Recently, Bank of America revealed it will be moving its call center outsourcing services to the Philippines.
In a still shaky economy, some American workers are feeling as if they have once again been left behind by Wall Street as BoA joins other “Too Big To Fail” banks in shipping call center jobs overseas to the Philippines – a country now touted as the most popular destination for outsourcing in the world. Some other U.S. banks that now have their call center outsourcing facilities in the Asia-Pacific region include JPMorgan Chase & Co., Citigroup Inc., and Wells Fargo (News - Alert) & Co.
“It’s bad enough that Big Banks’ irresponsible actions helped to cripple the global economy, devastate millions of homeowners and leave working Americans and taxpayers holding the bag,” said Ron Collins, chief of staff, Communications Workers of America (CWA (News - Alert)), in a statement.
Collins added that now, certain companies are doubling down on their profits-at-any-cost mindset. And again, American families, communities, and consumers will pay the price.
Currently, the Filipino government is putting the final touches on legislation that would require “public and private companies to protect the integrity and confidentiality of any personal information collected from their clients, in compliance with international privacy standards.”
“What does it say that the Filipino call center industry has already become the world’s leading location of off-shored call center jobs despite not having these basic protections already in place? With disturbing revelation after disturbing revelation of fraud against Americans committed from these international call centers, its past time that we demanded a new level of accountability over where companies are sending our personal financial information,” said Collins.
“The fact that none of the leading Wall Street banks apparently saw fit to wait until the Filipino call center industry adhered to basic privacy standards tells us all we need to know about the banks’ concern for Americans’ information and security,” he concluded.
Edited by Jamie Epstein