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Whilst they were quick tro deny offshoring was the issues the real crux is that this is old application software they are running and this has not happened in the past.

They also had a large UK array for IT staff, they do not now as they outsourced them.

From many many sources of ex and non-IT staff at the aforementioned bank have all said this type of failure should not of gone on for as long as it has and there is no explanation beyond incompetant IT staff being at fault.

Draw your own conclusion but it's like this. Just becasue your building has not caught fire is no reason to replace reliable/known to work fire extinguisher with a cheaper model that looks the part.

Dont get me wrong, I'm sure IT staff in outsourced countries are great, but you just can't buy in years of experience and local knownledge of how the IT infrastructure evolved and why and what its nuiances are.

Moral being - when you have a bunch of staff who mess up there job and casue the company to lose money - REPLACE THEM and not the IT staff who have been doing there job just fine.

Also when your offering out volintary redundancies please remember that it is the competant staff who know what they are doing and can easily get another job that will take you up on the option rather than work in a job that is being pissed upon by others mistakes.

It is what is not being made public about this whole mess that is more worrying, but lets see what happens and what is admitted too.