Be careful when deciding to leave. That's all I'm going to say.
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It used to be a great place to work. Now it is horrible. My job got eliminated, but it was horrible before I left. And let's not pretend what a RIF is. It means, your job was sent to Manila. Reduction in force is not real.
Let's call these layoffs what they are - RIFs not layoffs. It gives the department an opportunity to sometimes reclassify and redefine a job, its description and qualification needs.
Layoffs are temporary and job positions are not eliminated while RIFs are a reduction in work force. The main reason for a layoff is that there is not enough work for the employee to do or some other business decision has led to a role being redundant or unneeded at the current time. Employers who issue layoffs do so temporarily, with the honest intention of recalling employees as soon as business picks up. Though layoffs are considered temporary employment termination they can become permanent if the role isn't needed after a certain amount of time and becomes a RIF.
A RIF, reduction in force, is when there is no longer a need for an employee’s position and the termination of employment is permanent from the start. Job position is eliminated.
Example - department needs more clerks but less VPs and analyst's. RIF the 1/2 the VPs and all the analysts and reclassify the jobs to clerks. Cost less in the long run.
Years ago, JPM, then Chase started layoffs that became part of its MO that goes on each year. In the late 1990's early 2000's when layoffs started, they were messengering that staff in the future would be transient or hired for specific jobs that management knew would be outsourced to locations outside of the current city, state or country. Their plan to automate was vast and transparent to employees. The transparency must have been the old-fashioned commitment to employees valued as Chase's greatest assets. As mergers continued transparency disappeared and the great assets were diminished by wage freezes, demotions, reorganizing positions/salary grades and eventually being deemed redundant or that the job position was eliminated and no longer needed.
Flash forward where everyone is surprised when there are layoffs. Well, the work is transient. No job/function stays the same nor does its location. With so many ambitious VPs, EDs and MDs jobs evolve each year as each try to reinvent/automate it and find cheap labor and location. Don't get me wrong jobs need to be reinvented and automation is good but the cost to the human labor is what bothers me. But is it better to know or not know how long a job will last? I think so but employers today are hesitant to tell staff the length of a job for fear of losing staff prematurely. My advice, learn as much as you can but don't expect much training from them other than what is needed for the job and what is required by law. Always have a plan and be a step
Might be the same grass but at least I can weather the cost of living crisis
Is that the excuse you use to make yourself feel better for staying in your comfort zone ? You might as well never eat anything as you could choke or get food poisoning…
I left a year ago after 24yrs and I couldn't be happier. Better opportunities, better pay and the best colleagues I've ever had. I actually enjoy being in the office - and don't ever get crucified if I need to work from home. Grass can definitely be greener out there.
People are on borrowed time. At the end of the year, all mortgage jobs will be gone in America and moved overseas. Leave the job - at least there is grass where you’d be going
Someone fill me in, why be careful about leaving?
It’s not like there is a choice. It’s either leave now or wait to be laid off the business is no where there.
Anything is better than this.