Now that layoffs are happening and now that most of us (who were not affected yet) managed to see them first hand, could anybody tell if there was any pattern to the layoffs in terms of what group of employees got cut. Are we talking mostly about older employees, the ones with larger salaries, younger ones, a certain type of role, or is there no noticeable criterion for these layoffs?
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Whomever said it was majority WFH EMPLOYEES ~ was wrong & obviously they were not in the office to see ALL the employees who worked in office gathering their few items, leaving & crying!
Most of the layoffs were home Lending, volumes are off 60% and will be for a year or 2 cant pay people to sit on their hands and do nothing
I noticed a high numbers of wfh were let go. :(
CIB and AWM are both cutting by EOTY.
They made decisions off of year end numbers.Tenured people and newer people were let go due to performance issues.
Home lending job cut is the result of economic trend. Less people buying homes, their positions become redundant, therefore, being let go. But that doesn’t stop other kinds of layoffs due to other reasons