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RBC Boycott has gone viral with Facebook and twitter.

RBC-Bank It’s official.  Canadians are outraged over RBC replacing Canadian workers with foreign workers. The story broke this weekend from CBC and it’s not going away anytime soon.greedy banker

Over 5,000 comments were posted before the comments section was closed.   And now a Facebook page called ‘Boycott Royal Bank of Canada” and several twitter hashtags have popped up creating quite a buzz amongst Canadians.

RBC executives are trying to put a positive spin by saying they are trying to ‘redeploy the affected employees’.  Come on RBC, we all know what’s happening.  So let’s be very clear.  RBC is replacing current Canadian jobs with cheaper foreign labor.   The current jobs are being shipped overseas to India where labor is less expensive.   End result is a higher net profit for the RBC shareholder.   I guess 2012’s record $7billion profit just isn’t enough!

NOW FOR THE SHOCKING NEWS… This isn’t anything new.   TD Canada Trust, Bank of Montreal and CIBC have been doing this for years.  That’s right.  Your favorite Canadian Banks have employed cheap labor to save a buck!   And they’ve done it very quietly, with almost no media coverage.

Does this change your opinion of your Bank?  Will you shake your head in disgust for a moment and then go about your daily routine? Here’s some food for thought…   One of my closest personal friends is a very loyal Canadian…  His company employs a call centre to service their millions of clients… He’s proud of the fact that his call centre is situated in Canada and that he’s employing hundreds of Canadians…

This guy is all about supporting local businesses and buying Canadian products…  He’ll only buy domestic cars.. domestic clothes, beverages, etc…  But he’s been banking with one of the major Banks I listed above for over 30 years.. since he was a kid…!  I wonder if he’s gonna change Banks?

I COULDN’T SAY IT ANY BETTER (here’s a great comment that I found in the Huffington Post) ……..  “First they came… First they came for the IT jobs, and I didn’t speak out because I wasn’t in I.T. Then they came for the accounting jobs, and I didn’t speak out because I wasn’t in accounting. Then they came for the finance jobs, and I didn’t speak out because I wasn’t in finance. Then they came for MY job, but there was no one left to speak for me…”

Your best interest is my only interest.   I reply to all questions and I welcome your comments.  Like this article?  Share with a friend.

Steve Garganis 416 224 0114 steve@mortgagenow.ca

Steve Garganis View All

As an industry insider, Steve will share info that the BANKS don't want you to know. Steve has appeared on TV's Global Morning News, CBC's "Our Toronto" and The Real Life TV show. He's also been quoted in several newspapers such as the Globe and Mail, The Toronto Star, The Vancouver Sun, The Star Phoenix, etc.

2 thoughts on “RBC Boycott has gone viral with Facebook and twitter. Leave a comment

  1. Your article doesn’t present a viable alternative to banking with the BIG SIX. Really, that is the way we vote – is with our money. So if I want to pull out all of my money and investments – where are some viable alternatives that are loyal to Canada. Credit unions? Which ones. Do we know what their practices are for sure?

    • Good question Jeremy… credit unions seem to have gained some market share over all of this… Banks are making record profits… 5 of the top 8 most profitable corps in Canada are Banks… and yet they want to push workers out to make a little more…!! Maybe it would be different if we had a struggling industry trying to compete.. but that’s not what’s happening… This just doesn’t sit right with me… and I think it doesn’t sit well with a large number of Canadians…

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