Layoffs could be on hold until a new CEO is appointed.
This. I'm guessing we might be safe until the new CEO arrives and starts implementing his vision. Then all bets are off, because as we all know it, most of those visions include savings through major reductions in force.
Conservatives have been saying for years it's G_d, family, and country, in that order.
But when things get bad, they're the first ones to say "move away from your family" and let the "Country" pay to bail out the top .001%.
Head spinning BS.
The bank has to pay the multi-billion dollar fines and legal bills regardless of who the CEO is. I wouldn’t count on layoffs being put on hold. A new CEO might want them done, especially at lower levels, before he or she comes on board so that they’re not seen as the axe person.
Now, the people who report directly to the CEO might want to start polishing up their resumes. They were safe as long as it was business as usual but a new person very well might want their own management team. That shake-up will be fun to watch from afar.
Regardless of who the next CEO, they will be much more of a crisis manager. I would expect layoffs to accelerate as the bank looks to simplify operations. Good luck everyone!
Actually, I despise both parties equally.
But, corporate welfare?
That’s the 2017 tax plan.
Severance on the other hand is something anyone with a lot of tenure would be stupid not to wait on, unless they have a golden opportunity elsewhere. That way if they do have to move, they have the time and money to make it happen.
Not everyone is capable of making the sacrifices required to just pick up and move. They could be upside down on their home, unable to afford rent/new mortgage while paying their other mortgage waiting for it to sell, etc.
For folks that make enough to have legitimate savings, it’s a bit easier to make sacrifices.
Who knows everything can change including our severance packages. They didn’t put our severance package in writing to each team member. It could change in a minute. It is a huge expense. No other bank I know of offers that much severance.
Wrong!!! Have moved multiple times with mortgages kids etc. You casually missed the make sacrifices part. My family and I made sacrifices each time and came out ahead every time. But if it’s corporate welfare you’re into then by all means wait to get laid off. When know where you stand politically.
Not for people who have tenure in the company and stand to get packages of six+ months severance.
People have families, mortgages, lives, debts and it’s not always so easy to just pick up and move to wherever for a new job, when the same thing could happen to them there too.
I gather the “just move” crowd tend to be young, single professionals that can just pick up and go on a whim.
Then move!!!!! Make sacrifices. Better than waiting to be slaughtered.
Every time a poster says how great employment is, it makes it easy to know who they vote for. Lol.
Never mind the numerous variables like education levels, experience, and locale.
As if everywhere you go in all 50 states companies are begging to hire folks to all types of jobs for solid pay and benefits.
“I’m guessing we might be safe....”
You’re like cattle being taken to market for slaughter. We have one of the best employment situations in 50 years. Why nit take advantage? Seems like a pathetic way to go about your career.