I am interested in whether these will be performance related layoffs or not.
16 replies (most recent on top)
If you get partially met expectations…you’re likely getting laid off
It seems that you’re an Operations team lead, not a manager. I’m a manager, and will be giving my proper required notice immediately after my bonus has cleared. I have no reason to lie. To restate, your performance rating, your raise and your bonus (if any) were all determined well over a year ago and well over a year and a half before you even had goals. This applies to layoff selection as well. You would understand this if you were a manager and worked with an HR rep.
It’s really not Performance related as the Bank has no real way to measure performance. In fact we’re on a path where coworkers, friends and d@mn near everyone but your manager influences your rating and your manager has no idea what you do let alone how well you do it.
No… so what really is “Performance?” The answer at the Bank is always “degree of friendship”, and It’s not something that any of us have any control over.
Political people… the gossipers, we all know them… they are somehow able to be friends with everyone, work less, network a lot. That’s the kind of “Performance” that is rewarded and only a deep friendship with your manager is more important.
It's well orchestrated ahead of time. Comes down to whoever your manager puts forward. They might select higher earners to save on budget but more likely they pick the people they like the least. Simple as that.
Your performance review feels like BS because it is BS.
@1dvl, you must be a group leader, not a manager. Downsizing hasn't been used to get rid of non-performers in over a decade. It's all based on who's job is moved offshore...errr...I mean eliminated.
@nti+1kBpZtGi - and I hate to tell you, as a manager, that’s not how it works. Nice job on the conspiracy theory though . It’s based on your performance at the reviews unless you have performance or attendance issues prior. then we know where that goes. Get facts before you spew stupidity
Now you're worrying about this? LOL!!!
@kxa You should learn to keep headphones and dark sunglasses on in the subway. It helps to keep the vagrants and riff raff away. And don’t worry you won’t miss out on any imaginary bonus or options.
did any non management employees get an unexpected bonus last month?
Some guy on the subway this morning mentioned after I mentioned where I work said I should’ve gotten a bonus and 1250 shares. I took it literally, can someone verify if he was joking. Beginning to think he was
Anyone else get your bonus checks and 1250 shares of stock last month?
I apologize in advance for being the one to tell you this, but your performance rating, your raise and your bonus (if any) were all determined well over a year ago and well over a year and a half before you even had goals. This applies to layoff selection as well.
Nobody knows or cares what you do and it’s all personal relationship based.
What if there is no review for the 2022 year yet
Performance related - there is the question. Given last couple of years promotions have had to come at cost of setting the promo candidates as ‘exceeds’ and putting other peers in the team as ‘partially meets’. And then promo salary and comp increases have had to be ‘self funded’ in technology. I.e. taking $$ from others in the team to fund the promotions at a $0 net change of managers comp budget. So poor people who were tagged as ‘partially meets’ last year to fund promotions of their peers, are very likely to be part of the layoffs here..
So the non-performers win the prize. Wow.
Anyone that got 2 partial in a row are getting laid off. All others are chosen by manager.