Numerous layoffs at the bank across the board and many departments. In big money making centers, not back office but associates that manage accounts. Laid off via zoom this morning. Been there for over a decade and they preach that we are one big family. Please. New CFO pledged cost cutting to make himself valuable - hope you feel really great Paul. Going home to your cush house while 600 of us are left to figure out how to find employment during a pandemic?
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The selection was based on...who is not the boss' favorite.
You'll this happened 7 years ago, what made you think it wouldn't happen again. It will happen again, an again.
Well they did handle Covid poorly. Opting to keep us there when showing proactive leadership and going for remote work earlier probably would've improved share performance. It's not like others at the company weren't aware of what was going on. Hope they take giant "cuts" in their compensation for their terrible future insight with that choice of action. An investment based company should really be able to speculate on the future more accurately.
Covid is the excuse?! So they can collect $$ from Gov?
It's open to interpretation but it seems like 33% of workforce if under 500 and over 50
looks like it would have to affect over 1/3 of workforce to be under WARN
That's what I thought. How is it not a WARN event???
So how does this play with the WARN act: https://www.dol.gov/agencies/eta/layoffs/warn
https://www.tampabay.com/news/business/2020/09/15/raymond-james-to-lay-off-4-percent-of-workforce/
?
So much for "unprecedented layoffs" like in 2013 Tom and Paul. I guess just another run of routine layoffs at RJ. What is the press release excuse this time? Not sure you'll get a lot of cudos on #RJCares in the near future either. I know I'm excitingly waiting for the next Linkedin #RJCares posting. Obviously it is a public image lie.
From the names, seems to be old guard, but they will cover their butts with averages of age and $. HR will do their job for the company.
Seems like it was names drawn out of a hat. Some strong performers and some middle of the road, some high salary some low salary
We just learned about it. IT and Ops were hit especially hard. Given who was let go, it doesn't look performance driven which is particularly scary.
Horrible company run by horrible human beings. Tom turned the company over to a sad character of a person. His dad would be so disappointed in him and the company right now. I left a few years ago as it was a bad place to work. Still is. I remember Tom saying loyalty was important to him in a breakfast with the boss. I guess that was just words to a crowd.
Lol RJ got their teams out trying to downvote these threads
This is the first I’ve heard from the bank side. Hate to hear it, what do you think the selection was based on?