Reading that layoffs may be taking place in 6 weeks in other threads in GRM. Has anyone else heard this? Any indication of numbers, ORGs or locations?
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@en what areas of Risk do you know?
@en how are they so clueless about the company they run that they need to have a third party evaluate things?
@d7 Compliance, Risk, Regulatory, etc all the departments that are under this umbrella and also all the other orgs that were not impacted now. Apparently the reorg was meant to happen now for these areas, but because these are critical positions for a company like PayPal, they need a "third party assessment" which will take 6 weeks to be completed.
So, total uncertainty once again and zero consideration for employees and their families, as it will happen just before Xmas.
@bp is that the compliance department? Was it all employees or leaders only?
@am not for the entire org under aaron, but we had an update meeting today in my department with all of us
Anyone know if fraud is or has been impacted?
@az likely safe, credit products are growing
Any news on what region or specific organization?
Does anyone have any layoff updates from the Global Credit team under Ryan?
@ax Global Risk Management i think it means
What does GRM stand for? And does this apply to the entire PP organization that was already impacted?
@a2 good to know, I will make sure I will be picked, if not next week already.
What is GRM?
Also heard next round is in 6 weeks.
@a2 those people on PIPs will the first to go. Why layoff when you can fire?
I do know there will be another round in the EU but will focus on managers this time as opposed to team members
@aj was it a people manager only meeting? Asking cause I'm in Aaron's org but wasn't in the meeting. Thanks
Can confirm that same meeting with the same information delivered.
Obviously bs rumours
I cannot believe they would do this again in 6 weeks, unless we are dealing with ruthless, clueless, heartless senior leadership.
I like how it’s an external company further proving leadership has no idea what they’re doing.
Yup ....entire risk and compliance org will get restructured after 6 weeks. Job losses could be enormous and so could entire risk mitigation framework of PP built over decades but it will all be signed off by Pwc or EY , Deloitte or one of those bs snake oil consultancies. It seems we are now really at the beginning of the end of PayPal
My team might be getting re-organized soon, sounded like redundancy was also an option if they can’t justify or find a business need for us? Who knows at this point lol.
@OP Yeah we had some bs meeting. External company being brought in to access and review teams and individuals for the next 6 weeks after that they will sack the people they want to sack now with a better justification I suppose.