Showing posts with label royal bank of canada. Show all posts
Showing posts with label royal bank of canada. Show all posts

Monday, April 15, 2013

On Insincere Apologies

I'll probably have more to write later, but for now, here are some always reliable insights by Star readers on the 'apology' from RBC CEO Gord Nixon:

Royal Bank chief executive makes public apology, April 11

An open letter to RBC President and CEO Gord Nixon:

Don't outsource jobs at your Canadian operations at the expense of your Canadian employees. That's the message we RBC customers want you to get and act upon. Your Canadian customers and shareholders are the ones who made your bank rich enough to expand around the world. Show us and your loyal hard-working employees some respect by not jumping at every strategy to enhance your profits even further. It's not like the bank is strapped for cash. How much is enough for you?

John Bruce, Niagara Falls, Ont.

Businesses have a right to find ways to reduce operating costs, and if it means lowering labour costs, so be it. However, displacing local workers and shifting them onto the ranks of the unemployed will increase the number of recipients and the cost related to the EI benefits program. It is well known that governments in Canada have being gifting banks and many other corporations with all kinds of largesse at our expense. So perhaps now is the time for them to shoulder some of the responsibilities to support the resulting social and economic upheaval that their choices have caused. All levels of government should levy a hefty tax per job lost on those businesses that choose to farm out jobs.

Frank Arturi, Etobicoke

Why would anyone consider a formal apology from RBC acceptable when the jobs in question are still being outsourced? There is something morally wrong with a business model that financially rewards executives for taking good jobs away from Canadians under the guise of exceeding shareholder expectations. Outsourcing decisions to drive corporate profit and executive compensation come with a significant ongoing cost to our society.

Jean Binns, Burlington

Wednesday, April 10, 2013

More On RBC's Outsourcing From Star Readers

I have a busy morning ahead, so for now I take the liberty of reproducing two letters from this morning's Star that make some excellent points as to how to apportion blame for the outrageous corporate practice of outsourcing Canadian jobs, most apparent in the current RBC imbroglio. As well, if you have the time, check out this column by Heather Mallick, who writes on the same topic.

Royal Bank faces heat over foreign worker plan, April 8

The outsourcing by the Royal Bank of Canada of work done by Canadians to foreigners is the logical outcome of the Conservative government's policy of allowing temporary workers into Canada and generally supporting the large-corporation agenda put forth by the Canadian Council of Chief Executives and their ilk. The bankruptcy of these policies is brought into sharp relief when one of the most profitable corporations in Canada enhances its already huge profitability a little bit more at the expense of Canadian employment.

The government's Economic Action Plan should be retitled “Corporate Welfare Plan.” The government has no coherent approach to dealing with the twin job-reduction forces of globalization and technology, other than tax cutting, cost cutting and making Canada safe for corporations.

As for RBC, shame on you. Their stated defence for their action is the usual meaningless corporate blather about “reducing cost to reinvest in initiatives that enhance the customer experience.” Really? When did any of the large Canadian banks put customers ahead of profits?

John Simke, Toronto

RBC's decision to replace Canadian workers with foreign workers under the faulty new federal legislation is an affront to Canada and Canadian workers. Profits at all costs shows a disrespect to Canadian workers.

Since RBC is doing quite well financially, this move is troubling. With five unemployed workers in Toronto for every job, many of them low paid, this is a further slap in the face.

It is clear that RBC shows no moral responsibility to the country and its people, who made them rich. While the executives of this company make millions, they have lost touch with the rest of the population.

Joan Dolson, Toronto

Tuesday, April 9, 2013

Bad Corporate Behaviour Abounds

As fellow blogger LeDaro pointed out to me the other day in a comment on my post about the Royal Bank's outsourcing of jobs, such practices are common among all of our banks. Further research by the CBC has come up with ample evidence to verify LeDaro's observation. You can read the complete sad and ugly truth here.

H/t David Doorey

A Rogue's Gallery

Just two pictures, so perhaps not a real gallery, but I think the descriptor is accurate.

Monday, April 8, 2013

The Royal Bank Responds With An Attempt At Damage Control

Somehow, I don't think George Orwell would be too impressed by the RBC response to its public relations nightmare over the outsourcing of Canadian jobs:

Said Zabeen Hirji, RBC’s chief human resources officer:

“We recognize the impact of this situation on our employees and we continue to remain focused on assisting our employees through this transition. We are working diligently to find suitable roles for those affected and it is our hope over the next few months to transition them to other positions.”

My hope would be that RBC and the other banks making record profits immediately transition to a policy of employee retention instead of dismissal through outsourcing.

Now It All Makes Sense

RBC CEO Gord Nixon

I just knew there had to be a logical explanation. This explains that.

Sunday, April 7, 2013

The Royal Bank's Abasement of Its Employees

It may be helpful to remember the following video the next time you see an RBC ad portraying the bank as the solution to everyone's problems. Forty-five soon-to-be-former employees (after they have trained their replacements) would beg to differ with the characterization. I suspect if I had an account with RBC, I would be closing it very soon in protest.

H/t Kev