out of RBC.
ReplyDeleteHarper is bringing over, $800 per month, Chinese resource workers.
Now bringing over East Indians?
My son reminded me of Harper's speech regarding, Global Governance for Canada. Harper certainly is all for that
Harper's Omnibull-S-Bill gives China permission to sue any Canadians blocking Communist China's invasion of Canada. 300 BC miners applied for the 200 jobs, that were given to China. Chinese resource workers earn, $800 per month.
CSIS even warned of, China's huge intrusion into Canada. BC was specifically mentioned. Campbell sold BC out, to Red China long ago. People refused to listen to that too. Canadians are well known for, sleeping through absolutely everything. Harper counts on it.
Time for BC, to get the hell out of Harper's Canada. However. I am sure we will just sit here, as the fools we usually are, while our entire country is given away, by a total, dictator, tyrant of a monster.
Bully for those who can live on Chinese wages of $800 per month. Most Canadians can't.
What part of that don't people get?
Well Said. Wake Up Canada.
DeleteI moved my accounts to a big credit union more than a year ago from the Royal Bank. Glad I did too because my banking costs have gone down. Even my credit card interest rate was cut in half but they arranged a line of credit and the credit card gets paid automatically. Now Visa gets paid every month before their high interest rates even kick in.
ReplyDeleteWhoa Yeah! Fat's in the fire now.
ReplyDeleteI'm like G. Barry Stewart: wish I had an RBC account so I could shut it down over this issue. Sort of sad I already did that thirty years ago--also fired, over the years, almost every other chartered bank, TD, BMO, ICBC, etc...ended up with Scotiabank cuz they had a low-interest credit card (which I no longer use)...
but this latest thing's got me so disgusted think I'll fire them too, move everything over to my credit union---finally!
Thanks for the push.
The biography of Gordon M. Nixon, the CEO of RBC is quite chilling in the Rockefeller like PR spin on his co-chair duties with The Toronto Region Immigrant Employment Council, the Ontario Premier's Jobs and Prosperity Council, and other lofty sounding accomplishments, to present a facade of altruism to yet an other loathsome Economic Hitman.. There must be two Gordon M. Nixon's. Full biography available at http://www.rbc.com/newsroom/pdf/Profile-Nixon-June2012.pdf He made 11.9 Million last year.
ReplyDeleteNorm this has been going on for TWO to THREE YEARS!!!!(it has only now come to light because the higher paid I.T. people are complaining). i know. my girlfriend works in RBC business banking here in Toronto for many years. people going back and forth to India (iGate) training them and the like. functions that use to be done here in Toronto are no longer done in Canada but overseas. it would be absolutely ridiculous to suggest that Canadian jobs are not going overseas. they hide it through attrition and laying off the temp agency (Kelly) people that they swell their ranks with. full time or temps losing their jobs is still jobs going overseas. :) MADSADORGLAD twitter
ReplyDeleteVery troubling...if Canadian politicians are selling out Canada, isn't this what they call "economic subversion"? The next logical point of discussion is "economic treason". Global governance is another term for the wealthy elite controlling everything...this is setting a dangerous precident...
ReplyDeleteI have already called and cut up my RBC mastercard. Monday i will be shipping my money to another bank.Please check other banks if they are not using this practice. I will never go bak
ReplyDeleteI've only got a hundred bucks or so in my account but you can bet it's coming out pdq.
ReplyDeleteRBC is lying. They have been getting away with this since 2005. Whole departments have been let go and replaced by iGate. Hundreds of people have been laid off not just 45 as per the CBC News report. RBC also says they are helping the employees find jobs another lie. RBC has stayed out of the news far to long. I am grateful that David stepped it up and let the cat out of the bag, something I did not have the guts to do. RBC is run by GREED. When you see their Client First commercials, the client is not you or me, it is the shareholders.
ReplyDeleteSigned Former RBC employee
Send individual stories about RBC layoffs to: normanfarrell.ca@gmail.com
Delete.
I will send you an email sometime this week with some details. Much more to this story than what has hit the news.
DeleteCBC news said the govt is looking into it. Good.
ReplyDeleteHey! Olympics! Sochi is coming!!
I am an indian, And i am sorry for your loss!!! But i am with you on this movement... Stand tall CANADA>>>
ReplyDeleteI am Japanese living in canada. I am too with you Canada! RBC is CANADIAN BANK!!
DeleteI think we need to get organized and start boycotting all of the companies that do this; RBC is just the tip of the iceberg. Rogers and Bell do it, oil companies up north, all of the other banks (and the list goes on and on)... it is time we let our money talk for us. We have subsidized the banks billion dollar profits - time we start putting our money in socks and keeping it from the Canadian banks. We have been gouged with fees for this and fees for that all the same time they jack up lending rates and crawl back interest rates on our money they use to lend out to others again on the backs of our honest investment.
ReplyDeleteCanadians, it is time to stand up to all of these injustices. I think we need to take things in our hands and show the companies we expect more! Time for governments change laws - enforce laws and make sure businesses cannot hijack the Canadian way in the name of raping for profit. Time we make this all stop - who is with me?
I have a mortgage at RBC. I guess there is a penalty if you move a mortgage before it is up for renewal, isn't there?
ReplyDeleteDepends on the individual borrowing agreement. Sometimes, borrowers can save money by changing mortgages. Something to review with a person you trust who knows today's markets. That might be at a lending institution or at a mortgage broker. Be cautious though, ensure the people you deal with have good reputations.
DeleteCall your branch at RBC and politely ask what the policy is and explain the action you anticipate in light of their apparently illegal action. Then ask for a toll free number for head office and call them. They will be thrilled to answer your questions. Remember, they should be grateful to you for reporting this breach of Canadian laws.
DeleteI think we will have to get rid of the Conservatives if we want a government that will make and enforce laws that benefit ordinary citizens rather than corporations.
ReplyDeleteI'd put the federal Liberals on that same trash heap. They still have many insiders hoping for restoration of the good old days when corruption and self-dealing was merely business as usual.
DeleteSoooooooooo very glad to see that at least u don't let political partisanship cloud ur thinking like some people here.
DeleteIt will take a long time before the Liberal Party of Canada lives down Ad-Scam and other scandals and patronage embarrassments. There are too many of the same players still involved in the party or waiting on the sidelines to get re-involved. I don't believe that Liberals are dedicated to improving ethical behaviour in political life. Certainly the people in British Columbia who call themselves Liberals see ethics as bothersome details.
DeleteI have an RBC account that will be closed out this week. I will make sure my reasons are made clear to them and not look in the rear view mirror as I drive away. Waiting on this government to act on this will be more of my prescious time waisted. On this matter it is best to rely on ourselves.
ReplyDeleteTime for a revolution. Kick these greedoids and their enablers out and put in those will will look after the needs of the 99% and not the 1%.
ReplyDeleteThere was that CBC revelation about how the rich are using off shore tax havens to avoid taxes. Go after the rich, those that enable them [accountants, lawyers, advisers] and have the streets running red.
I hate using popular culture to prove anything, but there was a line in the movie "The Firm", "Go after the lawyers, without them organized crime can't succeed."
The Royal Bank isn't the only one who uses over seas workers. Other banks have already sent the work to other countries. Its just RBC got caught because the company they contracted with brought in workers. Yes, that is RBC's out, they didn't bring the workers in, iGATE did! These banks make billions in profits, hve had great tax deals from various federal governments and they still can't make enough money. No they want even more profits so they ship the jobs over seas.
ReplyDeleteWe have only to look at Telus. Their president, Darren Enthwisle, made $11M last yr but the company has its call centres in Asia. Those used to be Canadian jobs. Telus wanted bigger profits so now those jobs are in Asia and Canadians are unemployed.
The federal Conservatives may be sprewing out about how they have "tightened" foreign worker visa systems but at the same time they passed legislation which permits Canadian companies to pay foreign "temporary workers" 15% less than Canadian workers.
If Canadian companies are going to send jobs overseas and bring in foreign workers then the government should ensure they pay a higher rate of income tax than other corporations.
With our banking IT systems being worked on in foreign countries how secure are our accounts? How is the information being used? Who gets to access it? How is our privacy being protected? It certainly won't be subjected to Canadian laws.
Canadians need to make it very clear to the Harper Cons, jobs need to stay in Canada. If we need "temporary workers" for more than 4 months, the workers get to come as landed immigrants. Much of this "temporary visa" shit is just to avoid paying decent salaries and having the workers unionize.
Start banking with your local credit union and forget about the banks because the banks have sure forgotten about Canadian workers. They don't pay taxes at the rate workers do. They charge excessively on the bank charges and interest rates on credit cards. The Harper Cons just make it easier for them. We have Harper running around wanting more free trade agreements with any dictatorship willing to sign.
With another 50 thousand jobs lost in Canada last month, we don't need the Royal Bank bringing in foreign workers and we don't need the banks and Telus sending Canadian jobs overseas.
Well Royal Bank it seems You will NOT get Mortgage for my New House
ReplyDeleteWow! 41 comments and counting. Sounds like this is a real sore in Canadian's backsides, like robo-calls. I expect to see news reports this week of masses of account holders at the RBC jamming their local branches to close everything and say so long. Woot! Woot! I love it when Canadians come together for a common cause that helps them.
ReplyDeleteI think I will also go to the RBC in the morning to ask the bank manager about their hiring practices before I hand him my credit card and empty my account
ReplyDeleteMaybe sing a few bars of Alice's Restaurant while I'm there.
Maybe you could hook up with Motorcycleguy and take along a choir for the song from Alice's Restaurant.
DeleteThese banks were also the very ones who complained about competition hurting them in the 1990s when ING was knocking at the banks doorstep. The made it difficult for foreign banks to compete here, accusing them of having no patriotic interest in Canada. If RBC wants to be unCanadian, then bring in the foreign banks and real competition, since foreign banks and RBC do not have Canadian interests at heart anyway. RBC can become a patriotic Canadian citizen or get out of town.
ReplyDeleteIt is 430am right now. At 9am sharp I will be at the door of my local RBC to close ALL of my accounts with them, so will my husband. We'll be joining the local Credit Union. :)
ReplyDeleteI hate, hate RBC. When researching the disposition of my grandmother's estate I found out through the Wills Registry that my grandmother had vested a copy of her will at RBC's West Vancouver branch. I contacted them to obtain a copy only to be ignored and then finally told that they didn't know who my grandmother was which given the value of the assets she had managed by them was complete bunk. I suspect some very dirty business at this branch, considering my aunt could only produce an unsigned will and refused to provide an accounting for the estate.
ReplyDeleteIf you have any assets worth passing on to the next generation, then I'd strongly advise you to avoid RBC like the plague.
Arleigh, check this out and see if it helps give you some ideas about what to do about how RBC handled your grandmother's estate:
Deletehttp://www.seniorsatrisk.org/2013/03/institutions-named-and-shamed-for-elder-abuse-a-last-resort-of-ombudsman-media/
It's not just RBC, and not just banks. Our governments are up to their ears in the trough when it comes to getting their mitts on people's estate.
they have my mortgage but when its due i'm moving
ReplyDeleteThanks for sharing this and I too am disgusted by this practice. All the banks do this and I have friends that are VP's of a bank - they have no employees and their sole job is outsourcing. RBC should be ashamed for playing the game, it's not me, it's iGate that is outsourcing. They know fully well what is going on. I wish there was a list of better options (like Credit Unions) to help find a new place to do business.
ReplyDeleteTell Anonoymous 11:56 I'm in for the choir....I'm all practiced up singing by recently changing from CIBC due to their less than ethical role in the BC Rail giveaway and their role in supporting AltaGas as corporate owners of IPP's in BC. I personally chose Coast Capital, they seemed to be the one of the least offensive with regard to unbalanced political involvement and have been very accommodating....I am sure many other credit unions are as well.....besides.... I've been told I have an uncanny resemblance to the monster in their TV ads.
ReplyDeleteI have not banked with RBC in a long time as i use a credit union, but lets be real this has been going on for so long its not just the banks like what about all the corner stores and all the fast food places. Im a proud canadian born and raised here and im sorry but this country looks less and less like canada all the time we are basically pimping out our homeland to other countries to make the rich people more rich. We all need to stand together for a cause or else nothing changes i hate to say it but the USA actually fights for there beliefs while people in canada complain and sit on there ass about it. So if we REALLY wanna make a difference then lets get the ball rolling and make something happen. Cause if you want something done you have to actually make an effort. We need a common person to get into government and fight for the working guy.
ReplyDeleteHave had an account at Coast Capital for a few years and now we're opening another at Van City next week to which we'll move our RBC accounts. Was going to do it anyway so this is just gives us a good reason to get it done sooner.
ReplyDeleteThe whole country is going too sh*t since Harper got power ! If we had money in RBC it would be coming out.If they are doing this my guess is other banks are too. Just haven't got caught yet. Anyway we will be moving all are money to a credit union. Getting sick of hearing about all the big banks profits in these hard times. GREED
ReplyDeletePeople need to speak up and react. There are so many things that people don't pay attention to. Some people are too busy wasting time on twitter etc over"stupid issues" like what star is drinking what beverage at the coffee shop, when real things are going on like this. I first heard this story on the Roy Green Show on CKNW yesterday, and started hunting for more info.
ReplyDelete$10.25 in today's market in BC is minimum wage, and this isn't 20 years ago where $10.25 was a good wage (when min wage was about $4.50 an hour) and all the prices were lowere too. Alot of the people who think these low wages are fine, are the ones making 6 or 7 figures. Anyone who can relate to working or living on low wages gets it - they get you can`t survive.
There are educated people who can do these jobs in Canada, Canadian Born or immigrant thru proper channels. This is BS that RBC can do this. They will say they can`t find canadian workers who will do the work. Yah, probably trying to pay min wage - same wage you get for something much less demanding at a diff job like a fast food restaurant (no offense to fast food workers); you have to pay a reasonable wage for the marketplace. PEople should move their money out of RBC; they should run to a vancity which keeps canadians employed (BC). This is what free entrerprise is, so RBC should get a taste of their own tactics! I don`t bank at RBC and I`m telling anyone I can that does or doesnt bank there to think hard!
I wanted to add something to an earlier comment: I live close to the border, and could go across and buy in the USA, but I dont because I understand the spinoff effect. If someone is going to protest this - the rbc thing - they should also put their money where their mouth is. There are people who work in canada themselves, but weekly run to the states to buy gas, groceries etc (instead of their local stores); assuming it makes sense (e.g not a 1 hour lineup eachway at border) they should be looking at what impact they are doing by not contributing tax dollars and dollars to the local economy. I know people who are "sitting pretty", they are in good jobs and have all the toys and don't care about the local economy. They travel to the states more often than their local store, because they want to save a few dollars. They don't get that the job they might be eliminating is their own kids, their neighbours kids' job, or maybe their own. They are too "Dumb" to see the big picture and only care about themselves. Kind of like what RBC is doing - only care about themselves (the higher ups).
ReplyDeletePeople need to look around and if you see the economy going to sH*t, then try and buy canadian, shop local (travel occassionally to states - thats fine), and realize that your roads, hospitals etc are paid for by buying here. if you dont want all the homeless on the street, buy here. there will always be some people who are homeless for various reasons, but if you want less troubled youth, support your economy so they need to hire people.
It's not so simple. As consumers we vote whenever we spend our money. I won't buy from a distributor of imported products who believes that just because their operation is Canadian, they can charge 20% to 400% more. I bought a $60 diamond hole saw in the USA because the same piece was priced over $200 in Vancouver tool shops. I bought a garbage disposal unit in USA for $110 because the appliance store in Vancouver asked over $400. I buy Canadian when I can but it must make sense too. To do otherwise is foolish and allows those distributors and manufacturers to keep charging more simply because Canadian are willing to pay higher prices.
DeleteFeds admit it approved request for foreign workers to replace RBC employees (Torstar News Service):
ReplyDeleteCritics said the exponential growth of migrant workers in Canada has become a trend than an exception.
“If their hand is caught dirty, they’d say it wasn’t me who signed the contract that ended up displacing Canadian workers who’re costing me too much,” said Karl Flecker of the Canadian Labour Congress.
Ottawa’s new policy last April to allow employers to pay foreign temp workers 15 per cent less than the prevailing wage simply offers an incentive for employers to replace Canadian workers with migrants, he added.
Now I see the sleazy side of the 'to big to fail' banks in Canada. Well we can make those assholes fail allright.
ReplyDeleteI'm moving my money out of B of M to Coast Capital this next weekend.
Everyone pulling out of RBC sounds good in theory, but if we all did that how many hundreds of tellers would be out of work as the result?
ReplyDeleteWhat tools do consumers have when they disapprove of corporate behaviour? If 100 people leave, RBC would feel no effect and make no changes. If 100,000 customers departed, they would pay attention. If 1,000,000 customers withdrew, RBC would change their policies and begin to recall responsibilities to their own home communities. Jobs lost at RBC would result in jobs gained at other institutions. If those were banks or credit unions dedicated to the Living Wage program, local economies would be better off.
ReplyDelete