From what I understand, there'll be more layoffs before the end of the week but the only ones affected are various levels of management. Is this true? Did I understand it correctly? If that's the case, then for once, the bank is doing something it should have done long ago - getting rid of the true fat! I'll be delighted if this is the case.
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I've never worked for a company with this many levels of uselessness. Managers reporting to managers, who report to more uselessness. You need one director with frontline managers reporting directly. These old time, useless management class is so expensive and clueless. All they do is attend meetings. They have never added a quality comment to any project or effort. They've been working for the bank so long and never earning their pay. The managers of managers should have been fired decades ago. These people are a complete waste of time and space. Welcome to nimble teams.
How do you know the date 6/3?
Management this round and then after 6/3 it will be the excess left on the teams. This is only the beginning, there will be a second round impacting front line employees too.