In my past work experience, being laid off means that there wasn’t enough work for your position so you were laid off. However, when the work increased you would be called back to return to your formal position. I have been in banking a long time and the basic banking positions in all areas are always needed.
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the bigger question, is why would these workers even come back?
Sound like they have no drive and complacent. You need to take risks in life in your career or you will always stay in a peasant role.
You make fun of guys like Chainsaw, but anyone at that level played the game and took the risks to get there. The rest of you will always be peasants.
the people working in tech and ics are not qualified for modern technology, so they will find people with right skills and no longer need these old skills
Why is it acceptable to lay off experience personnel performing duties of a position and then turn around and simple change the title of the same position and rehire? Every position does not change and is required to run the daily operations of a bank. It is totally smoke and mirrors. If any rehiring is done for the same responsibilities they should be required to hire back the laid off personnel period. Senator Warren I hope you are still following this website.
They have to downsize to be like the competitors and cut costs. The jobs of those let go will be done by those left behind. That's why roles will be consolidated.
so far .. most layoffs have been performance based..
Post ID: @epe+196g82wc
While I agree with your point, I'd be inclined to believe that if folks were going to up-skill and stay relevant, they would have done so already. I get that it's harder to read the tea leaves when a lot of us are working remote, you'd still have to have an inkling that if you don't grow your skills, you'll probably be let go.
@rkk You are under the erroneous assumption that those laid off are unable to learn something new. The truth is they want to go cheaper which means right out of school or offshore.
The job is going to India in most cases so they are gone for good.
they're laying off people that are unable to do the new responsibilities expected; so while they're still hiring, it's for a different set of skills. for example, they laid off a lot of people in enterprise testing last year, but the new positions posted are potentially the same job title, but different requirements of responsibilities and skills necessary. That doesn't mean the people laid off are qualified to perform the work.
Wells doesn’t need 270k employees
They are trying to reduce that number dramatically.
That sounds like furloughed.
who calls you back, the company or a recruiter?
Layoffs were categorized as "position elimination". It simply means that those employees have lost their jobs due to downsizing, and those positions will remain unfilled. If anything needs to be done, it'll have to be done by those who got to keep their jobs.
Some are part of ppp/star.