Amex is over staffed in Platinum from the VP over hiring.
Is he being held accountable?
Of course not.
They are cutting bonuses for reps instead.
Lovely company
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overhired and overstaffed?
sounds like JPMorgan Chase
the main reason for this is so that they don't get laid off themselves
And layoffs are definitely not going to be an option. The company shares will drop.
Instead, they take from the frontline employee's and make life miserable.
It’s clear they are relying on attrition.
@1gkt+1rmfmdMY Probably a sign that the cost of acquiring new customers is going up and up, and that competition is getting fierce and hence sales staff are left rocking their chairs not knowing what to do.
All part of the plan to make working at Amex miserable to cut down workforce numbers without paying redundancies.
Yes, they over hired and are still over staffed after covid.
There are plenty of people that should be fired and haven't been.
Now they are doing the bonus structure change.
It will turn into a disaster in 6 months, maybe before that.
They are cutting a lot of things out. But who cares? Share price is trading $220 USD. I was told they weren't hiring anyone for 2-3 years and now they have over staffing issues. I guess those RTO mandates didn't work in getting rid of their excesses. What a catastrophic failure in staff hiring and workforce management.
Interestingly, their headcount on LinkedIn grew 6% over the past 6 months. Maybe a lot of tenured colleagues forgot how to use LinkedIn given they didn't need to look for jobs in the past 5-25 years.
But...I wouldn't be surprised, VPs at Amex are a highly protected class of people. No extra lunch money for sales I guess.