Did Saul state a specific timeframe for layoffs.¿
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The 100 affected Wave 1 number does seem low for an org this size, if we are to believe him.
What his comment did reveal is that very few will actually be offered relo and that in parallel majority will be displaced under the guise of efficiency, spans and layers etc. so by no means should that low number be a sign of relief.
Actually, we’re America’s biggest tax payer, and the avg consumer damage by the sales scandal $0.29. The only people really hurt by it were John stumpf and Carrie T
I am assuming he moved the second wave from “fall” to June to ensure the people in the second wave aren’t around for the next bonus cycle. My understanding is that once you are notified, and assuming no relocation, your 60 days starts in another 2-3 months and you will be asked to work your 60 days in order to get your severance.
Anyone working for a firm that harmed millions of consumers and incurred billions in fines and offshores workers is unpatriotic. Period. Management has nothing to offer investors except for layoffs. My goal is to encourage clients and advisors to leave to preserve their wealth and integrity.
Saul's timeline is specific to CSBB. Each division is managing its own location strategy individually so timing and specifics will vary.
Are the wave timelines different if your under Saul or under Tracy K?
The June wave, and it being the final one for 2024, was new.
The question is - Do you believe him?
Re: relo -- he did not specifically address it today, but in last month's AMA he said all those affected would first be offered relo and given 30 days to decide. If relo is accepted, they would have a year to move. If declined, they are displaced with severance. Presumably this still holds, but then last month he said the 2024 waves would be in April and in the fall. That has changed to April and June. So, details still seem fluid. I agree that 100 affected employees in the April wave seems low. Supposedly those who are 100% remote in non-core locations are in the first groups.
How many sips of espresso? How many times did he ask his lovely assistant for the next question?
Did he give a timeframe for possible relo notification.
Correct. He also stated ~100 in CSBB are impacted for an end of April wave. Which seems really low relative to the thousands impacted.
He said April and June are the waves this year.