Don't be naive to think this is it. Restructurings never last just for a week or two. They drag on for months and usually include several layoffs. While I don't have any inside info to claim this to be true without a sliver of a doubt, I'm just using common sense and my many years with the bank to make this conclusion.
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The chiefs at this company are so stupid. This is not a destination company, it's where the useless spend their careers. Good people leave after a year or two. I feel sorry for new trainees that don't move to a destination company after they are trained. At the end of your second year, a trainee should be looking. More money and respect at other places. Happiness too.
Restructuring is just beginning for us as they just started with round table discussions on who to keep and who to lose and they need to cut a good chunk. No one is safe. It’s disgusting.
I think you will see some of that fatty layer of unnecessary middle management go by the wayside, which needed to happen some time ago. This is a good thing, it puts us back in alignment with how the bank should be running. Eliminate some of the chiefs, and let the Indians get back to work. Let’s see who can consider themselves true leaders and apply this philosophy. It’s going to be an interesting 2022 that is for sure.