The news of layoffs hit me like a ton of bricks. Am I done? Are those who were most recently hired the first to be laid off?
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The company needs to remove “care” from their PMV. That ship has clearly left port, starting with RTO and ending with thousands of RIFs
@1wvm+1oFhcHqt They might not have a choice.
I may be reading too much into it, but one of the LP courses talks about banks outsourcing "due to effort" needed to comply with new audit requirements.
The only way they can shed 5 to 6000 jobs is to outsource a tremendous amount. Entire entities in the bank would have to be contracted or offshored. Anyone really think our leadership is capable of doing that? I think not.
LIFO doesn't just apply to tax returns; get ready to be on the street again, all you strays that came over from other regional / national banks.
What do you think the $250m in “organizational simplification” is? You don’t save money by just reorganizing
$300 million of the $750 million will be RIFs
1K - 3K???
They're announcing an effort to save $750 million. I expect the hit to be between 5,000 and 6,000.
If the cost of your labor is cheap, they'll pick someone more expensive to layoff first.
Regardless, always be prepared for the unexpected.
Ask your manager how to enter your purpose statement in Workday. That's why we're here.
Sorry you got on the wrong plane.
You chose… poorly
Keep resume up to date. Most likely 1k-3k people will be let go
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