As most of you may already know today is the day. Post here what department and locations we’re affected.
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JPM is getting rid of their people -- due to their implementation of AI.
But there needs to be more room for JPM folks, since that's who we seem to hire. Is there anyone left at JPM?
Is the 24% the net difference? Then the number of WF people being laid off is much higher.
CIB senior leader of equities was laid off. He was very shocked walked him off trading floor.
@ay I was notified of my relocation on the Thursday after a payday/holiday on Monday.
CSSB is consumer and small business banking, it is now being referred to as NBN for national branch network.
@b0 what is CSBB?
Heard CSBB was hit hard today.
Can't say I ever remember people getting whacked on a Tuesday-after-payday-after-a-Holiday. Sadly..
The info some Tech managers heard (months ago and not in writing) was that mid-Oct would be another "Big wave" displacement for the org. Have not heard anything since.
I've heard of none, thought today would be a big group.
@ag AI detected Charlotte sh-t-poster and added him to the layoff list. He will be gone in the next round.
$69m less q4 layoffs because of all the holidays.
@a8 Tacos
Des Moines getting hit hard today. So sad.
Financial report forecast for Q4 has less layoffs than Q3. $269 million vs $200 million.
Just waiting for the a$$hat that keeps posting about major layoffs in Des Moines today. I can preemptively say 'no'. There are likely some, but per the usual drip, drip.....no counts worth noting.
Any layoffs in Barnhart today ?
It's a lot like the difference between a recession and depression. In the former, your neighbor loses their job, in the latter you lose yours.
The "big wave" layoff is the one where you get downsized. There have been months where 1300+ people were downsized. That's a good number of people.
lot of focus on expenses and headcount reductions in the q3 earning materials. Looks like a 2k reduction each quarter. Expecting q4 to be higher than previously forecasted and they are also taking a 200m charge for severance related expenses on top of the 260m they took in Q3. Looks like layoffs will be continuing even though headcount is down 24% since this all started.
@a7 what's the justification for this being a big day?
There are no big days. They are all slow and steady.
@a6 what justification?
day after a holiday. probably going to be on the lighter side.