You heard it here first. Remember, who is your daddy now?
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Powell is likely to shed deadwood left behind his predecessor . Junior talent with big director titles are easy place to begin.
@gm important context about SP is that he is 65 and probably moved over to Risk for a short duration to open up vacancy in COO as that may have higher priority. SP may not make any changes given where he is in his career. If there were buyouts in the works in Risk, he might just let it happen while he plans his retirement.
@n3 - not talking Scott’s directs.
He will drain this swap of remaining crooked players.
@k3 if "certain employees" means some of Scotts directs who were asked to leave WF, you are right. But I can say with complete certainty that COO did not use buyouts with the rank and file. Don't distort the facts.
What’s funny is that no one here seems to think that voluntary “layoffs” were a thing in COO (or anywhere else) - they were absolutely a thing for certain employees. Some of them even came back as consultants afterwards. There’s always exceptions to the “rule” - just not for everyone.
Scott Powell would never do anything to soften the blow to the employees that he has demonstrated so much hatred for.
IF YOU WORK IN RISK BUCKLE UP: Charlie is a butter kn--e when compared to the real chainsaw that is Scottie Powell.
Scottie’s comin!
@dm you are not part of the “we” in your post. It should read “they”
Yes, everyone in Risk should prepare themselves for displacement. SP is the absolute worst executive in the company and his own objective is maximum resignation/displacement.
@ex No, COO is not part of risk. But the person who has run COO since 2019 is taking over leading Risk. So, his past behavior is relevant when someone suggests that buyouts in Risk are possible. Ain't gonna happen.
@c7 is COO considered part of Risk? I thought Risk was Corporate Risk?
"Buy out" is voluntary, displacement isn't. That's the difference.
Buying what out? There is nothing for Wells to buy.
Why would they "buy out" when they can displace (eliminate) people?
Not happening.
There are definitely pro and cons to both alternatives. We can start with buyouts to weed out the less tenured staff and then run the business with experienced employees until we are ready to exit completely.
what are the risk hubs at this point?
This is fault. They’ll be laid off with the normal severance package.
"Who's your daddy now?" Are you 12? Just deliver the information like an adult FFS.
Yes please!
OP the buyout is called a layoff
@OP does this include specialty market locations? Any specifics.
COO has laid off more people over the last 6 years than any other group due the impact of location strategy on Global Operations and efficiency actions across the other groups. Buyouts have never been used and they've cruised to their headcount targets just fine.
Any talk that Scott would feel buyouts are needed is a pipe dream. Don't waste your time.
Seems unlikely. SP has never considered it an option before, it'd be surprising if he did now. Even more surprising if his boss would allow it.