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Size of company: Large (More than 500 employees)

Industry: Bank, Insurance, Financial services

  • There is no future for technology professionals at Symcor. The CIO role has been eliminated and there is no one person running the IT department. There is no IT strategy, no resource strategy, no defined career path, and every decision is made based on cutting costs with no view to the future impact.

    The IT team has been cut from over 1200 people 3 short years ago to less than 400 people today. The delivery teams are run as separate shops with no roll up to a common leader, the CTO role makes decisions on approach with no accountability for delivery, and the team members believe the best thing that can happen is to have a severance package offered to them.

    It is virtually impossible to hire any IT team members from outside the company due to the current state above so the people willing to stay can do no wrong since they are needed to keep the place afloat. Selling off the US business, and employees are just waiting to see if the other lines of business will also be sold off or shut down next.

    Best advice for current technology employees - polish up the resume and look for other opportunities. There are many good companies and excellent jobs if you are willing to look around.

    Posted on 27 September 2011 by Rater #145 | Flag as inappropriate

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