Hearing of multiple layoffs today. Can anyone confirm and where?
13 replies (most recent on top)
Debunked. Try again next month and some day you will be correct.
Don’t post untrue layoff rumors. It only stresses people out needlessly. It’s a really sick hobby you have.
Absolutely… someone has a sick sense of humor.
It was just another false alarm. Somebody has a sick sense of humor.
We continue to have great job security in an insecure world.
If ~500 people were just laid off, wouldn't there be at least a couple of posts from some of those affected?
We had one on Friday, and I just heard one of our managers (one of the best) is gone today. This is the Delaware office. That's all I've heard so far.
For perspective, a 1% layoff reduces employment at the Bank from about 54,000 to 53,460… approximately 540 people worldwide. A very mild action after a four years hiatus.
Hopefully the HR poster here that wrote “The Truth” with all of the statistics will do it again. This does appear to be another 1% event. Higher than Todd’s entire era, which was really a nice break, but it seems that it’s another 1% cut.
Just for perspective the 2000 to 2010 run of layoffs were on the order of 10% per year. Now that was a truly horrific era.
I know of at least 15 yesterday
Yes, three this week client facing people that have been with the bank for ten plus years. Maybe they are going to sell Corporate Trust? Would be nice if they sell to US Bank.
Let go yesterday here - not a surprise as they have been trying to get me to quit for about 5 year. WFH during the pandemic made it tolerable. And yes, I was relaxed by a NJ based Indian contractor. In my division, Indians hiring Indians has been the standard for 5+ years.
Who or in what departments in Corporate Trust?
Yes, multiple in Corporate Trust. Personally, I don’t understand what the end game strategy is for staffing. Maybe it’ll take a serious and expensive operational risk event for them to understand they’ve overshot. People are struggling to keep up.