#reorg

Obviously they’re using their ridiculous corporate buzzwords to soften the blow. The way they’ve said everything made it seem like this is going to be the last round of layoffs by saying there is no Cascade 3.

But… it says “There is no Cascade 3 as part of Capacity Realignment.”

Those sneaky ba----ds. Capacity Realignment is just phase one. “Cascade 2 will conclude Capacity Realignment.” There’s still Sourcing & Shoring and AI & Automation phases to come.

Maybe this was obvious to a lot of people, but I definitely had a false sense of security thinking this would potentially be it. I knew there would always be the POTENTIAL for additional layoffs down the road, but this sneaky bullsh-t just really jumped out at me today.

I wish they’d stop the bullsh-t buzzwords, grow up, and just say things as they are. Instead, they’re being a bunch of cowards hiding behind pretty words.

1. America first - Shipment of jobs to the CEO's and CFO's is a conflict of interest.
2. Eliminate the prior regime's dross - The use of consultants at Waters has wreaked havoc.
3. Use qualified ppl. for leader roles - Rewarding the LT's cronies has NOT worked out well.

I'm watching the dumpster fire with me popcorn.

So from Cameron Bready's exhausting epilogue, the word counter on "change" was absurd. "Change" aka in HR word speak is re-orgs and layoffs.

Has anyone received their in-scope notification for wave 2 selection event yet? Houston-based, CTC employee here, and haven’t heard anything yet…

Has anybody heard if health and medical in San Ramon and Houston are going to be part of wave two?

Sitting by the phone the get my wave 2 call…and it occurs to me how little I’m going to get done the next…week? month?…as I negotiate this theatre. Do they even realize what they’ve done here?

Think there should a pause before another CPM wave right?

Sr. Manager here. I read this board every so often but, please don't get complacent and feel like you are safe right now. Unfortunately, it's not quite done. Last week was the majority but there is another round this coming Monday. I have 5 meetings with HR and my directs that I don't want to be in next week. Good luck .

One after another, all members of Pershing’s technology leadership team were either let go or resigned. Leadership positions have since been taken over by individuals from BNY Wealth and Albridge, many of whom lack a solid understanding of the business. Their actions are causing significant issues, and I hope they recognize the problems before the situation becomes too big to recover from.

I don't understand how it's possible to lay people off when myself and my coworkers are so swamped with work that we are working 12 hour days plus weekends on salary?? So stupid! Reorg! We've lost so many longer timers with so much knowledge..we literally had to hire 3 people to fill one of their positions! Just one! But instead they are hiring more upper management!

This reorg under COO organization will be huge - will redefine the way any contract is executed/delivered to clients within Gainwell.

It is a major shift that will lead to many losing out (in fact, several positions will be terminated and WFR’d) but for a few, it will be a win for short term.

Look out for the email/discussions from your manager/dept head over next week or so. Good luck to everyone involved.

Shocker. No big change. Just same people new titles. Good job, again.

I worked for a reputable temp staffing agency and they contracted my role with FISGlobal saying it was at least 6 month opportunity. On the start date, I join and they onboard me and let me meet my team of 3 onshore persons. Less than a week later, 1 person is let go; without any announcement. I meet my broader project team of 4 persons, 3 of which are offshore in india. 2 weeks later, my small team is absorbed in a larger existing team of 10+ persons; where sprints are managed by an offshore person asking me for an project update on a sh-t project that has 0% of success. 1 month later, I get a call from my staffing agency that the contract was cut and all their existing staffing resources were let go including my own position. This is no way to work and is a terrible company and client.

Rumor has it, it will take place after the summer, somewhere in september. Anyone else heard otherwise? I wonder as now it seems the reorg will also happen in business so not sure if works council will review it as one big reorg or tech will go first.