Any Managers here with insider knowledge to confirm November layoffs? Have you been asked to provide lists?
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At least 90% of the Bank employees have 3+ years in. Are you in a small high turnover operations group?
@3kvo+1pc7SdPb
Asset servicing
@2kvs+1pc7SdPb
What LOBs that you refer to?
"Can confirm staff level impact, not just $70k + as asked below"
Can confirm staff level impact, not just $70k + as asked below
This time it’s no particular LOB, cuts would be across the groups. Bigger the group (example Operations)larger the cut, only thing on the watchlist is whether they do Senior folks with high salaries or axe falls on mid level management along with production staff.
What area are you in that is laying off the next 5 month
@krv+1pc7SdPb What LOB is this? 10%? WOW
In my areas they are letting go about 5% in October, 10% in November, and 3% in December. January - March will be about 3% each month.
Let us confirm LOBs and teams so people can prepare:
Treasury Services 1% across the board
constant job feat and Robin talking about people and culture...get out of this mess as fast as you can
if you are here 3+ years be careful
Are all layoffs prior to 12/31 given 12 weeks for an NDA, regardless of contribution, with no 401K match & no bonus?
Can you provide more details what the $ targets are?
I don’t consider $70K a year to be lower salaries at all. I raised a family on far less.
Do you know if any lower salaried people, are impacted as well, meaning people who make under $70,000.00 per year?
Yes. The $ targets are steep and additional names have been provided. We would see and hear more post 6th Nov, staff actions would begin. Tough times