Have you observed recently lot of exits across technology including those from tenured employees? Ally maintains that its standard attrition but the reality seems to be different.
What's your thoughts?
4 replies (most recent on top)
I think there is not going to be any upward mobility for quite a while. They exited 3 lines of business and are absolutely fat with low talent upper management. People know they are stuck for years and moving on.
@OP more layoffs coming at the end of the year. Michael Rhodes ruined TD Bank then went to Discover but jumped shipped before he could ruin them to come ruin Ally - which he's doing yreally good at. Management is privy to layoffs months in advance so if you're noticing tenured employees exiting go ahead and start looking! I'm sure no raises this year again and 60-70% bonus is what most got a few months back. "The bank didn't perform well"
Tbh, it does seem that Tech and ETO in particular hired a lot of low performers that are part of the recent purges, and that could be part of the story. Someone in risk can probably tell you what's going on because they track attrition by a variety of different metrics. But if the people around you that you respect are leaving, particularly those at the top, that's your sign to dip. Very few orgs have a strong management team left intact IMO, and I've seen a lot over the past 10+ years...
Maybe just the standard "Sinking Ship" and what Not ?
GLOB GLUB GLUB!
o_O