#attrition

Colette Kress was at Cisco from late 2010 to September 2013. She was the
Senior vice president and chief financial officer of the Business Technology and Operations Finance organization.

This is what she got to experience during her time at Cisco:

July 2011 Eliminated 6,500 jobs, part of a major company restructuring
July 2012 Eliminated 1,300 jobs, citing global economic uncertainty
Aug 2013 Eliminated 4,000 jobs, equal to five percent of its workforce

I wonder if she got LR'd or left on her own? Probably on her own. Who would want to continue working at a company when there are constant layoffs?

I’ve noticed on my team under the umbrella of National Buying, every now and then, we hear that XYZ is no longer with the company, effective immediately, no further explanation. And then their role doesn’t get reposted. I don’t know if these people are being let go or if they are quitting and it’s effective immediately. But it is ominous. Thoughts? Insight?

Pulled from the bottom of this article: https://www.ccgcatalyst.com/thought-leadership/commentary/one-year-after-the-worst-day-what-fiservs-earnings-told-bankers/
Funny how they ignore employee attrition/layoffs for improvement and only concentrate on customer attrition in the analysis. Hmmm.

Our View: What Comes Next for Fiserv
Fiserv is no longer a vendor in freefall, but it is not yet a vendor in recovery. The quarter showed stabilization – guidance held, attrition improving, investment visible – and the strategy is finally coherent: fewer cores, common components, a smaller portfolio. What it has not shown is proof. For institutions on Premier, Precision, or Cleartouch, the direction now points toward CoreAdvance, and CoreAdvance itself is still being built in phases; negotiate which phases you are entitled to, and on what dates, in your next contract, while Fiserv needs retention wins. For DNA institutions, the call placed DNA among Fiserv’s leading client wins, but it still sits outside the CoreAdvance consolidation – get the investment commitment in writing. For banks evaluating Fiserv, this is a buyer’s market: a vendor rebuilding its sales motion will trade price, terms, and conversion support for a reference. Our test for the next 12 to 18 months: named CoreAdvance clients live on phases beyond infrastructure consolidation, attrition improvement appearing in reported banking revenue by late 2027, and divestitures that leave the bank-facing business intact.

My final comment: a year after the worst day, the most useful thing the crash taught the industry has nothing to do with Fiserv in particular. Every critical vendor – public, private equity-owned, or cooperative – has a financial condition, a strategy under revision, and an owner with options. The banks that handled last October calmly were not the ones with the best stock forecasts; they were the ones that already knew which risks they were carrying, had the contract language to match, and could answer their boards from their own files. Yesterday’s call was the best one Fiserv’s bank clients have heard in two years – attrition peaking, guidance held, investment visible, a named, $20 billion CoreAdvance go-live. Put it in the file next to the five questions, and ask the sixth one in writing: the call promised that common componentry will end the question of how many cores Fiserv has – so which componentry, on what dates, reaches the core your institution runs?

CCG Catalyst advises banks, credit unions, and fintech companies on core evaluation, vendor selection, and contract negotiation. If your institution is approaching a core decision, reach out to our team at www.ccgcatalyst.com.

See our latest announcement: CCG Catalyst’s Paul Schaus Named a 2026 Top Consultant by Consulting Magazine

By: Paul Schaus | Founder & Managing Partner, CCG Catalyst Consulting

How many are planning on leaving after bonus is paid?

Some of your best advisors remain in the seat for now, but attrition risk is at an all time high. Find a solution to keep your top talent happy, or risk further resignations.

Has anyone heard anything about EOG resources?

I’ve now seen 5 good people from Exxon leave for working at EOG and they have plenty of postings.

I wouldn't quit now for anything. We know more layoffs are coming, and it'll be big. Quitting now is like leaving money on the table. Why are so many doing it?

Outstanding performers resignations all at once - cited reasons: Toxic environment, confused on role, DEI over reach, Engine replacnent training, Chevron shrinking US and lastly from top person - ignorant people thinking meetings all day is work.
Looks like other comapanies are cherry picking the best. Personally I think chevron will merge with number 2 or 3.

Tracking participants count #general Slack channel in Oracle One workspace, as the fastest available proxy indication of ongoing layoffs.

FY 2027

• oct01-oct31: 2270 reductions, 785 additions, 142827 (-1485) end count
• sep02-sep30: 7022 reductions, 1137 additions, 144312 (-5885) end count
• aug01-sep01: 1899 reductions, 995 additions, 150197 (-904) end count
• jul01-jul31: 2975 reductions, 1736 additions, 151101 (-1239) end count
• jun01-jun30: 1723 reductions, 1299 additions, 152340 (-424) end count

FY 2026

• may01-may31: 2271 reductions, 942 additions, 152764 (-1329) end count
• apr01-apr30: 2286 reductions, 1583 additions, 154093 (-703) end count
• mar01-mar31: 12446 reductions, 844 additions, 154796 (-11602) end count
• feb01-feb28: 943 reductions, 1143 additions, 166398 (+200) end count
• jan01-jan31: 1604 reductions, 1834 additions, 166198 (+230) end count
• dec01-dec31: 1119 reductions, 844 additions, 165968 (-275) end count
• nov01-nov30: 1614 reductions, 1310 additions, 166243 (-304) end count
• oct01-oct31: 2498 reductions, 1768 additions, 166547 (-730) end count
• sep02-sep30: 6380 reductions, 861 additions, 167277 (-5519) end count
• aug14-sep01: 733 reductions (based on Slack very few data points), 172796 (-733) end count
• aug01-aug14: ?2900 reductions in IDC (based on media reports), 173529 (-2900) end count

Limitations of these stats are covered in detail in comments.
I will post daily in comments on the count change and running current month total.

My public key used to prove identity: ssh-ed25519 AAAAC3NzaC1lZDI1NTE5AAAAIPh3BL62QOGXk95TzS980uSckZd1M5YPGqouR0iHWumB slack-stats

I was told that the new PMP system uses five ratings, from A to E, with E being the lowest.
Rumor has it that receiving two consecutive E ratings could lead to contract termination.

I was also told that in teams of five or more people, each rating must be assigned, regardless of whether all team members performed well.
I know this is supposedly about controlled and forced attrition aimed at eliminating so-called low performers, but it still shocks me.

In some cases, year-end ratings have apparently already been decided at the N+2 level. If that's true, then the game is rigged.

Your thoughts and comments will be valuable to everyone.

6-7% now, another 7% in small multiples until March/April.

Every week a talented colleague is leaving. And it’s not just malcontents, but includes people who drank the cool aid from a Big Gulp. Just found out another one today. The talent/brain drain is staggering! The executives are getting what they wished for. I hope they are happy. Once this train accelerates it will be tough to slow down.

Trend is clear, year over year we drop 1000-1500 people

Seems like the new d and s model and the attrition, redundancies and retirements are starting to really hurt executives. Their planners are resigning with no backfills, they can’t staff major projects or roles and operations are struggling.

I know this place is far from ideal, but make sure to first land a new job before quitting. Jobs in our field are not that plentiful right now, plus, you will be competing with a lot of other applicants for most jobs. Depending on your skill set and age, it could take you many months to get a job offer.

The announcement that there would be no more LTIP for anyone below the T6/Director level, delivered shortly after Roman’s retirement, was admirably clear: if you’re a worker bee, don’t bother dreaming about LTIP. That nectar is now reserved for the management hive only. Why? Well, let’s consult the sacred tablets of hard data.

Over the past 15 years or so, promotion velocity in management has been running at roughly 1.5 to 2 times the speed of the bench. You know, the people actually doing the messy little work of inventing the technology and shaping the product ideas ! Meanwhile, every Tom, Di-k, and Susan who somehow managed to ditch the bench ( mostly utter failures as technical folks) , then climb into management after hitting T4 or T4.5, can apparently fast-track their way to Director in 12 to 15 years with astonishing efficiency. A kind of corporate alchemy, really.

By contrast, if you remain in a nonleadership role ; 3M’s charming euphemism for “the people still making things happen”, then after 15 to 20 years, your reward may be a T5, if the stars align and the universe feels generous. And for the tiny fraction, perhaps 2 to 3 percent, there is the distant and glittering possibility of reaching T6 or above, where the LTIP finally appears like a mythical prize at the end of an especially uneven race.

Unless this issue, among several others, is addressed, morale will continue its slow and consistent descent. It would hardly be surprising if Q2, Q3 2027 brings a lively exodus from the T4.5 to T5 ranks. Perhaps a little alarming attrition will finally send a message to the highest levels..... much like during Covid, when a wave of technical talent left 3M and, quite sensibly, never came back. To its credit, 3M eventually did learn something from that episode and made promotions a bit easier from T3 to T4 and T4 to T4.5. A touching example of institutional memory, however briefly it may last.

@15y+1m5adfe2d said it perfectly.

My team over the past 3 years has been reduced down by 80%. Currently our team consists of nearly 40% open roles. My suspicion is these open roles will be open for sometime. We had other open roles that were cancelled at the point of making offers. A shell game of keeping headcount and budget without spending money. Are other teams at Support Center having a similar situation?

Bank of America's October 14 earnings call revealed some numbers employees should be paying close attention to. This isn't speculation about a secret layoff list. These are figures and statements from the bank's own disclosures.

HEADCOUNT: THREE CONSECUTIVE QUARTERS OF DECLINE

• December 31, 2025: 213,207 employees
• March 31, 2026: 212,134 (-1,073)
• June 30, 2026: 211,304 (-830)
• September 30, 2026: 209,911 (-1,393)

That's 3,296 fewer employees year-to-date (-1.55%) and 3,473 fewer year-over-year (-1.63%).

The Q3 net reduction was approximately 68% larger than Q2's.

Important distinction: these are net headcount changes, not confirmed layoff counts. Attrition, hiring, departures, and staffing decisions all affect the totals.

MANAGEMENT LAYERS ARE GETTING THINNER

CEO Brian Moynihan confirmed that the number of managers was down approximately 5% year-over-year, while client-facing production staffing actually increased.

Think about what that means for internal mobility, promotions, management spans of control, and employees inheriting responsibilities from consolidated teams.

The bank hasn't disclosed how many managers were terminated versus reassigned, retired, or otherwise departed. But a 5% reduction in management positions is a material organizational signal.

THE 2027 AI PRODUCTIVITY EXPECTATION

Moynihan discussed technology development efficiency and stated:

"next year we get 10% more work for the same cost."

Technology development represents approximately $4 billion annually, according to his comments.

The obvious employee question: where does that additional 10% capacity come from?

Faster tools? Fewer vacancies being filled? Consolidated responsibilities? Higher delivery targets for existing staff?

The earnings call did not announce a 10% individual productivity quota or a companywide salary freeze. But the expectations for technology output are unmistakable.

THE CFO'S 2027 STAFFING MESSAGE

CFO Alastair Borthwick said:

"We're going to maintain that management discipline into next year"

He was discussing headcount management as part of the bank's expense strategy.

That matters because controlling replacement hiring can reduce staffing without a large, publicly announced layoff event.

Employees leave. Positions aren't necessarily refilled. Work gets redistributed. Organizational costs decline.

NOW COMPARE THE FINANCIAL NUMBERS

Q3 2026:

• $30.0 billion in revenue
• $6.9 billion in reported net income
• $8.1 billion in adjusted net income, excluding the regulatory settlement charge
• $1.2 billion regulatory settlement charge
• $6.0 billion in share repurchases
• $8.3 billion total returned to shareholders through repurchases and common dividends

These figures don't prove that future layoffs are planned. But they show a bank returning significant capital to shareholders while simultaneously reducing its workforce and emphasizing productivity.

WHAT THIS MEANS FOR 2027

There is no confirmed bankwide 2027 layoff target in the October 14 statements.

However, four observable signals deserve attention:

1. Headcount has fallen every quarter in 2026.
2. Management staffing is down approximately 5%.
3. Technology is expected to deliver more output at the same cost.
4. The CFO explicitly expects staffing discipline to continue into 2027.

The bigger risk may not be one giant layoff announcement. It may be continuing attrition, restricted backfills, fewer management openings, and larger workloads for the employees who remain.

QUESTION FOR CURRENT BOFA EMPLOYEES:

Are you seeing hiring requisitions delayed or canceled, managers covering multiple teams, departures going unfilled, or higher productivity expectations tied to AI?

Which divisions are experiencing the most pressure: Technology, Operations, Global Banking, Consumer Banking, Merrill, or Risk/Compliance?

Please share what you're actually observing, without disclosing confidential information. Distinguishing confirmed actions from rumors will make this discussion more useful.

Sources:

Bank of America Q3 2026 earnings release and workforce data:
https://investor.bankofamerica.com/regulatory-and-other-filings/select-sec-filings/content/0000070858-26-000481/bac09302026ex991.htm

October 14 earnings call transcript:
https://www.roic.ai/quote/BAC-PP/transcripts/2026-year/3-quarter

Detailed employee-focused analysis:
https://www.grindhotline.com/bank-of-america-2027-job-risk-managers-technology-q3-2026.html

It feels like every day somebody else quits.

We've lost too many people and they're still trying to figure out how to make everything work with what we have left. This is just my opinion, but it'll take at least a few months before they hit us again.

To Whoever runs the ExxonMobil LinkedIn account,

Please, please stop thanking people for their contributions in response to their “I’m quitting this $hit show” posts. Sure, they post how great it was and all that they learned. But they only do that because unlike you, they are professionals. And they basically have to if they don’t want to post something that could negatively impact future opportunities.

Your posts reek of desperation. You have a ranking system that encourages attrition so just own it. No need to act like you have feelings and post a thank you to someone who is probably leaving because of the policies you’ve implemented. You do not “higher for careers” and people aren’t your “most valuable asset”. It is 100% a business transaction so just stop with pretending you care at all.

• On behalf of everyone that reads those cringy posts.

Like a human ping pong ball: AT&T, RingCentral, and T-Mobile, continues to bounce around in short time.

Funny to see all these external C-Suite people come from A&TT and now they churn out amongst themselves.

I don't know who made the decision on who to cut, but this is ridiculous. People with over a decade of experience, some of the highest performers, are now gone. Was this really necessary?

The workplace has become more political, with little room for employee ideas and almost no accountability. No wonder good people are looking for the exit as fast as they can. Who in their right mind wants to stay in this environment? I had high hopes when Hans was replaced by Dan. Those hopes are gone now.

"As the saying goes, 'Whenever you see a huge amount of attrition among younger employees, whereas the old management never changes or remains the same, throughout the years, you can conclude that this is not a workplace but a political arena.' WF is the same."

What's going on with all the churn in employees? Can anyone chime in? Seems like it truly defines the definition of a revolving door

Most of the people I see left are either old timers waiting it out for retirement who remember when WF used to be a decent place to live and hate it here or people who would desperately like to leave but can’t find a job and hate it here.

Based on who I’m seeing hired I don’t think Wf is a exactly destination for top talent and most of the people leaving are the ones with better options so you’re only left with the ones hating their job. Sounds like a great culture right?

I have a hunch this announcement was made prematurely in hopes people will jump ship, quit and therefore be given no severance or unemployment. Ride it out yall.

Truist Investment Services lost its’ largest producer last week. Not surprised. People were already on the fence about leaving, but when they were forced to raise their fees across the board, the door swung out. This is only the beginning.

I've noticed many folks are taking jobs with competitors and partners, while others are leaving the field altogether. Are they seeing something coming, or have they simply had enough?

I heard many people got laid off within a year after moving to a hub city. I want to know if any of them were in 40s or 50s and if the surplus was because they moved on their own or if their position was redundant due to their project getting closed.

I'm curious about the people who were actually laid off by BNY. How old were you when you were let go, and how many years had you worked here? I'm not trying to draw conclusions from a handful of stories, but I'd like to see what people are reporting. There seem to be a lot of different theories about who gets selected.

Worker anxiety about job security and finding new employment is contributing to a significant decrease in labor market churn. This heightened concern, coupled with weakening labor demand, has led to fewer job openings and a reluctance among employees to quit their current positions. Consequently, the rate of job-to-job transitions has declined, impacting wage growth and overall economic productivity. This trend suggests a less dynamic labor market, potentially making it more vulnerable to future economic shocks.

United States

https://www.atlantafed.org/research-and-data/publications/policy-hub-macroblog/2026/10/06/rising-labor-market-anxiety-and-declining-quits

Now that we know major cuts are coming once again, do you think they're going to drag it out in hopes some of us quit because we can't take the stress? It wouldn't be the first time they did something like that.

What would make a high performer choose to stay for another year in here? I’m leaving as well as I feel in the past year I started to feel that I'm not running towards something amazing. I'm running away from something that has become frustrating. Very very frustrating!

For decades I enjoyed my job and was ranked well. Then they flipped a switch when I hit my mid 40s and started dropping my ranking. Now I dread work and am looking for a new job. I can’t sleep any more and it is really impacting my health. I don’t think they realize what it does to someone when you tell them they are a low performer and then can’t give any real reason. People are wired to recognize when they are not being treated fairly.

It’s gone down for five years with no signs of recovery or innovation. Just fire 80% of these d-mbasses and move on with the 20%.

Two people have moved to ?GM One just started a couple years other been at Ford for than 10 years.

Went to GM.
I hear many out o other companies including GM,

A few people from my group have left. On zoom some of them were deleted and some of them their name is still there but says deactivated. What’s the distinction?

Mostly folks coming from XOM. I also know two guys who left CVX for XOM. Are we now having an official employee exchange?