According to the regulators we are under staffed. I would hope the internal employees would be moved around instead of canned. Any news on who and when in legal? We get zero information. We had a town hall and our GC didn’t say much. She mentioned enough to acknowledge cost cutting measures but did not offer substantive information. She seems nice but it was disappointing. There are lots of managers who have less than seven directs. All of us do such different functions within our teams. It’s true that there are many layers with attorneys so I expect my team to be merged? I’m not sure what this means for the paralegals but they do an amazing job. Their teams are run very well. Then the BICs, they play an important function. I just don’t see where cuts could be? We are a skeleton crew already.
They also outsourced roles in the past but brought them back because there were so many problems. They did this back in Wachovia-merger days. If Charlie has them outsourced it will demonstrate that he cares more about a quick bottom line response than risk and quality. Mark my words, if teams are outsourced they will be brought back within 2 years, at the expense of losing smart employees with huge outsourcing problems. I would have a very different opinion of him.