This ks what is wrong with the ineffective, meal and EM culuture-poisoned execs. We are losing necessary professionals that are necessary for our growth plans - like traders and business line experts - through a policy of encouraging attrition (what else would you call the ‘21 YE salary treatment) and the id--ts are justifying it bc they have too many people in redundant fields. Why not be more selective in their approach to these policies? Now as we try to refill the necessary positions no one wants to join bc we pay abhorrently low for any position that requires business expertise and experience (again a problem with the id--tic notion of employee fungibility) and so we are going to have to increase our offers. In the end we will be paying more for the professionals we lost all because DW and the execs in Dallas are completely out of touch and deluded and full of themselves and can’t bother to make bold (by EM standard) decisions that involve a tiny bit of thought. These id--ts should be ashamed and investors should be alarmed.
2 replies (most recent on top)
OK Hotshot!
You are coming from the same false starting point as the EMIT folks who think the company depends on them as individuals holding the only source of a special skill set.
Traders and business line experts are replaceable just like any other position!
Attrition and Turnover is good and is the plan. All roles. All levels or the Org.
It will enable transfer of more roles to low cost structures by a combination of recentering away from US and other high cost locations, drawing down headcount for increased work product per person, and replacing old overpaid stuck in old culture employees with fresh external talent (visibly happening at board and Sr Exec level already).
Extreme structural cost cutting is what has to be done in a sunsetting business. It is the future of the company.
Blame the consultants.
DW didn't do any of what you say.
or what anyone says.