In our team meeting today, our SVP asked for patience and stated they didn’t have everything figured out yet. But they were able to eliminate positions based on loosely applied criteria. Crazy how the CB SLT is completely in tact yet have some of the most incompetent leaders in the industry.
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@dm that call was so pointless. No agenda, two minutes of nonsense and then silence. For what?
Bowers had an org meeting (impacted and not impacted on invited). The tone was almost cruel. No tact and still no answers what is going on.
@a4 Not only does it follow that trend but there’s also the piece where they blame all the issues on the groups cut. They do this every time as if things will magically get better now that those positions are gone. They did that when the divisions were cut last year and they’re doing it again this round. Meanwhile those in leadership continue to pay themselves big bonuses and are never held accountable for lackluster results.
I had to sit through something like that today on CB and I was cut in this round. Nothing like rubbing salt in the wound and requiring attendance to stay in good standing to retain severance. Very tone deaf communication again.
@a5 This topic might be on the CB Business, Product areas not on the CB IT teams. CB IT teams cutdown the contractors by end of Q3 itself to reduce the impact on FTE.
@a5 define meaningful
This doesn't sound truthful CB didn't have any meaningful layoffs
All of the reorgs over the past few years have followed the same trend. Act now, figure out later. There's never a plan.
What does “loosely applied criteria” even mean?! They need to clarify a statement like that. Boneheads.