Curious if the bloodbath now over. Didn’t see a lot on here about wealth management layoffs
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What are they going to do with the bonuses confiscated from the laid off folks? Distribute among the ones staying or reward the management for the great work they did? That is the best outcome you can hope for.
It is over for now. It all depends on how much the profit will drop or improve in the next six months. Assume they might need to cut equivalent to 2/3 of the percentage drop in profit one way or another. If last quarter's profit dropped 19%, in theory, some teams have to let go of 19% people, while some other teams have a smaller loss. What is the percentage of people let go in your business? Heard some teams came close to that 19%. Think about how traumatized are people remaining on those teams. For people out, peace out. For people remaining, torture?
WM did layoffs last week, at least in part.