Massive RIF coming in September, and October. 18% across multiple divisions, and more in CS.
Can anybody confirm this?
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Hard to believe no one has an update since last part of October on any of this? Any word? Any changes on who?
Any update? Holidays are coming up and we know it’s happened before, but wondered if we’d have some more communication regarding M&A or layoffs (or both) before holidays hit.
The date may be pushed by a few weeks. Apparently, there is an evaluation ongoing that may impact the entire company. The evaluation entails selling, or an option of merger. If this happens, expect the number of those being let go to increase drastically. The leadership team didn’t go to Florida to just have a few photo opportunities.
Has the final list been approved? Still “performance based” or other factors/criteria on determining who will be laid off? Still on for Nov 1st?
Just found out that most of the money saved from cutting employees will go directly into the Innovation office, which already has the highest compensation points in the company. More white people making more money. Yay. I am quitting end of this week.
November 1st will see around 16% to 20% let go across the company. HR working on final list that will be approved end of week. The company will be leaning out to support new initiatives, and to ensure Synovus’ leadership receives a full bonus. Rest of employees that are eligible will not get one
Haven’t seen or heard anything yet. Is this timeline and percentage still true? Any updates?
WARN does not apply to GA. Some will get a severance, while many will get 2 weeks of pay. This will boost the company’s green line, which pads the pockets of shareholders and board. Ugly leadership, with a sprinkling of good old boy decisioning.
Is Synovus required to complete a WARN within 60 days of layoffs? Anyone know? If so, has anyone gotten any more intell on what’s happening like who exactly they’re looking at? This is making me anxious.
This number has been updated to just north of 20%. While some get free Nikes and are considered above all, others not under the skater’s half pipe receive a ticket to the unemployment line.
Can anyone confirm this?
Wondering about the validity of this statement since many don’t use the term “divisions” when talking about departments and 18% is pretty substantial. What criteria will they use to determine which 18% will be let go? And other than CS, what areas specifically are being looked at?
I moved it into a post so more people could see it and hopefully answer.