Seems pretty clear what TTT is on about.
Baks have been cutting corners by sacking Western workers, particularly in IT, and outsourcing to other countries. Often thes companies hire third rate personal or a load of grads.
I know this because I was heavily involved with a couple of them doing this. One I was the contract manager for outsourcing. When I introduced face to face (via video) interviews there was quite a resistance (there was also a reluctance to let me interview) but it really made the difference.
The big problem is not so much with the outsourced company as the BAnks managers who dont really care about anything other than bottom line. Except when something goes wrong then they will find a junior Western person to heap it all on.
As I once famously said at a Management meeting after a failed project "I see we have completed the headless chicken phase and are now moving onto the witch-hunt phase". And not it did not go down well.