Anyone have any knowledge of location strategy for 2025? Is it still a plan? No one seems to know anything. I’ve quit clicking on this site much for that reason.
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I don't understand the "waves" in this location strategy. Are they continuing by cutting from departments or cutting smaller hubs? Both? There was just some ambiguous message from corporate that points to more layoffs and mentions "location strategy" without actually defining anything. I'm in a hub but not a major one. It su-ks to constantly be wondering when/if I'm getting let go.
The waves won't end until employment in the US does.
Wave 3 likely in January. Wave 4 in April.
I've seen comments on "why not go get another job?"
Here's why.....I'm not willing to relocate my entire family for my job. That being said I still like my job enough to do it until I get laid off and get some nice time off as a longer term employee. Rest and have fun during the 60 days, then look for another job.
That being said - I'm not complaining about the situation either. It is what it is.
Location Strategy is by site size. Smaller sites and remotes are being hit first. Bigger sites will eventually be impacted. Those in large core/specialty markets, but not for their LOB will be hit later.
You can drop the "possibly". It will continue on until all the hubs are gone.
I was given my Location Strategy options in mid April and declined to move by mid May. I then worked with no additional info until I was given my working 60 day notice in July. Finally finished in mid September. It is not a fast moving process. I’m also not sure whether working the 60 day notice is better or worse than the immediate cut. It’s less shocking, but boy, are you ready to go at the end.
Once you make it through all the emotions that come with this experience, you will be just fine.
It is very much a thing and will be through 2025 and possibly beyond. There have already been notification and terminations from relo strat this year. Managers have backloaded them into 2025 to push off the pain as long as possible.
If you aren’t in one of the designated go forward markets, it’s just a matter of time.
Location Strategy will be an annual excuse, err, justification for layoffs until I&P and HY are all that's left.
I'm in a part of Commercial Banking, and we first got wind of it at the beginning of this year. Then later in the year, we were told it would probably be early 2025. Then we got hit with it in early August. I declined the relocation offer at the end of August, and still haven't been cut - so like everything else at this place, it's a cluster.
I understand the remaining people have been getting extensions approved due to role criticality. I have also heard from those impacted they do not known when the hammer will drop. For some reason they same people just don't go get a new damn job.
@rcr+1veC3WLN Your experience speaks volumes about the madness of this entire situation. Offering you a counter promotion to stay, while also not being able to guarantee your job security due to location, is the definition of corporate insanity and dysfunction.
I don’t doubt your story for a second because I have seen some people get promoted recently that are not in hub locations. And yes lower level managers seem completely oblivious to any details about how location strategy is going to be implemented.
I was told not in core market not in hub q1 2025. I’ve since left and know that executive level mgt doesn’t care that folks are leaving or concerned about the messaging around the “location strategy”. What I will tell you is that when I left I was offered a promotion and more money to stay, however they couldn’t guarantee job protection. Not all situations are the same but take it for what it is worth. I know that a lot of trolls roam this site and push false info to those of us who are just looking for the truth. Hope this helps.
My manager said no updates since the announcement at the beginning of this year, then he asked me if I knew where to get a job.