This is a terribly stressful period, and the worst thing is that I think that after the layoffs, the stress level will be even higher. How do you even do your job in these conditions? I can't focus on work at all. Tons of work, difficult manager and layoffs hanging over my head.
15 replies (most recent on top)
People’s minds are wrapped up like pretzels. How else can they become ever more worried about layoffs even as they become ever more rare and smaller? My theory is that all are over worked, have PTSD and the thought of a layoff is a negative consequence.
There’s a lot to worry about here but layoffs are not one of them.
I retired five years ago. The majority of upper management in middle office client service delivery in Pittsburgh was abysmal. Hard to believe they got the position.
Honestly no post 2008 layoff has been significant. 2000 to 2008 was the start of forced rankings and 10% of us were cut every year in that bloody banking contraction from Y2K through 2008 toxic assets. These are good times for anyone who lived through that era in banking. Charlie was a pi--r by comparison. Ask around and see how good we’ve had it since then.
Layoffs have been virtually nonexistent for over 4 years but some people are worrying themselves to death over them… all because of these persistent rumors that never materialize. Someday there will be a major layoff but nothing on the order of the 2000 to 2008 layoffs.
Our real issue is overwork and stress and honestly most of us are staying here because we want that package.
Last major layoff was August 2018. Every layoff is major to somebody, but collectively we have not seen a major layoff since August 2018. A 1% layoff indicates good times.
Last major layoffs were NOT 2018. Yes, they paused in 2020 for the pandemic, as the co. was cornered into a no-layoffs pledge, but layoffs were robust in 2019 and resumed again in Jan 2021 in significant numbers.
This is no secret. Severance costs (and associated headcount numbers) were reported to the Street.
To be totally honest these August, September, October layoffs were a lot of hype and very minor displacement wave. Last major layoff is still Charlie’s 2018 August layoffs. Even they paled in comparison to the real layoff era 2000-2010. Nobody here seems to remember when we had major layoffs.
No worries about Mellon being sh-t… Mellon hasn’t even existed for 15 years.
Find a new role elsewhere. Mellon is sh-t. You can do better. You deserve better.
I think the most stressful part about it is that you just don’t know if you’re next on the chopping block. I’ve seen some strong performers get let go simply because they were in the wrong role at the wrong time. That is, a new manager came on and hired more expensive people and screwed over the current team that has built strong relationships with any business partners. I’m seeing that right now which has accelerated my drive to find something else.
Stress is off the charts. Do more with less. Work smarter, not harder. Layoffs are coming and you’re next unless you work around the clock. We’re all waking up to and really missing the Todd era with its Job security and lack of layoffs.
The execs may work longer but they are compensated very well. That’s the difference.
Remember the definition of insanity. .
I just keep on hanging in there hoping it will get better. So what if my days are 11 to 14 hours? I hear the execs work even longer days, so why should I complain? Some day some one will notice my hard work and I might get promoted.
Thoughts:
- start your job search. Reach out to anyone in your network who may know of opportunities and call any headhunters you’ve worked with or heard from.
- focus on what you can control. You may be laid off or you may not, so there is no use worrying about that beyond being attuned to signals from your manager that you’re in obvious jeopardy, in which case you need to step up your search.
Use some of your personal time to do stress-relieving activities like physical exercise/exertion and other things that bring you calm.
There are ways to keep yourself from getting caught up in the work drama. View it all as a play or TV show… you’d be surprised at how this helps. There are characters and moments that will make you laugh over the absurdity of it all. But it will also keep you from getting sucked into the vortex.
If you can afford it, look into therapy for help processing it and slowing down your mind.