September 21, 2017

Royal Bank Replaces Canadian Staff With Foreign Workers

RBCHave you heard about the latest fiasco?  Dozens of employees at Canada’s largest bank are losing their jobs to temporary foreign workers.  They are  coming in through the ‘Temporary Foreign Worker Program’ through a company out of India called iGate which outsources temporary work visas.  Apparently, RBC has a contract with eGate to provide IT services and have been working closely together since 2005.  RBC spokesperson Rina Cortese said several foreign workers from iGate will be working in the bank’s Toronto offices until 2015.  By then, she said, most of the work will be transferred abroad, but a few of the foreigners will remain indefinitely.

Moreau, who works in RBC IT systems support, said that he was 1 of 50 employees who facilitate various transactions for RBC Investor Services in Toronto, which serves the bank’s biggest and wealthiest clients.  In February, RBC told Moreau and his colleagues 45 of their jobs with the regulatory and financial applications team would be terminated at the end of April.  A lot of these people are in their late 50’s or early 60’s and not quite ready for retirement and may be very difficult to find employment.  To add insult to injury, the RBC employees have to train the temporary foreign workers.

The federal office that approved iGate’s plans to bring in foreign workers states “We have recently learned of allegations that RBC could be replacing Canadian workers by contracting with iGate, which is filling some of the roles with temporary foreign workers.  If true, this situation is unacceptable.  The purpose of the Temporary Foreign Worker Program is to fill acute labour needs when Canadians are not available for the work required.  It was never intended as a means to bring in temporary foreign workers in order to replace already-employed Canadian workers.”

It is against federal rules for any company to bring foreign workers into Canada temporarily if it will put citizens out of work.  “You cannot displace Canadians to hire people from abroad,” said Immigration Minister Jason Kenney.

Isn’t it a sad state of affairs when the Banks make billions of dollars and to cut costs, they displace Canadian workers who have little or no chance of finding other employment.  According to Kathy Tomlinson at CBC News, Go Public, the other big Banks and large Corporations are doing the exact same thing!!

CBC News, Go Public April 6th, 2013.  To read full article: http://www.cbc.ca/news/canada/british-columbia/story/2013/04/05/bc-rbc-foreign-workers.html

Colleen Saunders is a 20 year veteran in the mortgage industry, serving Mississauga, Burlington, Oakville and Toronto and offering all mortgage related services such as 2nd mortgages, private mortgages and more.

To contact Colleen, please fill out the form on  www.mortgagesbycolleen.ca  or call 416-459-2406

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