Company Has Lost Its Way – Outsourcing(India), Layoffs, and Declining Culture - IT Department PENFED Credit Union Employee Review

- Over the last few years, PenFed has quietly shifted its priorities away from employee welfare and member service in favor of cost-cutting through offshore outsourcing. - U.S.-based roles are being outsourced to India, primarily through a partnership with HCL Technologies. Employees are often asked to train their replacements, only to be let go once knowledge transfer is complete. - The IT department has undergone the most drastic change. Much of the staff has been replaced by contractors from HCL Technologies, an India-based outsourcing firm. Employees were not offered roles with HCL or any path to continue employment after their contracts ended. - The outsourcing push was initiated under former CIO Joe Thomas, who has known ties to HCL. His replacement, Jetish, lacks accountability and often deflects blame rather than offering real leadership or solutions.. - Even at the highest levels, leadership appears disengaged. CEO James Schenck occasionally visits headquarters but makes no effort to greet or acknowledge the employees who work hard every day. He walks through the building with his entourage in tow, ignoring the very people who helped build the company - The culture has eroded significantly — transparency is gone, morale is low, and many long-time employees no longer recognize the organization they once took pride in. - Despite the branding and marketing that emphasize community, service, and supporting veterans, the internal reality tells a much different story. Cost-cutting and offshoring have taken priority over people and values.