Well I know that my team lost one person. They are here until 7/26. Our manger just read from a script, zero emotions or care involved regarding our team member. He was more annoyed that he had to interrupt his vacation to notify us.
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All the people I knew of that had a 7/26 date but were still online after 6/18, no longer have access. There seems to have been a prioritization system that meant some people were cut off faster than others. Perhaps some were told to hand off certain things first. The cuts included managers, product managers, and engineers, at various levels.
Just from past experience, some probably can't work once notice is given due to security concerns. For example, if were an ISS person with high level access, it would be risky. Retaliation does happen, sadly at all companies.
@1eyw+1t5U4FQr Of course laid off employees are looking for new jobs on company time while working their last few weeks. The decent thing to do would be to pay severance and allow them to be paid through their termination date with it being a nonworking period.
Post ID: @1yvr+1t5U4FQr Likely they were told to work through their term date or forfeit their severance package. And if you don’t think they aren’t actively looking while there putting in their last days, you’re wearing rose colored glasses.
This will not end until the bank is sold. Companies never exit the death spiral of cutting people monthly to profitablity with high profits and high morale. You might be next.
My manager layed off tooo same last data I am worried about my position all of this is so uncertain feels like I am walking on a thread everyday
so are the folks were laid off working their notice periods, or are they stopping work immediately? There will be almost nothing more damaging to morale than having these poor folks walking around your offices or being on your meetings while they know they’ve been laid off. (Su-ks for everyone else too.) For God sakes, just give them the time, pay them, and let them get their job search is going in earnest.
No, there were plenty of people who were in hubs affected as well.
I’m so sorry for all affected. It could be any of us. Very curious which divisions and if all affected happen to be remote?
HR is holding our department mid year reviews for a few weeks.
Also confirming 7/26 for some. Immediate for some. At least 2 in TOS deep under Peter Carrara. The ones I know about were remote, but I do not think remote mattered this time. There are a lot of remote people.
Management says they don't know of any further rounds of cuts, but I think that only means their own managers haven't told them to make any additional selections at this point. I think the decision from a few years ago to move to cloud has caused major budget problems.
Just confirming that 7/26 date. That's my termination date. Big surprise today, but with the rumours over RTO coming, it's not a total surprise, having been hired strictly remote and not near any hub.
Which areas/depts?
All over the bank
Wealth Management had layoffs too. They need to make q2 earnings report look good. Expenses lowered is what they will tell analysts.
Heard from reliable source there was around 100 people laid off since last week quietly just in my area and more coming this week. Most were WFH who didn’t RTO and this is not made up info
There will be more this Friday. Each CIO org is doing them this week
We are in TOS under Levang.
Looks like the June layoff rumors were true. What area are you in?
What group/area?