The blowback from CSBB announcement made leadership revisit schedule for rollout of others. This is the reason for delayed comms. Scrambling due to poor planning. In short, a cluster.
LOTS of whitewashing and deflection already going on in attempt to cover up the cluster. Employees understandably confused, looking for info and trying to plan their lives.
Note: LOTS of moving-the-line exercises going on right now, so CSBB (and WIM) locations and timeline don't apply to everyone.
It's classic Hudson Yards to invest that much time and energy in something, location, that technology or customer location, has made irrelevant for 90%+ of our roles. It does not matter, not on a functional or expense level. But then again, that's not why they are doing it. It's nothing more than PR 'cover' for eliminating the domestic workforce at this company, with a "awww, shucks, we would have loved to keep them hard working dedicated employees, but the building has to close for economic reasons and to align with our peer banks..." announcement each time.
SVB needs a Property Brothers show where he forcibly moves people to random houses then tells them how "so very good" it will be for them and that "they will see".
"You don't have to like it. We don't have to agree, not everyone agree (sic). But this is best for you, you just have to live here now, it's okay for you. It's fine, you'll see."
What you also don't see or know is that they'll have exceptions for people that are determined business critical. We'll see how that hypocrisy works.
Retain markets. Who trusts that? You have a job but backfills will be in core locations. Does that mean they backfill once someone leaves? Or post a job in a core location and let you go once they are hired and trained in that core location?
SVB's major strength is his ability to set locations for his business it seems. Same with Technology pre-covid. Many more in tech would be gone if not for Covid putting the halt on it. Not sure what else he does. But he sure can pick locations.
Poor planning?!? At Wells Fargo?!?
In Comms, agree it's a cluster.
at least you know and can plan accordingly. better than a last minute layoff like some are receiving today
Blowback simply in response to locations chosen in each of the 3 CSBB sections, etc. Nothing inherently wrong with comm itself.
Rollout of other comms now delayed as leadership figures out how to smooth over approach/language around it.
It IS new news for many -- the locations scross the 3 sections (growth/core, specialty, other) were NOT finalized until recently. This is true for all businesses, not just CSBB and WIM. Lots of exceptions were negotiated in Other section (no backfill or hiring), in particular, and many wondering why exceptions were made to cover some individuals and not others.
what blowback? I don't see how any of this is new to anyone. they have been talking about it for years and if you are in csbb the email and actions it represents may apply to you. seems straight forward. most of the lob CEOs talked about these communications going out in the coming months.
CSBB actually delayed their announcement. They were ready to go in December and they held off for other LOBs to get their act together. By no means am I defending the actions or results, but SVB has his stuff together. They were not going to delay their announcement past January.
Maybe if SVB had a leader that would coordinate this or was an effective leader... But he's too busy strumming his guitar.
One would think that after 4 years at the helm, this executive team would have a clue how to manage something semi-capably.
I’m looking forward to the follow up meeting to clarify the vagueness and imprecision with more vagueness and imprecision.