How did we get here?
I’ve worked in this industry for more than 35 years, and this is stunning. Employee exhaustion from perpetual cost-cutting cycles has become so normalized that people now seem to accept it as a fact of life.
I understand capitalism. I understand the need to make a profit. But at what point did we remove the human element from the workplace, all while increasing our use of slogans like "people first" and "we’re a family"?
We've became a sick society.
Things like that bug me. All these layoffs. Then plastered all over teamworks a completely different environment that what we are experiencing in real life and painting a picture to the public like there is nothing wrong.
Whats mentally disturbing is being strung along for a couple of years about location strategy expected to work as if nothings wrong. (Looking for work elsewhere while you wait to be displaced). Not knowing when it'll be. I can't believe they'd think that's acceptable for someone's psyche or mental health to do that. But I was able to get my free cookie during appreciation week.
My last day they said thank you for all you do, and in the same sentence you can feel free to leave whenever you like. Don't put anything in your outlook message indicating what happened today, and the message just needs to reflect that you're out of the office in general.
All these points below and people are still being laid off.
Further, location strategy or a company preference should never trump the ADA or a Dr note. This thinking goes for any business. I dont think a dr would be putting their license on the line if it weren't true.
New York bankers are a cancer that has metastasized.
@ab there were always cuts, but the situation we are in is not normal. nobody is secure in any position in any company any more. it's just plain nuts. your post just proves that we have 'normalized it'.
Focus on reducing risk for your family because it is the only thing within our control. Once the house is paid in full, job loss isn't as big of a deal because you can fill the gap with gig work.
Pay off all consumer debt
Pay off home mortgage
Build a 12-month emergency fund
Its going to take a global financial crisis level disruption to interrupt the cycle and reset things, in my opinion.
If youve managed to work nearly 35 years and avoided cost cutting cycles until recently, consider yourself lucky. Many industries exist in a perpetual cost cutting cycle where they are forced to constantly become more efficient, increase productivity, reduce dead weight, etc lest they go out of business. If you've enjoyed decades in the sheltered environment of banking, where none of those things have historically applied, then good for you but you better never try making it anywhere else.
It'll end eventually, OP. The only question is, will any of us still be here?
Until it has enough of a negative impact on profitability, at best it's staying the same.
As long as we manage to get enough of the right work accomplished and the c-suite keeps on lining their pockets, nothing is going to be better for us.