Chubak is planning unannounced layoffs before Christmas. This is a psychological ploy he used at Citi in order to "keep the survivors in line". Apparently, he is paranoid the people left behind will form some type of revolt against senior leadership. He is a fairly paranoid guy in meetings.
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@2gy I wouldn't go that far. He now has 30-40x more people responsible to them.
Putting this out there bc it hasn’t been said yet, but with ER most of Chubak’s actual power was transferred to Gunn.
@158 Of course those two are butting heads. They are both narcissistic mo--ns who only care about money and themselves. They don't care about associates who are good people let alone each other who are both as crooked as a dog's hind leg. They deserve each other.
@147 In the partnership announcement at the beginning of November, some people interpreted some of the things Penny said as shots at Chubak.
@zs DC is planning to take over managing partner when Penny leaves. It would not surprise me if he started to try to put pressure on the old gal to resign or get forced out before she ages out. Penny made huge mistakes from the first day she took over as managing partner. If she is forced out in some capacity she will deserve it. Penny never deserved the managing partner position to begin with. Penny let a wolf into the firm. If she trusts DC she is a bigger fool then I originally believed. DC only looks out for DC. He will smile to Penny's face and then stab her in the back just like he does to everyone else. He is a wolf, it is in his nature.
@x9 does Penny know he has been asking leaders in Finance about her spending? He was trying to find out what spend hadn’t gone through annual expense planning. Finance leaders had to kindly tell him to mind his own business.
@we I don't know if he is fooling ELT. They knew he was an id--t when they brought him in. They also knew he was full of himself, had no shame, and would cut people without feeling any emotions at all. That's what Penny and the other ELT members wanted. An outsider to come in and do the cutting and not have to live in the community with the people whose lives they just ruined.
DC stumbling through another speech. How is this guy fooling ELT?
They are doing layoffs in multiple groups, less than 500 at a time, to skirt the WARN notice requirements.
You layoff 300-400 people at a time and it gets mentioned in the local St. Louis news. You layoff 1500-2000 people at once at it makes national news and your clients start getting worried.
I very much doubt more layoffs happen before the end of the year, but they've eluded to more happening in 2026, if you know how to interpret the corporate speak in the Amplified articles.
@m1 The firm laid off associates beginning in as early as 2023. Those positions were sent to India. I know for a fact the people I know did not get a WARN notice. We were told take note of the people you see in the office on Thursday. When you see people missing on Tuesday morning those are the people who whose positions were sent to India. The firm also did not provide this information to the public like they did Cascade I of ER.
@n7 thats accurate. Always want to be at the front end of severance package
@f0 Chubak is most certainly an extremely weak leader, narcissist, parasite, and out for himself, but laying off 750 is illogical and unlikely.
I could see him tactfully trying to get rid of a small group to try to surround himself with "yes persons", but we'd be talking dozens at most. Let's not fearmonger.
@OP worse, the package VSP and ISP were given will continue to decrease with each layoff
@m1 somehow warn was avoided for ER. Maybe because of the geographic distribution. I feel like this claim doesnt feel super credible
December 22nd? Isn't the company required to provide a WARN notice?
Unfortunately, I have heard the same thing.
You mean use made up performance management issue to push people out? Don’t worry his direct report, Di W. Is great at that. She will push people that she does not like right out the door. She will probably be the executioner for chubakka.
@fe I've been notified of the same thing.
@f0 , is this a sure thing?
Chubak is planning around 750 layoff announcements announced on December 22nd in St. Louis and Tempe. Merry Christmas to us.
Ok. He can have his assistant set up that zoom.
Bunch of looney tunes! Is the acme brick about to hit you as well..
What? Pls go outside and get air this weekend.
Is this just speculation or do you have a solid source that can be trusted.