Thread regarding Northern Trust Corp. layoffs

Our turn is coming

Be prepared for RIFs, every other company in our industry is having them.

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Post ID: @OP+1hNDgLNP

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When do you thing this hiring freeze be removed?

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Post ID: @3Oejp+1hNDgLNP

PWC says Expect Layoffs At 51% Of U.S. Companies
According to PwC, a survey of 700 executives and board members from various industries conducted last month shows:
Layoffs
Definite Layoffs: 51% have started layoffs or are planning to start layoffs
Potential Layoffs: An additional 19% are considering a plan to reduce headcount
Hiring Freeze
Definite Hiring Freeze: 52% have started hiring freezes or plan to start a hiring freeze
Potential Hiring Freeze: An additional 18% are considering hiring freezes

https://www.pwc.com/us/en/library/pulse-survey/img/managing-business-risks-chart-pack.pdf

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Post ID: @ywne+1hNDgLNP

Which departments get targeted with RIFs?

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Post ID: @1pql+1hNDgLNP

"Severance benefits will include:

  1. a lump sum payment of two weeks of base salary for each year of completed service up to but less than 25 years, or 52 weeks of base salary for 25 years or more of completed service to us; and
  2. a COBRA subsidy based on their length of service ...

These benefits are contingent upon execution of a release, waiver and settlement agreement with us."
https://www.northerntrust.com/content/dam/northerntrust/pws/nt/documents/about-us/northern-trust-proxy-statement-2022.pdf

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Post ID: @fec+1hNDgLNP

And we were in trouble even before you calculate in the recession.

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Post ID: @uoc+1hNDgLNP

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