This is the big secret she is not sharing... chuckie babe wants each division to cut 2 layers of managers. Our Deputy Chief Compliance Officer was the first layer in Compliance, and the next layer will be all of the managers in the 7th layer. The SVPs will absorb the managers direct reports. In BNY Mellon, they eliminated at least 2 entire layers across the company. That is how they expect to put a big dent in the $10 Billion number and why no of us are hearing anything until the day of. There will be 6 layers in risk and compliance! Our interim Chief Compliance Officer said that they had done analysis to see if they could cut another layer. This was he was referring to. Also, every time MN says that things will go faster and be more efficient, this is what she is talking about.
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@ghn ... the ones that have their money at WF. Not saying new ones.. don’t know if you work here or not... if yes... hope you commit to them.
What customers? This bank is going down like the titanic
Seriously think about that statement...
“7 layers down managers.“
How do customers feel?
All directors and sr. directors do is attend meetings and make it less efficient or extremely hard for the people under them or their key stakeholders to complete work.
they'd be better off reducing the number of mgrs and cutting off sr mgr/dir and sr dir roles. what do directors/sr directors do apart of 'relationship mgt'?