There were some employees in (CSBB - Consumer & Small Business Banking) that were laid off today and they were completely blind-sided and caught off guard by it. None of us saw those layoffs coming because most of them had a TON of work to do and had so much responsibility and because of that, totally blind-sided and caught off guard. What became clear to me is that Tuesday is not always the lay-off day because they got let go today (Friday). Also what became clear to me is that a lot of people are like "I have a ton of work, I am super busy... I do not think I'll be impacted by layoffs." WRONG! Do not let your guard down because It is clear having a lot of work will not keep you off a displacement list. Finally, what became clear to me that these displacements are purely cost-cutting and nothing else is being factored in because those employees were GREAT people, efficient, well liked, super experienced , made a HUGE impact and will be missed.
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Getting rid of high quality, experienced and competent people is the quickest way to destroy a company. Especially if you're not replacing them with new equally talented people.
This post is so true. I’m a manager and I received my notice on October 27th and to say I have a ton of work would be an understatement . I work 10-12 days on a good day and my team has overtime daily. This is not because we can’t get the work done in 8 hours it’s because we have more work than people. I was selected this year for a project to represent the department and my performance review for 2019 exceeded so yeah, this has nothing to do with work or performance. My manager was notified the day before and she was in tears when she notified me. Our department recently hired managers who were leads before and they were not impacted. Doesn’t make sense at all.
Are regional service advisors under the CSSB? Sorry I’m not sure about the org structure, seems like many here are much more knowledgeable than me.
There does not seem to be any logic – throwing darts at random targets.
I second this. I would have said bs a week ago until I found out three people doing extremely important regulatory work were let go and no one is performing their work. This is really scary.
I am not the OP, and I haven’t been laid off, but I updated my resume in September. My rationale was that it made sense to do it when I wasn’t under stress and when I still had all of the information that I had pulled together for my midyear and year end review. I also have too much to do. But I figure that means nothing.
OP, thanks for this info. Do you have more specifics you can share? Which business unit(s) in CSBB, how many people? What level? Etc.
I’m surprised that you are surprises! One thing no one can complain about is that since the beginning the CEO has been clear that this is all about cost cutting, not about experience levels or value to the organization.
Maybe so, but i’m different
Sometimes the people hurt the most are the employees left behind at Fargo. Many time you are better off leaving a company that has a terrible culture and is a sinking ship.
thanks for the warning; that is very sad to hear.
I hope everyone is preping for this to happen. Its very sad.