#layoffrumor

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Separation package and MEET/DOES-NOT-MEET rating

Are separation packages still being used within the bank?
For the first time I got a dos-not-meet rating during my mid-year review, thinking they are preparing for a layoff without the package - what do oyu think?
Is that true that when you get DOES-NOT-MEET - you are not eligible for a PACKAGE...


Rumored 30% workforce lay offs for IT

India IT manufacturing team has been here on North Campus for the past month. Last year they got rid of the Philippines IT team and moved all their applications to India. confident the same thing is happening again for US owned apps. Also, seems they are targeting tenured but not confirmed.


Have layoffs started?

Nothing’s happened yet where I am, but that means little in the grand scheme of things. The rumor mill is nonstop. Some say cuts will begin tomorrow and wrap up by Friday, though who knows if that’s true. It would be great to get a real heads-up, but no such luck, I guess. If you have any updates, please share.


Congratulations, you’re being transformed.

Great news folks, we are getting transformed!!

Some rumors I’ve been hearing is that the transformation team has been meeting since Q2 to restructure everything; meaning that they are going to announce layoffs in Q4. When? Have not heard.

It is going to be across all BUs and Roles regardless of direct or indirect billing.

So get your resumes ready. Reason being is that they are expecting to have a terrible next year.


Anyone else notice all the leaders at an on site this week?

I noticed a lot of leaders are at an on site this week. I also noticed Ben Line moved over to Optum on Sparq, but they haven’t announced it officially yet… This is for UHC Ops. anyone know what’s going on? Should we expect layoffs soon with all of this hush hush business going on?


Peak

This is how I see things going from a logical point of view. Look up what happens within a company before layoffs. Wayfair is going through a good portion of the list they say to watch for. I think most if us will be safe until after peak. They are moving around a lot of employees right now. If you think you are safe because you are a top performer think again. View the the list. Top performers are not safe. We are expensive. Be careful. They will look for any reason to let us go. They will be letting go of a percentage of us before the new year. Better for the bottom line and more profits for the last quarter. Many more after peak. Do your own research on the signs. Good Luck.


More LAYOFFS

From what I can tell, Novo Nordisk (9,000 employees), Merck (~6,000 employees), Bayer, BMS, Novartis, and Pfizer have all announced major layoffs. Should we anticipate a similar announcement from Illumina soon, or is it more likely in Q4?


So will the cuts reach 10%?

It’s so difficult to catch one or two actual pieces of information among all that completely unnerving corporate fluff. Here we are, having no clue about what will happen with our jobs, and we still have to listen to inordinate amounts of meaningless words. It’s disrespectful, at minimum. How about they lay out the details like grownups, so we can start scrambling for alternatives and backup plans?