about 10 colleagues was told the were let off, severance is 2 weeks for each year of service
298 replies (most recent on top)
You would think they would tell us something like a date to come back !! Instead we all left there like we were criminals that was horrible disgusting to treat us all like that get your things and leave. We all woke up going to work thinking nothing of this and next min we were basically fired without a warning nothing. They need to step up tell us when to come back !!
So it seems they think all the affected employees living in Michigan and only file WARN notice in Michigan whereas in New York State they did not file any WARN notice. This is ILLEGAL!!! They cannot lay off more than 50 employees in NYS without filing WARN notice, any day delay means they have to pay the employee. Please file a complaint with DOL and also please contact your local congress office and senator Elizabeth Warren who will investigate this terrible layoff!
I doubt this bank will exist after 5 years or so. All the c-suite executives are transplants - they are here to flip the bank and go back home.
They could see them sell off the whole retail side to another bank like how Chase bought Bank of New York branches and the rest went to Mellon Financial to make Bank of New York Mellon. Part by part the whole thing will be sold off. I can see it.
If anyone knows the link to Reddit thread or quora.. share the links here and make sure it’s working for us!
OTTING, you should be ashamed all these people have families you obviously don’t give two sh--s let this be you?? How dare you do this right before holidays make people worry on how to make ends meet. People have years invested in this job and this is what you do ? How heartless can you be. You leave each branch in a mess that’s what you did !!! You need to give us all back our jobs do the right thing save your name ! And treat people the way you would want to be treated. I don’t know how you can put your head on a pillow at nignt knowing 700 people you basically told to get out read all these post that alone should make you think on what you had done. Fix it you can before Nov,1 this was horrible.
Does anyone know why Flagstar didn’t file a WARN notice through NYS? More than 50 employees got fired in New York but they didn’t file a notice. I’m going to file a complaint when the office opens but aren’t they supposed to file notice if they have more than a certain number of full time employees and considering the amount of people let go? In Michigan they made sure to do it but not NY. If someone could clarify that would be great but regardless I’m reporting.
F—- U FLAGSTAR
It’s a complete sh-t show !! They need to cancel the termination!!! Have us all back before Nov ,1. This is not saving them money this was terrible to do this. Management needs to speak up in our behalf instead they have who ever is left work over time work double the work this is supposed to be a team than stand up for us !! I know if I was there working still I would do what ever I would need to do to get them back no one is stepping up.help us people have families just like they do!!
Organize a bank run like Silicon Valley >:]
As a customer with large portfolio with Flagstar, I am moving everything to Chase after my banker that has served me all the time got laid off, I am helping her get a new job in Chase too. Bye bye Flagstar, you deserve to fail after treating your employees so badly!
Technically the 700 people are still actively employed till Nov 1st. Those who stay should strike to help impacted colleagues get the job back. All they need to do is cancel the termination. Need to get it right before too late!
CEO needs to get our jobs back !!!
I am not sure why CEO Otting said most of the roles were redundant or duplicate! My team is extremely short of staff and we were stretch so thin with too much work and pressure from above. All of us have to work overtime and weekend without pay. I am sorry for those who stay, now you have to work even more for less pay!
Give these people there jobs back !!! This is only gonna get ugly
We all need our jobs back and they need to make that happen not just treat us like this
I did find a reddit community under r/flagstarlayoffs but there’s not really any activity in there.
“We launched a transformation strategy earlier this year to drive change throughout the organization,” Otting said of what he called “right sizing” that includes “impacts on jobs” and cuts that he believes “are essential for strengthening our financial foundation and building a more agile, competitive company.”
He said “these reductions will not impact our service or progress,” noting “in many cases, roles were similar or duplicative.”
I’m a current employee and I’m absolutely devastated that coworkers I’ve worked with for years have been let go, same day with no warning. The company wants us to pretend it didn’t happen and lie to the public. We have been waiting for a raise that was promised for two years now and instead they tripled the work by implementing unnecessary work tactics and letting go employees. When asked about salary we are shut down and told to follow up on it another time but it’s just a repeating cycle. Some of us can’t just up and leave, especially those of us that have our retirement here. Please pray for us, I wouldn’t wish this on anybody.
Someone please start a Reddit/Quora/ review on Indeed/ Glassdoor and whichever you know!
This bank messed so many peoples lives!
Do everything you possibly can to let everyone know!
Wow so the Manager’s ? This is so upsetting so hurtful Not a warning nothing smh. The ones we trusted looked up to . I am just beside myself right now.
An assistant manager (no region mentioned)- yes I knew a week before what was going to happen!
Someone should start a reddit thread!!!!
For that manager who called out an employee for being lazy while working 24 hours caring for an autistic child and trying to meet sales goals for the bank! I’m coming for you! One shot right at your face and try to focus on your work you fu--ing bi--h! You nasty bi--h!
Hi I am also a loyal customer since it was Richmond county Savings bank !! Can’t believe this and what I am reading here. What kind of bank has this become !!! Disgusting !! They made this bank go to sh-t!! Shove your high yield up There as--s !! Get these people there jobs back Dam it!! How can they sleep at night karma to who did this to these amazing employees! I don’t want to bank at a Bank like this anymore or my family ad grandkids as well this makes me sick to my stomach, to all these people stand up be heard don’t allow them to do this make it known I def will be spreading the word shame on them. My thoughts and prayers with all of you .
Sales force , that’s all they cares about for us to kicked down !! Now they have floaters going to bank to bank like crazy with no one left to work what a disgrace that’s awesome. Everyone stand up be heard !! Call them out so we get our jobs back with something. This is bullsh-t the treatment alone !
Even Rally something has to be heard !! Strike what ever it takes they did wrong by everyone !!!
I agree with a Strike !! This bank is so unprofessional its ridiculous and everyone needs to know this !!
The fact that employees didn’t even get raises for years that they were promised and giving dates on when to expect the raise of when it would happen and then didn’t receive a penny followed by them letting go of 700 employees….its mind blowing!!
I am in let’s all do this !!!
Let’s strike people !!!! We need to meet the day of everyone needs to show up we need to call the news get them involved !! We post on here when and where so no one says there name. And everyone shows up
I hate this place. We still don’t know if we’re going to have jobs after November 1.
This place is ridiculous. They told us about selling off the mortgage division months ago and yet not a word from management if we get to keep our jobs or not.
Shame on you Flagstar!!!!
Does anyone have any ideas for how we could organize a strike? I am so upset about how this has all gone down. I also feel like if we could get the news involved too it would be even better to draw attention to how horribly people have been treated.
I agree with who ever wrote the post about a strike I am in !!! Let’s do this do not allow them to get away with this !!
Everyone needs to fight here !!! All do a strike make it known out there what they did to all of us make it loud and clear to get our jobs back it’s just the point now people lost jobs with being told as of
Nov,1 is last pay period!! Some got nothing because they are there less than 6 months can’t even get unemployment!!! It’s absolutely disgusting and can’t allow them to get away with this. Make a plan let’s fight together people lost benefits have kids signal parents ! Worst part it’s the holidays !! This has to be done!!!
I am also an Assistant Manager and got laid off after working 7 days the week before to tie up some sht at the branch. This place deserve to be rt in h*ll!!!!
I was assistant manager and lost my job!!! I gave the team my all worked only 3-4 people most days and I worked every Saturday to ‘help’ the team and this is how I was treated!!!!! Few of my friends too that were assistant managers lost their jobs it’s all a f*cking disgrace!!
Isn't it fishy none of the manager/assistant manager/execs got laid off?
Something just reflected to my mind! I personally found customers to the bank but those accounts were opened by supervisors and assistant managers/ manager.. so they got the credit for keeping their goals and not us? New customers can’t be entered in salesforce.. so they saved their job through us.. what a fu--ing mess is this bank!
After over 10 years working here I was laid off in a 3 minutes zoom call. Can't never forget the face of that HR person with a cold blooded voice reading from a script! Was pushed out of the office immediately like a criminal. They don't even bother to let me bring my stuff home. Thanks for treating your loyal employees like they are just garbage to be tossed out!
I am from L-Signature, the culture before being merged with Flagstar was 10000 times better. We used to be a family and I enjoyed working everyday, now it is just a he-l hole! They get rid of almost all of us and what left is just a handful of people with terrifying prospect. Flagstar is such a cold blooded company that I abhor working here everyday!
Does anyone else who still had a job at this heartless he-l hole want to quit but have no other job lined up at the moment? Feeling so trapped. I seriously can't take another day at this miserable company. I've never worked somewhere that cared so little about people, it's sickening. After the layoffs, there were departmental town halls and a larger town hall led by Otting. All of them with a smile on their faces and saying the same scripted nonsense. They evade questions and give no real information in any responses. When asked what they are doing to boost employee morale after all this sh-t, their response was basically that they are doing nothing and to come into the office more to mingle with coworkers. I can't stand this fu--ing place and how they've treated us all since the mergers. Especially everyone affected by this bullsh-t layoff.