Rumors of EAA layoffs...rumors
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What’s EAA?
@aq the thing about this is is that employees DO know all of this. It's not a secret especially not with India doing a press release about the GCC the bank is looking to build. That's 3000-5000 FTEs gone from the US. It's a large part of the reason that morale is in the toilet and has been for the last few years. Employees know. But they also know that it's literally everywhere else, so everyone is just trying to ride out the terrible job market in the hopes that the pendulum swings back the other way.
There were questions in the last all hands directly targeting layoffs for offshoring and they skirted right around it and refused to answer the question.
Offshoring is the least of our concerns considering what's going on with Claude. That has the possibility to absolutely decimate the white collar sector in the next 12-18 months and there's nothing anyone can do about it.
This leadership is hardly capable of doing anything stealth. Everything they do is like an open secret because exec, senior and middle management are eating away at the company like termites. Been like that for years even before GK but gotten worse under her.
Look at Jack Dorsey (ex-CEO and founder of Twitter) who axed half the employees at his new company, Block. He knew it was going to be painful but had the guts to take ownership and rip the band-aid off instead of chickening out with a few layoffs every month. He explicitly stated that he was trying to save the company from poor morale and confusion. Now that is a CEO I can stand behind!
The company is effectively executing stealth layoffs. Roles are being eliminated quietly to avoid triggering a broader reaction. The intent appears to be maintaining short-term productivity while transitioning work offshore. If employees conclude that the end state is the offshoring of most domestic roles, engagement and discretionary effort will likely deteriorate rapidly.
So 2 leaders gone in 2 weeks? Are more people at risk?
Amborish said no layoffs and then the next day a department head is gone.