They really had the gall to say they’re keeping the door open for layoffs if we hit a recession during the quarterly earnings townhall. The same townhall where they touted how well the company is doing and how they’re so proud of the results that we’ve all worked so hard for. They mentioned that mortgage origination had experienced, or will experience, layoffs being that the rate environment isn’t going to allow for much growth for the foreseeable future. The same mortgage originators that probably made them a ki----g during the last two years. Use and dispose. Incredible.
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Big RIF coming in November
November. Layoffs will be announced.
Sadly, the ink is dry on “who” will be impacted. There will be a reduction of 25%. Huge hit in Mortgage, where the people who made them money will go. Then, Mortgage Ops will be turned upside down. Those who make the “cut” (the CHRO’s words) will be asked to take additional tasked in with NO incentive.
Buckle up, BOK. HR will be making you redundant very soon.