Who attended this townhall ? Full of new leaders lead by John Langley.
Everyone spoke about growth across all the businesses but in the end a question was asked on how much of the “efficiency” is related to employee cost reduction and John Langley said 80 percent.
It seems like a lot of teams were reorged under him which means layoffs.
Also the markets COO couldn’t even explain or talk about her slide. Does anyone have any insight into this group?
CIB COO already had layoffs last month but there is definitely going to be more. That Org got really big really fast, and there is def a lot of overlap between teams
John Langley is another over paid mediocrity in CIB.
I was on that call. Kind of feels like a lot of the new teams overlap a lot so I would guess they'll figure out the efficiencies shortly.
I’m in his org. Typical of other town halls, they gloss over any bad news and things like location strategy and layoffs, everything is rosy. Morale is terrible and on my team alone, 65% are intending to leave. Most waiting for bonus, then they are gone. Obviously, some are blowhards, but numbers are frightening. They probably don’t care, just offshore it all. But what they don’t take into account are the true SMEs we have here who are deep into fixing things that you just can’t send it overseas.