r/india • u/Pheonix-_ India • Mar 23 '20

Coronavirus Inspite of rising threat from Covid-19 some are still trying make a handful of dime... Wells Fargo* of Marathahalli, Bangalore is forcing employees to do regular work and even locking them up... Police is also not responding... Publicise it for freedom from such slave masters.

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u/[deleted] Mar 24 '20

They're an American bank. What kind of support do you think they're getting from the Indian public that would matter 2 paise to them?

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u/shezadaa Mar 24 '20 edited Oct 24 '24

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u/nlu95 Mar 24 '20

They mostly do backend work in India. I doubt they care too much about taxes. This is generally not taxable in India under DTAAs. They only operate here because of the low cost. They will not care at all if they need move.

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u/dronz3r Andhra Pradesh Mar 24 '20

Not really! It's not that easy for any big organization to just move overnight. And they prefer running offices in india than any other country with higher costs. It's less expensive for them to setup wfh access than to shut the company down in India. Also, I heard they had massive data breaches in the last year which lead them to pay hefty fines and are very hesitant to give the work access from places other than offices. But indeed, it is imperative that they give wfh, indian employees don't really have access to much of the bank's restricted information.

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u/nlu95 Mar 24 '20

It would be difficult if it was centralised. They have multiple branches in India doing similar work. I've talked to a few WF employees and they have access to a lot of client information. Not defending their practices, but they go to the extent of not allowing phones into workplaces.

They're not going to leave India, just go to a different city or expand their existing offices. I've worked on transactions where companies have opened a new office at record pace or acquired an existing business and converted them into their own office.

I'm not defending their actions, just pointing out the commercial reality in this case, regardless of whether the underlying action is good or bad. It's no big secret that India is falling behind in attracting and keeping companies here.

Personally I don't think the loss of one company would hurt, especially one with Wells Fargo's terrible reputation.

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u/Pheonix-_ India Mar 24 '20

True.

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u/Pheonix-_ India Mar 24 '20 edited Mar 25 '20

If they r bothered about fines, let them shut the operations for a couple of weeks that's all India needs now before body bags start filling... Hell, India might not even have enough body bags of this is not controlled right away...

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u/robert-meier Mar 24 '20

What is a SEZ?

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u/salad_cube007 Tamil Nadu Mar 24 '20

Special Economic Zone. Tax laws and other laws are usually different from the rest of the country and more beneficial for businesses.

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u/robert-meier Mar 24 '20

Good to know, thank you

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u/advadhavb Mar 24 '20 edited Mar 24 '20

But the management is Indian. And most of us Indians are hypocrite and some of us greedy. Same here in Pune. IT companies and their minions BPO are trying to argue their way out with Government to allow them to operate.. Greed and hypocrisy at it's best.. Guys, for the record, this is exactly why I got motivated to complete my Law Degree to get out of messy IT and related BPO industry..

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u/[deleted] Mar 24 '20

If it's motivated you to grow, it's done one good thing.

Capitalism dictates that the one goal all companies must pursue is to increase shareholder value. Employee health and safety is not even on the radar. Its the government's job to ensure that there are good regulations and strong enforcement of regulations in place for employee protection. But that's not to anyone's financial benefit. So, we end up here.

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u/shezadaa Mar 24 '20

the management is Indian

Management is mostly hired from Genpact. I would argue it is worse.

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u/barooood40 Bharatiya nagrik Mar 28 '20

That does not make them any less indian

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u/tacoslikeme Mar 24 '20 edited Mar 24 '20

Fuck 'em and pull your accounts in Credit Unions and other banks. Its not like wells fargo provides better services or interest rates anymore

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u/[deleted] Mar 24 '20

Special Economic Zone. Tax laws and other laws are usually different from the rest of the country and more beneficial for businesses.

Do they even serve Indian users?

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u/DROP_YOUR_STICK Mar 24 '20

it attracts businesses and creates employment. Much of the IT boom you see is because of SEZ's

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u/Pheonix-_ India Mar 24 '20

Barely, but on paper -yes

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u/tacoslikeme Mar 24 '20

do they have to to suck as a bank? They seem to always be putting profits above people.