Batten down the hatches. Enjoy the Holiday weekend. Proof that resume because this one is gonna be yuuuge
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Got an email today about the Columbus Easton Office and Jacksonville offices being closed for maintenance on Friday 10/18. I have no additional information. I will say that I have been with Chase Home Lending a long time and have never seen them shutdown an entire building for the entire day on a work day. Especially as busy as we are right now. Make your own conclusion.
Several took place in Plano and Lewisville on 9/10. Of course managers in other departments played the surprised role. I’m sure more are to come
Several Layoffs in Cleveland today
RIF happening today. Mortgage default at least. People notified this morning
I am sure they rated everyone who made over a certain amount down from last period. The performance system is horrible. But does it really matter if you meet your goals or not?, if management needs to have a minimum % of staff getting raises and a specific number rift’d the ratings will be reflective of the numbers. This is needed to minimize HR discussions and possible suits if the department is reducing staff size. The cuts are based employee rating scores in these situations.
If you are in mortgage, especially servicing , support ops and management, some cuts will be in September and will continue every couple months. Next one after September is January and maybe early Feb. Do all you can to be rated at the highest performance rating. Don’t get cozy with the sales pitch “we try all we can to handle reductions by not replacing attrition”. We are talking about a management team that changed employees job titles and then had everyone re-apply for jobs we already had because it was a “brand new” strategy. It was just so they could lower our pay and prepare for exiting the mortgage servicing business.
Managers always know in advance. Names have to be vetted through HR. They look at history to ensure that people won't be likely to sue because of something that happened in the past. They also look at the demographics- if everyone in a particular location that's RIF'ed is over 40, for example, it looks like discrimination.
NY RIFs starting next week?
RIF’s start taking place on the 10th of Sept. Yes, your manager knows if you are on the list. No, they won’t tell you. You’ll know soon enough. Just a week to go. Good luck.
Tough guys on the interweb are so cool
Vague rumors with no details do not appear credible. If you have inside knowledge please share the details, otherwise don't waste your time posting.