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My calculator doesn’t have enough places but 19th layoffs are slightly more probable than the sun rising that day.
This will not only be on Monday. Too many to do in one day. It will carry over into Tuesday & Wednesday at least.
100% I have to let someone go and HR already put meeting on my calendar
What about at Pershing ?
Brooklyn is beginning to “cross train” Florida on basket creation in coming weeks. Expect process to be moved to Florida by year end. Interns will most likely help wind down Brooklyn office tasks as the jobs are moved.
Has anyone heard about layoffs coming to treasury services?
Also, a major client is leaving ETF in Nov and mgmt is trying to keep it hushed. They have not told the team. That is just not right. Team of like 20 people. How is that legal?
100% August 19 layoffs will happen across the globe. Many in Tech, Asset Servicing. Many departments in Brooklyn have been given move dates to new building. Others well good luck. After layoffs Aug 19 & Dec 2 I hear will be moving to Jersey City since no more space left in the new building.
With so many people on vacation, how do they address laying off people that are on vacation? Do they get a call or do they wait until they return?
Managers know the date at least 4 weeks before. When I was a manager, the basic flow was:
- approximately six weeks before, selections are made. “Who do you think?”
- managers complete a spreadsheet explaining how the employee’s work will be re-assigned, etc. (Comically, you have to limit your explanation to a one cell in a spreadsheet.)
- a meeting is held where managers are briefed on how the notification will happen. The meeting is quiet and mostly the HR person talks. There are seldom questions. A script is issued, and they are told to memorize it.
- on lay-off day, the manager goes to HR and they ask the employee to come to HR. For remote employees, a phone call is made.
100% chance people will be let go on the 19th
4th qtr 2019.... there will be layoffs globally..... 300%
10%
90% August 19
10% August 26
110%
(Still giving it my all.)
Love, Charlie
12% Monday
23% Tuesday
40% Wednesday
20% Thursday
5% Friday
50 pct