The Royal Bank of Canada is the largest financial institution in Canada. So large, that the bank’s global operations employ more people than currently reside in Prince George, British Columbia (around 80,000).
Regrettably to the bank and their public image, a whistleblower recently unveiled a heinous scheme by the institution that represents more than 15 million clients worldwide.
Was it a bank failure?
A housing or subprime mortgage crisis?
No and no.
Over the past few weeks, the Canadian and UK media has been in an uproar about the outsourcing of “non-essential IT workers. 50 of them. These workers were affected by the bank’s outsourcing arrangement with a foreign company, which granted temporary work to the migrants.
In the past week, the Royal Bank of Canada has been mentioned more than 2,500 times across global television and radio outlets, and few of the mentions are positive.
In response, the Royal Bank of Canada has issued an apology for displacing Canadian workers.
Do you think the public response was too harsh? Or does the Canadian public hold banks to different standards?