Does anyone know how many people will be laid off in 2020 and early 2021?
Rumor says 20% will be cut, which means over 50k will be cut eventually (maybe within a few years ?). But anyone knows how many might be let go this and earlier next year? Thanks for the input.
Part of me would be relieved to get a package. Then I could get money and not have to deal with the pure insanity at work right now and no, I haven’t worked 40 hours since I worked in the branches and that was 10 years ago. I have a b—s— job and if it got eliminated, that would probably be the best decision for the company. However, as long as the $ rolls in, I’m here for it. All the while, working that network to escape the stage coach after 20 years. Our company is a real dumpster fire.
Instead of having sales goals we now have complaints goals. The more complaints the better! My branch had 7 today and high fives all around. More complaints = more opportunities to fire people illegally!
The number I keep hearing is between 40k and 50k which lines up close to the 20%. I’ve heard this from multiple areas in the bank which I’m past has been a good indicator there’s some truth to the numbers
Hey 1pqa and pom- what’s your favorite Michael Bolton song? For the record, I don’t think it gets any better than when he sings “when a man loves a woman”
I’m consistently entertained here by the people that think THEY are not the dead weight.
"Well, I generally come in at least fifteen minutes late, ah, I use the side door - that way Lumbergh can't see me, heh - after that I sorta space out for an hour."
2020 total will be 19,367 and 23,443 in 2021.
@ywu
"I'd say in a given week I probably only do about fifteen minutes of real, actual, work"
@ywu: a "full 40 hours of work" is a ridiculous metric to use. Even someone logged into a phone for 8 hours a day 5 days a week doesn't necessarily do "40 hours of work". I've worked here over 20 years and I'd wager I've maybe only put in a few 40 hour weeks that whole time.
That antiquated slave labor mentality needs to go. I had a former coworker who constantly complained about the overtime he needed to work. I did more work than him and had multiple hours per day of doing nothing. He was trying to look busy so he could soak overtime and buy more home recording equipment and save up for his next 12 month trip to India.
He thought I was a lazy bum, but people people would breathe a sigh of relief when they got me instead of him to work with. They knew I'd get it done quick and proper instead of dragging it out and making them unproductive.
No one knows because we do not have a number for consultants. You would have to take those numbers out and also realize 1 consultant costs about the same as 2 FTEs so there is no specific number. There will be areas that gain and areas that lose. I think a lot will be in attrition, getting rid of the dead weight and duplicative processes. I think if you are actually providing a real value you will be okay but for all the people crying here we all know a ton of people who have not done a full 40 hours of work consistently in years.
@OP I can't find the article now, but there was an analysis that to reach the efficiency goal they're aiming for it would be a 30% RIF or roughly 80k.
Literally no one knows the answer to this question. Not even Chuckles. Just understand that it is going to get bumpy - and you're getting paid until they tell you otherwise.