So where did the across the board layoff mandate come from? Was it from Juan? Is the company's financials on a nose dive? If it's company restructuring, who's the visionary of all these? If it's org restructure, why is it that most teams remain as they are but the head count is reduced?
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In aml it will be a cycle. We are already getting hammered with extra work from those layed off and we will eventually be in a backlog and the. People will leave due to stress and here we go!
Backlog city!!!!!
These transformations don’t seem to ever yield many improvements, only chaos. Just let everyone work on their stuff in whatever configuration. You hired smart people, just let them do their thing.
Yep execs can't think for themselves. Consultants can get more $ if they advise cutting. They can get more work after the deep institutional knowledge has been laid off. The more brain drain the better for consultants ...
@a2 great summary. Yes
Just think of Juan and the company core values: Honesty, Integrity, Loyalty, and Service.
Blame the 3rd party consultant the company hired last year, BCG (Boston Consulting Group), and who works for them now, ex bank President Paul Vincent. For the bank, this is now the 3rd restructuring/transformation it’s gone through since 2021, all because they listen to 3rd party groups, and each time they hire a new one, all that new group does is blame the previous one for the bad decisions and implements its own vision.
The mass layoffs yesterday in bank, it’s going to blow up in their face, like the prior transformations have.