I’ve been hearing chatter about a 12% across the board RIF in WIM and Wholesale. I’ve heard it will impact people starting in June and continue throughout august. Anyone else hearing about layoffs? Any details? I’m concerned that it might impact me.
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Yes I work there and hearing the Same June to august
A death by a 1,000 cuts.
Yup those fines, lawyers fees, and miscellaneous costs of conducting misconduct will surely bring them down.
Good.
Don't worry. They will "care for" team members as they continue their journey to Efficiency and Effectiveness 2020, and cut expenses by $4 Billion. Of course, the $4 Billion they are "saving" will be spent on settling claims, paying fines, and retaining legions of lawyers and PR flaks, not to mention raises and bonuses for Sloan and his cronies.
What is RIF
The investor day presentation showed several businesses were below the acceptable yield. Could mean more asset sales coming
Wealth Investment Management
What is WIM.
Wholesale has been bloated for years I won't be surprised after those layoffs they'll sell off pieces of businesses.