Hall of Shame

This is a list of  companies that conduct their business in unethical and irresponsible manners.

I am currently compiling a list of names and examples of issues.

  • State Street Canada – A US bank,  with branches in several cities, among them Montreal. They have shifted a lot of the work done in Montreal  to India and laid off much of  their staff in Montreal citing “a reorganization”.To quote their website:Today, with 1,175 employees* throughout the country, we offer local investors a complete range of financial services across the investment spectrum, including investment servicing, investment research and trading, and investment management.
    When you work with State Street in Canada, you have access to the local market knowledge of our experienced professionals.”
    *in December 2011 – before laying off a lot of Canadian staff as those jobs moved to India  – obviously for a small fraction of the wages and benefits paid here.
    It’s interesting that today their website claims to have 1200 employees (as of December 2012). Hmmm… that’s 1175 minus however many were laid off in Canada plus maybe 2-33 times as many hired in India, right?

    I wonder, do their local clients know that? Do the federal and provincial governments know that? If it’s not outright illegal it’s at least highly unethical.  What happened to achieving this through attrition? I guess it wasn’t happening fast enough. For shame 🙁

  • Galerie du mariage – A recenly created Montreal company with what can only be described as a dubious purpose. They sell advertising of goods and services related to weddings, with a  promise of exclusive partnerships, none of which materialize. No refunds either. As for their stated sphere of activity it’s looking a lot like a fly-by-night operation. I have serious doubts they have organized a single wedding. So far they’ve not even corrected the typo in the footer of their site …. For shame 🙁
  • More to come….