Topics regarding layoffs at SVB Financial Group

Topics regarding layoffs at SVB Financial Group

SVB contract positions

Had three recruiters reach out today about SVB first citizens risk roles, no hourly rate, which says they are probably paying under $50 an hour. You get what you pay for…these roles should go for $200 an hour or more.

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| 453 views | | 1 reply (February 7, 2024)
Post ID: @OP+1p9TEy0I

Here is a Good Laugh

That wonderful walking ER issue , Al-a has landed at MUFG to continue her bullying ways. For folks in her group it was the first bit of good news they had. Everyone knew she had to jump ship because she lost a lot in the SVB stock dump. Mark R has to... — read more 

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| 720 views | | 3 replies (last December 15, 2023)
Post ID: @OP+1oSVTbgp

Layoffs!

https://sfstandard.com/business/first-citizens-bank-lays-off-500-svb-employees/

Retention bonus

Word on the street is there are retention bonuses for 10-25k going out to some individuals. Paid out at the end of April and May.. those of us who haven’t gotten a retention bonus, does that mean we’re dunzo?

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| 1420 views | | 1 reply (March 27, 2023)
Post ID: @OP+1lNSsxzj

SVB Files for Bankruptcy

https://www.reuters.com/business/finance/svb-financial-seeks-bankruptcy-protection-2023-03-17/

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| 650 views | | no replies yet
Post ID: @OP+1lGQXEDD

Moody's

"SVB, for instance, found itself with some $16 billion in unrealized losses from long-dated Treasurys it held. As yields rose, it eroded the principle value of those bonds and created liquidity issues for the bank, long a favorite of high-flying tech... — read more 

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| 741 views | | no replies yet
Post ID: @OP+1lEy1xvj

What does this mean for us?

We had the 45 days at 1.5x, now normal pay, but for how long? Is this bridge bank still a temporary thing while we cross our fingers for a buyer, or could SVB actual recover?

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| 1012 views | | 1 reply (March 15, 2023)
Post ID: @OP+1lDKThEA

Appreciate SVB Leadership

As a JPMORGAN employee, I want to thank SVB for all the times they rejected my application. You are appreciated.

Bye Felicia

SVB imploded fairly spectacularly. It didn't make it to the close of business Friday afternoon, which is when the FDIC usually likes to shut banks down. Fair to say this will have a negative impact in SV. Lets hope the damage is contained.

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| 1050 views | | 1 reply (March 11, 2023)
Post ID: @OP+1lz2eYdK

Is SVB becoming the new Wells Fargo?

As people flee from Wells Fargo it seems like SVB is quick to scoop them up. The culture at SVB was really good but feels like it's becoming tainted by hiring so many WF people!

Layoff from svb IT GDB group in mid 2017

Laid off at least 10 people from GDB group and majority are engineers. Lay off happened because management spent unnecessary money and higher a lot of contractors from favorite companies. Severance was good atleast 3 months of salary and 3 weeks of... — read more 

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| 3100 views | | no replies yet
Post ID: @OP+Ra67wwv

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