April 13, 2007

 

INDIA CLAIMS MORE S&P JOBS

 

“In a effort to eliminate redundancies [meaning that the work is already being done in India], today we [S&P] decided to subcontract the work currently being done by eleven (11) Guild-covered positions in Data Operations,” so said Michael Dreher, Managing Director-Equity Research.

 

The positions that are to be eliminated include:

 

·       Two (2) Financial Reporters

·       Two (2) Senior Copy Editors

·       Three (3) Statisticians

·       Four (4) Rewrite Reporters

Too Much Use of Subcontracting Language ole0.bmp

 

This is the second reduction-in-force in the unit since December 2006 (when eight Guild-represented jobs were targeted), and the third time - the new Contract was only inked in June 2006 - that the new subcontracting language, which requires the company to meet with the Guild and consider any alternatives the Guild may suggest to the subcontracting plan, has been implemented.

 

 The new language also provides for enhanced severance packages for any affected employees who desire to leave the company and greater job protections for those staffers who want to stay. The S&P staffers who are placed in Guild-represented jobs that pay less than their current salary will be “grandfathered” at their current salary.

 

Globalization vs. Outsourcing: Terms Synonymous?

 

Management is substituting the term “Globalization” in place of “Outsourcing or Offshoring”.  "It's not outsourcing, it's globalization." Now, globalization sounds more innocuous, doesn't it? Well, tell that to the people who are affected by the reduction-in-force. And if outsourcing continues at its current pace, this country will become a nation of no hope, no opportunity, and no dreams.

 

John Gillen, Senior Director of Workplace Initiatives, said, “Well, New York is a very expensive place to do business.” The implication is clear.

 

SEEKING VOLUNTEERS

 

If a Guild member in an affected classification is interested in leaving the company, contact Unit Chairperson Ed Fannon (3-3804) or Grievance Chairperson Randye Gilliam (3-3806) for a confidential evaluation of your particular situation. Any employee who would like to explore a severance package even if they don't hold one of the affected job titles should also contact Ed or Randy.  In the past, Human Resources personnel have worked with the Guild to move people around to save a job.

 

# # # # #

4/13/07