Another layoff coming..... how far Ally has falllen ever since this new leadership team has joined is so very sad. Time for the board to wake the f up!!! Micheal Rhodes is on the spectrum, Hope is a mute, Lindsay is an absolute id--t. She was hired to drive deposit strategy, then she hires a guy to figure out strategy and he hires a guy to figure out strategy.... still no strategy! A bank with no products. A company with a decaying culture.
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@OP are there going to be more layoffs? Rumors around the office are this will be “reoccurring”
The only reason I can best rationalize as to why this organization remains independent is that potential buyers do not see value…a young person would be wise to find something else to do.
@8n6 contractors don't get the same email blasts as permanent employees. Just like when they send out buyouts. Years ago they sent out the buyouts prematurely before their bosses could talk to them. Those emails are to specific people.
@8sz confirm ive heard of a large handful or so this week. How many overall is not clear. Are they still reducing?
People were notified yesterday. Not aware of an org wide announcement this year, seems to be smaller pockets similar to last year focused on reorganization. It's a shame that it's become the norm and ally is just like the big banks now. At a certain point it's bad management.
@8kk There are always a lot of retirements as we get towards the end of the year. Ally has a cr-p ton of employees that'll be retiring in the next 5 years or so
If board looking to save millions, look at dinosaurs who have done nothing but "manage people or teams" but happened to be there from early days of Ally. Some now exec-level. Ask what have they done themselves? OR better yet, dr-g test them...might have surprise
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@8kk
Hi there,
No i havn't seen " all the retirements the last 2 weeks".
Where are these retirements being posted?
is Ally doing it by email blast?
I am a contractor.. so i never see those type of communications.
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@7zp already started. Haven’t you been seeing all the retirements the last 2 weeks? More to follow this week as well.
Not a good time to try to look for another company
Getting tired of all the waiting....
When do the Buy-Outs (LayOffs) begin??
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@5kt You should have also told him and Stephen Miller that Ally pays male employees a lot less than they pay female employees in the same role. All because Ally's HR queen is on a rampage. We have lost billions in HR related lawsuits because of her. Not sure how she keeps her job.
I actually reported to JD V that Ally is laying off employees and shopping the job to offshore. Let us see what jappens
Stevie Guitar Miller sang it best
@4f3 AIP plus a year severance seems generous for a voluntary offer. Given your tenure, what is different now than how it was in the good times?
Layoffs are coming - a coworker was contacted by senior leadership and offered a severance package of 1 year salary and the AIP scheduled for payment in February. Last working day is officially 12/31/26 - company separation effective 01/020/27. This offer is the voluntary round for staff reduction. Depending on how many take the offer targeted “retirement offers” will follow for those meeting certain conditions. Provided enough staff take the offers no layoffs - if not, Ally will be doing the annual fall staff reduction - 4th year in a row - and likely small resizing in January too.
Ally is a shadow of what GMAC once was, the Sr. leadership under Team Rhodes is horrible after his 2 years with Ally, and the local leadership teams are even worse. I left Ally six months ago and hear from former colleagues daily how bad things have declined. I’m EXTREMELY happy I left Ally after 35 plus years with GMAC/Ally and encourage other to take any severance offer and either retire or work for a better company.
Since I left six months ago, half of my team either left Ally, or took new positions within the company to separate from our failing leadership. So sad!!!
This week our new rewards program launched... loyally. The irony. Send these horrible new EC members back to the failed banks they came from.
@31t that cheerful setup followed by a vague historical reference feels a little too intentional 👀 are you just feeling nostalgic?
Detroit Office is clearing out for Lunch!
Everybody is making their way over to the ballpark to catch the Tigers game!
Plenty of Beer, Plenty of Smiles,
Fun Times for all!
Back in 2023, the layoffs came 2 weeks later
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@p8
True...
But there's still value in knowing if a STORM is a' coming.
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is this conjecture and you want to vent or do you know something, layoffs will never completely end, it's like saying it will rain someday.
I could use the break....
i'm at my LIMIT.
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Tech seems pretty thin right now. Where you hearing about the layoffs?
I don't know about other units but Tech is definitely going to have a layoff with the amount of spending and waste I have witnessed so far. Everyone is trying to impress the new CIO with the last of their ammunition. I am assuming it will be January