This message is to our pathetic leadership in CT&O that developed the layoff plan and moves to Accenture and Cisco that were announced today.
As someone who was 'retained', I'm very concerned about the future of CT&O and our ability to support the technology for the bank.
Today you informed the bulk of our operations staff and some engineering that they will be losing their jobs in October. You're saying that many of these teammates will be given employment opportunities with Accenture but here's where your approach is flawed.
- Most of these teammates are going to start looking for other work immediately. Once they find something they will be out the door. There is absolutely no motiviation for any of them to stay and train their replacements. Look for the productivity of these teammates to drop like an anchor as they focus their efforts on getting out.
- You're saying that they will be given employment opportunities at Accenture. Here's the problem with that. They're not stupid... They KNOW that if they take a job with Accenture they're mostly likely going to be laid off in 6 months anyway after they've trained offshore resources in India to do the work. Everyone knows your goal is to move this work offshore and not to keep it onshore. Dan Stephenson had been stating this for months. Any move of these teammates to Accenture will be temporary at best.
- For the people who you are 'retaining', you've now put them in a terrible position. They know they will be expected to do the bulk of the work as we're going to get very sub-par replacements from Accenture and their teammates that are on the way out will be less than productive. These folks who you want to stay, you've now put them in a postion where they're going to want to leave.
What's going to end up happening come October is that you will have lost all your best talent and you're going to have a group of Accenture resources that probably know only a fraction of what they need to effectively support the bank.
It's going to be an absolute nightmare.. the worse it gets the more people are going to leave. You have triggered what will probably be an unrecoverable downward spiral.
As someone who wanted to stay here I'm now rethinking if I want to be part of an organization like this.
I hope you're proud of yourselves.