Even without any rumors, even without any announcements, all I can think about every single day is what's going to happen if I lose my job to cuts. I wasn't like this before, I swear. But with all the small and large cuts in the last few years, I think they broke something in me.
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@1dv Where did you hear remote workers will be laid off in 6 months from?
Just heard remote people are being laid off in 6 months. Yes I'm stressed.
I'm trying to get through another 2-3 years here to get my personal financial position to a certain place, then from there I don't GAF. If it's worth sticking around for a few more years after that, great. But I will give zero sh--s about it.
I am starting to worry about NOT getting laid off.
@aw Needs Improvement is a step for some, even if not warranted or if put on a PIP. Others with Exceeds Expectations and recent grads from the 3-year banking school that the bank paid for. It's hard to know when it's your time. Layoff PTSD is real. Use your Optum counseling services to help you get through it.
@dr I mean, people still have property taxes and car insurance, plus utilities. On top of the fact that a lot of employees rely on health insurance through their employer. So it's important to understand that going without a paycheck is a lot more than that for the vast majority of people even if you have no debt.
I stopped caring and just pay everything off to not rely on paychecks.
I used to stress but not anymore. Instead I’m focused on what I can control and my future. When I thought of it as just another run of the mill company (which it is) it changed my mindset and I’m more relaxed.
I give the bank back this year what it rewarded me for last year. Actions have consequences and management needs to be held accountable (word of the year?) for it.
Nope, I am not letting this company stress me out. It's bad for your health. I've done the best I could to prepare for a possible layoff. I have paid off debt to prepare myself financially. I have a healthy emergency fund and I live below my means as a general rule of thumb. I'm also actively applying/interviewing because our company outlook is grim with the constant layoffs and reorgs.
I also think it is a good idea to be interviewing even in good economic times to keep your interview skills fresh so that if and when you are impacted by a layoff, you'll be ready dive back into the job market. But it helps to acknowledge that you can only do so much.
Ultimately, if you are selected for a layoff, it is out of your control. You do the best you can to protect yourself in the aftermath but stressing over it solves nothing. The bank doesn't deserve your worry and tears. Start planning now if you haven't already started but give yourself grace. We're in crazy times.
I do feel valued by my management but I know that the company just sees me as a number on a spreadsheet and it could happen at any point. It’s always a worry.
Yes! It’s layoff PTSD, and it actually started several years ago with “Enabling our Future”. We knew then it was possible, and it hasn’t stopped since. It’s only gotten more frequent. I’m tired of the whiplash. It’s like a corporate menstrual cycle. Everything seems fine for a few weeks, then you get a sense something feels different, then you actually see or hear about something different, and then for one week every month we all anxiously await a mysterious 15 minute meeting scheduled. Good companies and good leaders don’t handle change management like this
@a4 Needs Improvement is the first step. If it's followed by a PIP (performance improvement plan) then you're cooked. At the end of the PIP period you're out the door without a severance package.
Yes, the thing that worries me most is the plan to start forcing managers to give a percentage of their team needs improvement. I suspect the bank will implement something to reduce or take away severance from needs improvement employees. I'm not trying to cause panic and I don't have inside information. That is just what I think will happen based on everything they have done so far.
Yes and no.
There are times where I care less. But I'm also financially prepared, so that makes my situation really different. I've focused on paying debt down so that if needed we could survive off of one income in the event severance is nothing and unemployment runs out.
Obsessing about it isn't healthy though. Like it's ok to be somewhat nervous, but time to find some coping mechanisms and maybe look for a way out.
Same. It makes it harder to work well and build long term relationships with my colleagues as well.