Multiple cuts today in the Small Business Org (originations, project management, L&D, and more). The entire project and process team was eliminated. The entire L&D team was eliminated and more than half of the originations team. This is just the beginning. Associates were given a working notice until the end of August and then severance after that.
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Yes, I was affected as well. Don’t think all the project managers were though. Heard it was based on if you made more than the mid-range of your salary scale. Surprisingly hardly any senior leadership was let go. Go figure….
i was laid off
project management role
but my team of 5 remained
Happened in Retail Bank as well. I was invited to a "confidential business update" meeting and told. Would love to know how many total were let go.
I’m expecting more. I’ve heard up to 15% of the total bank’s staff in segments. Financial performance for the company hasn’t been good.
I would be interested in what you mean by, "just the beginning". Are we to expect more layoffs? If so, how soon?
L&D is learning and development
I heard similar stories in Retail Bank.
What is L&D?