Finding out about layoffs bit by bit is destroying my nerves.
10 replies (most recent on top)
Scare effect
https://www.efinancialcareers.com/news/2023/05/morgan-stanley-layoffs
any idea which divisions are impacted?
It is happening. People let go last week, today and tomorrow.
Consultants let go previous week. There may be some casualties this week. June is reserved for FTEs.
All the brown nosers and paper pushers will be retained. The EDs are clueless.. It is high time MS look at what are the last quarter/month deployments/deliverables etc and retaining those resources rather than going by stupid lists prepared by some clowns.
My understanding, 6 weeks ago MS commissioned an audit to identify leaders. Each MD/ED was tasked with a leadership coloring book. It was leaked that not a single MD/ED could color within the lines. This led to extreme frustration, and the blame game started. In the end, MS management ( the auditors refused to use term leadership) realized that they wasted millions on leadership training, and now must recoup their cost. End analysis: Top heavy with un-qualified MD's and ED's. Management style more inline with dictatorship. Rewarded/promoted based on self-promotion (Never saw so many self-promoters and back stabbers). There is little to no teamwork, direct result of no leadership. Waldo is easier to find than a leader. Cuts will be VP's and below. They decided to double-down and continue without leadership, maintain the incompetency and always keep the employees in fear.
It's HR 101 see "Kurt Lewin's change management mode"
You're just being 'unfrozen'. Don't read too much into it.
Happens one or twice a year (save for the pandemic years). Nothing we can do really. Hope for the best and plan for the worst.
Really says a lot about how toxic the upper leadership is. They know that we know but then just send out "May is mental health awareness" emails. I'm ashamed to work under these people.
Based on what are they deciding which Analysts/Assoc/VPs are being let go?