Just heard a rumor from my Manager on mass layoffs within Middle Market Banking on July 11th. Has anyone else heard the same?
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Yep, on teamworks. He's chasing out the old guard...I mean, congratulating people in their totally voluntary retirement. Amazing how all these people just happen to be retiring at the same time right when he wants to reorg. I'm sure it's mostly a coincidence...mostly.
Post ID: @1llk+1nlwC5tM
Would you elaborate more? If possible?
Financial crimes employees have been laid off last week. 7/11 will be the credit teams of MMB and EMM.
If he was CEO there would have been a mandate, no doubt. He's also the grand wizard of RTO. Hopefully SP and Charlie leave together because SP would be an even worse CEO than CS.
If this is true..” "if they die, we won't have to pay sev..."...ummm...I mean "vaccination recommendation plan".”
I have nothing more to say…
I hope it’s not true.
No one sane wants to report up to SP. This is the piece of garbage that came up with the "if they die, we won't have to pay sev..."...ummm...I mean "vaccination recommendation plan".
Fin crimes moving under Scott Powell. Almost official but no timetable yet. Fin Crimes Leaders moving to LOB Advisory teams. Will be a demotion for them. CIB and CB have hundreds of employees, so there will be some layoffs. Not a huge amount from what I am hearing.
The good thing is that is also the day 7/11 gives away free Slurpees, so that should mitigate the pain (for those not HAPPY to get axed, that is).
@eer+1nlwC5tM What more do you know about the front line financial crimes teams?
Commercial real estate seems to always survive....maybe a loan admin may be cut, but they seems to stay on the gravy train
100% true about middle market layoffs on 7/11
Everyone is going to be axed
Can’t wait….plan B ready for about 4 months..
But first a sip of coffee
Hearing layoffs in the front line financial crimes teams with move to SP almost being approved.
CB tech will be decimated with jobs going to India.
Pretty soon, only cssb will be left. Plus credit cards, but they'll be rolled into csbb.
Commercial real estate banking? Those guys never really seem to be affected no matter what.
i am hearing saul has some big announcement coming out today ...