If yes, what do you expect to happen? Who will be affected and how?
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Looks like they started today.
Layoffs happen every 2 weeks
Private Client gone? Sold or product withdrawal and how solid is your information?
Private Client Gone
What divisions?
I heard from a source, who has been very informative and accurate about past layoffs, that one’s coming; we’re talking the July/August timeframe.
Imo (but it's a wild guess), They want to outsource everything outside underwriting to accenture. They already did it with IT and partially for claims, they'll continue maybe with a part or accounting (not the part that makes up figures to make the balance look better of what it is). Once they have outsorced most of it they'll find a buyer...good luck with that!!
I agree. Not in my group, but rather the group my group supports, just last week 3 people resigned, one a manager. Now, do they replace the manager or roll up those people to an existing manager? Do more, with less? So yes, they’re most likely waiting it out, let the resignations happen and no packages.
It is difficult to layoff when you already do not have enough employees to do the work. In my department a rif would have to be followed by a sale or an outsourcing because we have lost so many people that there is no one left to rif. I think the new strategy is to just wait it out. No need to rif when so many are leaving on their own and to get rid of more you just double the workload of the people that stay. Our department in GI has been decimated by people leaving and no one is being replaced so you have to imagine this is the plan. No need to pay packages.