People are starting to talk about more layoffs happening before the end of May. I'm not sure if there's something concrete behind the latest round of rumors or if people are just scared and projecting. Have there been any developments that indicate there will be more cuts this month?
10 replies (most recent on top)
Well one just needs to look at different signs. The number of employees posting for the same role seems to indicate that there are layoffs coming and people are trying to find a job that will survive cuts. The other sign are the recent stories of rescinded offers . This tells you either salaries too high or job is going away. Stock price is struggling. If they try to raise capital that could trigger a run on the bank. The consultants are making decisions . Means the leadership have run out of ideas and soon the partner from McKinsey will be CEO.
For the comment that the bank does not car about your career or advancement. You are spot on. They love to re-org. Each new home you get will be worse than the one you left. You will never be asked if you want to move or take on a new assignment. Middle management tricks upper management into thinking they are doing something with the constant re-orgs. Upper management is easily tricked. Wherever you are in your career, your next spot will be way worse than the one you currently have. The bank strives for employees that are unhappy and beat down. Underpaid too.
Does any workday at the bank exist without talks of cuts? For the rest of everyone's career, get used to talk about cuts.
Think about this. 2 downgrades resulting in a steep stock value decline. Capital issues that they can’t resolve without either raisin capital or reducing costs. That is why there are layoffs,
Can we volunteer to be laid off? This company seems to not care about talent or people wanting to advance their career.
USB is a Buyer, not a Seller. USB is solid and very strong.
The bank needs a buyer. Another bank with better, more modern systems and ideas. A company with a vision and leadership.
Of course there will cuts! That is the only way I make the bank look successful to the stockholders!! No way I will take a pay cut! I starve unless I make less the 10x the amount the last, more likable CEO took home!
When a company is circling the drain, the cuts never end.
Yep cuts coming next week