- Management will be told to get rid of X headcount before end of qtr by Executive Management. The expense has already been accured.
- Management will want to use headcount as long as possible to milk them for any work possible, that is unless they don't like the people and they'll do it even earlier
- Q3 end September 30th
- 60 days prior notice period backs up to August 2nd - which is a Sat and would be the drop dead date
- They notify typically on Tuesday's so that's July 29th or they could buffer with an extra 7 days and do July 22nd
7 replies (most recent on top)
OK this is a little simplified. The "big one" will be to support the stock price if the "firm" doesn't make its projected earnings. Expected Earnings Dates 2025:
Q2 2025 – July 15, 2025
Q3 2025 – Oct. 14, 2025
July 15 falls on a layoff day. Now the estimated eps is 1.24. The bank tries to beat the estimate. If the bank doesn't beat the estimate it gives an excuse. "We" (that is current employees) and our (efficiency or lack thereof) are the cards in Scharf's and Santismo's hand. So do we feel lucky?
I’ve been reading post on this site for over 3 years and bold statements like this haven’t happened. The dollars you are talking about won’t impact the bottom line at the end of the year.
Yes, unfortunately the clowns running this show are completely incompetent even in the one skill they claim to be masters of. Shart is here to do one thing, and one thing only, and even after 5 years he still su-ks at it.
yep, there's a fixed amount of capacity to process displacements. The "big one" has been predicted on this board since forever and they never happen because of that capacity restriction. The capacity for a particular date might get concentrated in one business unit but that's about it... it is a machine and the machine can only process what it can process.
Yeah yeah yeah, the course has already been set and there won't be any spikes or troughs. They'll be consistent like they have been for a couple years now
July 22 due to them not wanting anyone employed after Sept. 30th so it avoids potential bonus and 4th quarter counts.
The maths math but sr leadership doesn’t care about these minor milestones. Everything has been budgeted and they expect slips.