Can someone please share the directives coming down right now? Every leader seems even more in a scramble this week than the last 8 combined.
Yes it’s clear layoffs happened this week, but it’s something more. I had vaguely overheard, I was trying not to be obvious, about a directive that was given from HR about a RTO mandate. As in some directive about a larger mandate to ensure employees are in hubs and not remote. What is going on? All of us see and sense something.
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@af LOL. It’s as if someone said “I have an idea… hear me out”
@ae that's why I made the quip about the soulless PowerPoint.
There is now shareholder faith, there hasn't been for years. The analysts see right past the fluff and b.s. of GK and her MC. The only strategy they have is reducing line item expenses and gaining "efficiencies" by reducing cost. The cost being employees.
How they plan to get to a Cat 2 when they won't invest in technology or talent, I have absolutely no idea.
@ad I understand the long term goal of Cat II, I also understand the medium term goal of financial and operational alignment for Cat II, and the short term goal of shareholder trust that’s falling fast.
What I’m struggling to align is what the he-l is the strategy here? I know of colleagues laid off who walk and talk a lot like me, or the next guy. Are we just throwing darts here? I stay very connected to cause and effect and this one is all over the map. Or so it seems. You have to live under a rock to not know that roles are being replaced in hubs. But it was only recently and a bit alarmingly that they started dropping individual people like flies. So for me, I agree with OP in trying to see what was the ask here.
@ac Category 2. It would put us in the same arena as Jp morgan, BoA, and the like.
Reading through this post and the comments though, does nobody pay attention to anything that goes on here? I'm not an overly involved employee but at least I know the basics of what this company is up to. The strategic vision has been hammered into our heads via the same recycled soulless PowerPoint since May. The fact that there are even questions about this is truly mind boggling to me.
What is a cat2 bank?
@a7 this also isn't new. They've been laying people off and reposting their jobs for way less pay, and hub required for months now. Anyone who has tried to look for jobs internally knows they're all required hybrid unless they're a role that's Salesforce or something else that's approved remote. I've been told point blank by leaders that hiring remote isn't a thing anymore and that was late spring of 2025.
@a9 we literally just announced we're making the moves and acquiring BITG last week. This isn't news. We're not merging with anyone. GK is trying to get to a Cat 2 bank status.
My guess? Merger or being acquired by another bank.
@OP roles being eliminated and being reposted at Lower job grades (yes minor changes to the job description) and all HR GLD roles a hub city required.
I literally just had a conversation with a leader today and nothing has changed for RTO.
There is a ton of turmoil in the banking world right now because of the interest rate caps, on top of the usual shenanigans of layoffs. With the rate cap talks I'm sure it's got everyone scrambling to identify impacts should it actually come to fruition.
I'm not saying that there isn't something coming, but everyone is overall anxious and this is the second time I've seen a post on here in the last month claiming they can sense something is off and leaders are scrambling and nothing has happened.
Yes please let us know bc I just resigned a lease.