The layoffs will continue until the asset cap is lifted because layoffs are the only way for CS to improve the efficiency ratio and thus get bigger bonuses every year. He isn't ethical enough to get the asset cap lifted, so layoffs are his alternative to doing what we thought his job was supposed to be.
Turns out he thinks his only job is to get bigger bonuses every year by improving some arbitrary stock market metric.
Bumping this for being on point, the original is here: @2out+1qjAA59Q
Charlie has the name chainsaw for a reason. There are those who build companies and see real profits, and there are those who look good by cutting costs, laying off people, out-sourcing to other countries, depleting assets. Charlie is a member of the latter. I was laid off in May '23, back to work in the office at another bank with the sweetest people. I didn't take a huge pay-cut, but due to no more production bonuses and the cost of living, I'm finding it difficult to make ends meet. Most of us took 4-8 months to find another job, while some are still looking. I'm glad I'm out of there, but every company out here is hurting in these horrible economic times. If you find a better job, don't wait on the severance.
Charlie lacks any real leadership necessary to remove the cap, save the bank or stop the bloody off-shoring. God Bless.
The cap being lifted will not impact the layoff plan. That idea that this will go otherwise is nothing but a means to keep people working hard on resolving these issues before they too are canned.