C1 is laying off because they want to cut cost, they are scared about the credit card late fees bill that Biden is proposing, if that happens the late fees will be capped and there will be revenue loss. But sadly there are other ways to cut cost, start looking at cost of meetings, having 40 people in a meeting is waste of time, there is a cost associated with it, nobody need Rich’s strategy sessions, 16 hours long attended by 10,000 associates that is 160k man hours wasted, if the cost of 1 hr is $100, the cost to the company is $16 millions, if we start looking at each meetings this way they will start saving lot of cash. When I was there I tried to tell my group they were very unhappy with this idea that you have to think in terms of dollars or cost.
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Disgusting place
About the comment on wasteful meetings, you are right on. It's a culture of the loudest voice wins and you see people clamouring for attention to score points that will help them during calibration.
Everything is gamified at C1. You get points for the number of interviews you take. For some folks, that number runs to hundreds all through the year. How can you possibly do that if you are doing work that has any worth.
Even worse is that most of these meetings are comprised of a select few who want to speak loud and frequently, mostly just to be heard and seen. Makes me want to pu-e. BUT, those folks more than often are raised through the ranks because of their worthless noise. I have had meetings run over by 30 minutes because of this 'look at me chatter'. Just the way it is here.
Yes. Hearing CEO speak is a waste of time.