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Royal Bank releases supplier code of conduct after outsourcing backlash
TORONTO – The Royal Bank (TSX:RY) is making a formal commitment that it won’t send work offshore just to save on salaries.
The bank faced fierce backlash earlier this year over an outsourcing arrangement with a supplier that used temporary foreign workers.
The Royal Bank says it will only offshore work to suppliers when their scale, technology or knowledge provides capabilities the bank cannot duplicate.
The bank also released a supplier code of conduct.
The code says the banks suppliers adhere to human rights, labour and employment standards legislation.
It also says suppliers must not hire foreign workers from outside of Canada, when performing services on behalf of RBC, when a worker eligible to work in Canada is available.
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