#rif

Yesterday was the CRG Governance & Supervision town hall. The future of the St louis location was discussed. For once a Sr leader was honest with the submitted questions:
1- Was asked if WFA is going to stay in STL. Leader paused & answered the questions very carefully. "STL is no longer a growth area". Said flat out they expect the firm to reduce to 1 building (and obvious reduce headcount). Said "that's been the plan all along since AG Edwards". He doesn't expect the St louis campus to close any time soon but it will it's pretty clear STL is no longer a core focus for the firm and will be reducing its footprint.
2- 4 day in-office work week across the firm? Answered would not be shocked but was not his announcement to make. Would come from 1 level up. (ie: its happening but not disclosing when). Explained some groups are already 4 & 5 days in the office.
3- AI will not take your jobs but ironically started the town hall acknowledging there were significant layoffs the day (Tueday) before and some people listed on the handout were already terminated.
It was refreshing to hear a leader be honest even though it was not the most positive answers. It is very clear from the responses that St Louis is not a priority for WFA anymore. How long it will last is unknown. Needless to say the auditorium in STL had a lot of shocked faces but not unexpected.

Our dealer liaison informed us he was let go today, effective immediately. Is this round 2?

All the 40+ middle managers survived while most L2s and some L4s in my department got the axe. How did your department fair?

I’ve been hearing that layoffs strategy was/ is being reviewed due to WARN filing issues from this year (class action). Anyone hear of a RIF plan solidified for Q4/ Q1?

Just told that I was laid off and last date will be 11/13.

Has any department/subsidiary on the West Coast been hit today?

So, after getting the RIF, if you've been there less than 2 years, you will not be fully vested in the 401K program; if you've been there less than 3 years, you won't see the additional 4% so all that money you thought you were getting according to your Fidelity account is a complete joke.

Your account will show a "forfeiture" for the matched amount. I think some of this RIF mess is to avoid having to match folks' retirement contributions they tout so highly as a "benefit."

Lots of rumors around today. Can we use this thread for updates?

But after Halloween. Too scary.

Specific thread for 10/30 RIF at Wellmed. Comment if you know what departments will be impacted and where?

Please please chime in and share some info here. When is the next big RIF that we will bombarded with while the mafia Frankenstein and his minion gang will savor an expensive drink over the rocks in their mansions watching associates and their families getting devastated already struggling to put food on the table !!! Shame on Frank B. and his fcky minions - you all shall be imprisoned. Karma will chase you down , wait and watch.

I want to understand how much control a Sr director or above has when it comes to saving their favorites over people who actually work?

I know atleast 5 people in my org who got hired because they are related to so and so leader in one way or another. You can tell how bad they are at their work.
They could not even get hired based on their own capabilities.

Has anyone heard what premium increases will be applied to the Elevance Health (formerly Anthem) COBRA insurance for past employees (i.e., RIF'd)?

Elevance Health COBRA insurance is administered either by a third-party administrator (TPA) hired by the employer or by the employer's internal HR department. Anthem offers both COBRA (continuation of group health benefits) and benefits administration solutions, though it often partners with third-party administrators like Benefit Admin Solutions or Benefit Help Solutions to manage the administrative details of COBRA.

That’s how it’s always been - the notices go out the day of the layoffs.

The EVP sent out an email stating that the notifications have been delivered. So if you did not hear anything, you are safe!

A point I never see get made is how frustrating it is to deal with an even worse job market just because you worked hard. Yes, I might survive the next rif, or maybe the next two, but three rifs from now there will be so many unemployed white collar workers that it would put us in a worse spot. Sc--wed if you are riffed now and even more sc--wed if you are riffed later, really demotivating stuff.
OP: @aa+1k8r4n5xw

This.

If you want it congrats. If you need your job and want to stay, I wish you luck and prayers.

OT and OC look to be the ones getting it the worst.

...at an O&O. We lost 8 total across 3 departments.

post here if you got an email.

There will be more layoffs before years end. Nothing says Happy Holidays like a good old fashioned RIF. Support for clients is terrible and getting worse by the day. Pretty unhappy place to work these days.

What other departments got hit? Seems like this is going to be another big one. That was a fun meeting, love to hear what others are being told.

In every company that I have ever worked for, my focus has always been advocating for the customer, whether that be in new product development, maintenance of existing products, resolving issues that are encountered, or being available when the customer needed help.

I have had the pleasure/joy over my career of having worked at companies that had this same value set. It was vital that the customer knew that he could trust us to do him right

While at F5, I continued the value set of advocating for the customer, however I soon learned that this was not the value set of F5. I continually encountered strong resistance. Premature release of software, software that was buggy and customer sub cases that were ignored to name a few.

Since my RIF, I have interviewed with many companies and to date haven’t found one that places the customer first. It’s about stock price and revenue. And after F5, I choose not to work in that type of environment again.

I have a question over the benefits that Citigroup offers staff being laid off due to a Reduction In Force (RIF). I have heard that everyone keeps two weeks pay for each year that worked at Citigroup, but are there any other benefits offered as part of their package? What healthcare (medical) benefits are being made available? Only COBRA, or is does medical benefits continue for some time as part of the Garden Leave requirement? How about the bank annual 401K contribution, if I was to be RIF between November 2025 to February 2026, would Citigroup make any kind of contribution into my 401K in March 2026? Thanks in advance,

Out of work for over 8 months, and it’s hard out there.

I had a number of interviews where I lost out to an internal candidate…

when I really thought I was going to be hired. I came back, managed to secure a substantial pay increase in the process.

I took the job without hesitation, after being out in a very tough job market. > 50, > 20 years in…. I have a radically different view now of this place.

I’m going to just try to hang on until retirement, I will move afterwards 2 years into a different position, no more loyalty to the area I work in.

We can’t possibly have another level up while riffing at the same time…can we?

How are these generally handled during reduction in force? Are they prorated?

Or are we still in rumorland? I’ve been hearing similar things, but nothing certain.

15% RIF across the board, notice on Nov 20, off payroll Dec 19 is what we were told.
OP: @d5+1k89bz5ta

Buh bye

10/23 notification date

Many organizations impacted

Good luck to all .

Especially the useless top gear Dir/VPs being thrown out?

bad stock performance and poor earnings are driving the layoffs. 10-15% cut.

Has anyone ever successfully sued and won after being Irif'd? Out the 81 people released last week, only 9 were under 40.

Does anybody have any word on layoffs in the services group at UOP? Have heard rumors that China and India offices have RIF’d. Additionally, some U.S. FOS advisors have been told to return to the office before October 24th.

If you have any questions about GP/TSYS feel free to ask here.
Every town hall we’ve had this year they’ve given strict direction to NOT speak to anyone from FIS regarding the Global Payments/TSYS Issuing divestiture.
We also went through a massive McKinsey overhaul all year and what a disaster it has been. RIFs around every corner and most of us have had the same anxiety about “when will it be my turn” all year. The guy who was leading that effort from McKinsey is now the CTO of GP real interesting how that worked out…
We are not hiring stateside anymore, it’s either India which also seems rare these days, or Phillipines.

Looks like a couple people are being trimmed from most teams across multiple office locations. Charlotte, Saint Louis, Denver, Stamford. This just came out of nowhere. No severance offered to the people I've talked to who were randomly fired either.

All areas in Optum insight are impacted, each team is looking at a 10-20% reduction. 10/30 is the date, but due to the number of people, may have to do it in waves.

Point32Health, the state’s second largest health insurance company, is eliminating 254 jobs in its second workforce reduction of the year. The layoffs will impact approximately 6.5% of Point32’s workforce.

https://www.nbcboston.com/boston-business-journal/point32health-more-layoffs/3830594/