I can't figure out why would you do mass layoffs without truly considering the people and rolls you are cutting? They just got rid of people blindly without thinking about the impact on the future of the company. Who does that?
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@n8 I think you are spot on. I have seen this play out with a former employer. I think their original plan fell through and they are now adjusting on the fly. Because of that it is taking longer and is messier than originally expected.
@h1 I think you are on to something. He came over in 2022 and the outsourcing cr-p started in my area in 2023. By end of 2023 the Citi "partnership" was terminated. However, we are still stuck with citi mo--ns and I think now they want to make us marketable. He-l, Frank let it slip out last year in a townhall that LPL was not interested in buying us (lolol) right after he claimed we would never go public. 2 weeks later frank gets the "I'm going to be retired email" and swept
quietly aside. They merge with someone and call it a "partnership". They will claim we are still a LP who make our own decisions and we have to merge with a giant bank to stay competitive for the next 100 years or some BS. But, it will be a NY based bank and 60% of us (or whoever is left) will be terminated while the GPs cash out. That's my prediction given how sketchy they have been so far with us.
I’m convinced the banking partnership with Citi that fell through in 2020 was because they decided to prepare for a merger with Citi. That’s why we got David ChewingUpProfits and all other gross Citi executives. They were sent to scope us out and determine what we needed to do make it a desirable merger. I really hope I am wrong but I feel like the dots are connecting.
PP asleep at the wheel. There is no master plan. A management consultant pitched the idea and ELT fell for it.
@b0 I’m glad you got out and found something else. This is the Titanic and anyone who stays will not get a lifeboat I’m afraid.
We are going to be a case study in 3-5 years of how to successfully destroy a company in record time. Anyone that doesn't see the writing on the wall at this point is completely hopeless. It looks more like a ponzi scheme pyramid scam more and more each month. Literal psychopaths are running this place. Look at how they are in these townhalls, they all look like they are on a co-ktail of dr-gs while being drunk on their own power. At this point it either jump ship or go down with it when the other shoe drops.
You might do it if you're fixing to sell it to someone else.
My boss got demoted during ER because he had less than 6 direct reports. Our team was crammed in with another team that had zero overlap with ours. Two completely different, highly specialized, functional groups now under one umbrella. One of the first things my new boss told me was he didn't understand our team's area of expertise or know how to evaluate our performance. I knew then it was time to leave, which I did as soon as I found a job elsewhere.
The whole thing was an arbitrary decision, made because my leader had 4 people on his team instead of 6, even though the move made no actual sense. They sc--wed over someone that has been with the company 15 years and put us all on team that didn't make sense on paper or in reality because some GP made an arbitrary decision with no room for exception.