if you're not in a core location you're dead meat, and if your boss sets up any strange 1 on 1 meetings call it a done deal.
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This morning I learned that two veteran, higher up, and well-positioned team members, who I thought were indispensable, were laid off last Tuesday. I'm learning that no one is safe from the chainsaw now that self-selected attrition has tanked.
There is just so much trash on this site.
- Location may or may not be a factor in layoffs.
- Many positions that are eliminated will never be backfilled by off-shore. The position just goes away.
- Many managers deliver the news directly to their team. For my team, I met with each person individually that was displaced. Then I met with the rest of the team in a group setting to share the displacement news.
This is a good point. How is it efficient to maintain offices in all of these cities if you’re not going to utilize them across the enterprise to the fullest extent possible?
Meanwhile, I heard an executive try to explain that “hiring in India is a means to expand the talent pool, it’s not about cost cutting”. Why not use our extensive office footprint across the U.S. as a way to expand the pool of available talent then? Instead of leveraging our reach as an advantage we’re shooting ourselves in the foot once again with this location strategy.
The ax is falling and will continue to fall until everyone sits in India
"Core locations vary by LOB"
Purposefully, I think -- preventing even hub employees from freely moving around within the bank. Another way to drive attrition.
Promise?
Core locations vary by LOB.
I'm a manager that has displaced directs, and yes, it's been me that conducted the meeting. It would be a 1-on-1 unless multiple people are getting termed. How do you think it would work? Gather everyone together so you can announce "hey everyone, we just S canned John. Thanks for your service, now get out of here." What would be the purpose of that? So the guy can do the walk of shame in front of everyone?
You obviously have no idea what you are talking about. Your manager is not the one who meets with you and the layoff isn't done in a 1-1 format. Troll.
People IN core locations are also dead meat, just a longer time horizon. Hudson Yards and Hyderabad are the only truly core hubs.