Got the news yesterday. Last day is 1/31. I'm part of Wealth and about half the team has been wiped out. Doesn't really seem to be a pattern/reason as to why certain people were selected to stay vs get let go. I guess McKinsey logic.
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Post ID: @3grg+1qEgzvDm Yes. More will be notified starting Jan 22 until March 31.
@3oan+1qEgzvDm You say people affected were already notified the wk of Jan 15th? Are more people going to be notified tomorrow? Or…not until around Feb as a next layer?
Post ID: @1blc+1qEgzvDm Yes both MDs and Ds week of Jan. 15. Layoffs went as low or as deep as 8 layers below Jane. So if you are or were a people manager and starting from 4 levels below Jane in PB and Wealth you have a good chance of being axed because of MDs reporting to MDs reporting to MDs then below that Ds reporting to MDs, Ds reporting to Ds etc..
Thank you for sharing Brave soul
Any MDs let go in Wealth?
So sorry to hear.
Sorry to hear. They let go some great Talent.
Thank you for sharing, maybe it is a blessing in disguise when you look back in one year's time.
Wish you the best of luck!
sorry to hear this! Thanks for sharing your experience. Best wishes!
I know it’s not easy to come back to this thread and share the news. Thanks for helping others have perspective. Best wishes, onwards and upwards!
How was the discussion with manager and HR? I’m sure we’ll be encountering it next week and into early Feb.
Sorry Op.
Do you mind telling us how the process went so we can be prepared?
"Goldman Sachs, JPMorgan Chase, and Morgan Stanley are seeking artificial intelligence for analyzing securities, and investments and predicting stock prices and portfolios."
https://www.datanami.com/2024/01/12/consumer-watchdog-report-wall-street-ai-could-cause-financial-crisis/
Sorry to hear. Do you know if WARN pay/90 day notices are provided?
Boston Consulting Group logic
What do you in WM, sorry to hear this news