Messaging is so vague that it a more confusing than informative.
Guess the backslapping and congrats at the L3 and above continues…
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Higher Ed is getting hit hard with this new administration so you know the trickle down effect will also be coming our way soon. Many institutions are losing research grants which is a top funding source for universities. There will be a wave of layoffs coming to our institutions too and more coming our way as well.
The fact that they planted this guy here to push their narrative speaks volumes about this leadership. They are more interested in controlling the narrative vs understanding their employees. Zero authenticity. Culture is about respect. Not dancing as your employees are losing their jobs bcos of your failure to make a profit
There were more layoffs on Wednesday (3/5), with an exit date at the end of the month.
I think you are confused in the group of employees laid off in January their official term date was Monday March 3.
U know it was more than just business control at R&C
Nuveen Real Estate will see some layoffs too.
Risk and Compliance transferred their Business Control teams to the businesses. Seems reasonable and not connected to demographics of employees.
Is R&C disproportionally getting rid of women and non-white folks?
Its the tired old leadership who feel so secure in their tenures and are clueless about the changing environment and happenings around them who need to be targeted, not people who are adapting and changing to meet the new demands..
Anyone know how many were affected? Is there more to be expected this week?
Yeah. I really think they are prepping for sale. Maybe not this year or even next, but this house is going on the market. And just like when you sell an old house that badly needs a new furnace, new roof and new kitchen, the real estate agent will tell you, "NO. we want to keep the list price low to help the sale. Slap a coat of paint on everything, get rid of all this outdated furniture and we'll have the place "staged" with Danish Modern from IKEA cuz it's cheap and today's young buyers like it."
The US employees are the outdated furniture. The deal with Accenture and the services in India.....that's the IKEA Danish Modern....the cheapest thing the new buyers will still accept.
So if anyone finds a statue of St. Joseph buried in the backyard of the Charlotte office....you'll know for sure. ;-)
I’ve heard OCFO, R&C, some Nuveen. Sure there are others but from what I was told this was to meet cost reduction targets mandated by EC and recommended by consultants.
What areas? Any details?