I was told this by my boss last week. I'm taking it with a huge grain of salt since low-level managers never seem to know what is really going on. Has anyone else heard this? I haven't seen it mentioned elsewhere on this site. LOB is consumer lending.
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You are right L1 and L2 managers know nothing. The comms is bad and disrespectful to say the least. Even with the location strategy I would leave but the severance keeps me hanging around. They took the wind out of my sails the day they announced the layoffs and now I'm doing the least possible.
In my OC there has not been one exception so far to location strategy. exceptions have to be approved by OC leader and nobody wants to "stick out" as granting exceptions. there's peer pressure even at the OC level.
P.S. re medical accommodations don't exempt you from location strategy since they are all now considered temporary (reviewed every 6 months)
Is Los Angeles CA a core location?
Multiple execs who are remote in Florida. Not a hub or specialty market. Hypocrites. I hope those a holes get displaced.
Every area has their own rules and timelines. Our area is Q2 2025. An adjacent area under the same LOB is hiring remote employees. So wildly inconsistent. Seems to have to do with whether your executive is willing to push back or want to be the star pupil by displacing ahead of schedule.
I love it when people hear something about their team or org and think it's the same across the entire enterprise. Every group and LOB is different. Some LOBs have bigger concentrations in some cities and vice versa for other LOBs.
Last time I checked, Baltimore wasn’t a core or speciality location @commerical banking chief admin office. But seems a certain senior leader isn’t going to be impact. Willlld!
F your office and FHY. Wasteful 20th century nonsense.
I was told there will be no more exceptions. If you have a medical it needs to be accommodated in the office. I heard someone say oh i have cancer but doing all these sports. Okay. I got it when you are getting treatment and sickly you work remote. Other times you go in the office. I see someone come in in a wheelchair every day. Why doesn’t he get an exemption. Location and medical quite whining and get back to the office. Temporary fine. Not fully anything
What if you are in a specialty market? Does it matter?
In a sense, it will be nice when it's over. People get their severance and we never ever have to talk about this stupid excuse for downsizing people again. It's all a pack of ivory tower lies anyway.
But but I have a note from my Dr
@kcr
They’ve sped up the timeline for CB. At least under the CAO, they want it all done by end of 2025. I am impacted by -Q2.
If you don't know if your city is core for your group or not, ask your manager. If you are in a non core market, your job will be eliminated some time in the next 2 years- end of story. The only exceptions are jobs that require you to be in the market to execute your duties (like a security guard). You can decide to wait for severance or start looking now, but don't get fooled into thinking it's not coming for us.
I tend not to disagree with none of these comments.
I don't know the timeline, but they were clear it would be end of 2026 for Commercial and 2027 for Consumer. This from their Jan/Feb 2024 emails. There are many reasons to believe it will be prior (as in 2025).
They'll say whatever they think will save them the most severance. Hold out for those checks. Don't let them off the hook.
I don’t have an exception but told I am being canned Q2 loc strategy. CB CAO under Annie.
It's LOB specific. I know some senior leaders are more hard core than others about it.
Haven't heard cr-p, but considering I will be moving to another group, my (absolutely clueless) manager told me my recently reapproved exception would have to be reviewed by that group.
I said I win either way. Either I get Max severance or I keep working remote. I'm hoping for the former.
continued from below, also in CL LOB
I was told last October that I had a deferment until October 2025 (Software Engineer). My office was closed in 2020 and I have been remote ever since. So this kind of tracks, but I guess will see. Fu-k this company by the way.
good news
I think they are advised to obfuscate and throw out estimates randomly to assure us that our demise is imminent without any details.