I’m committed to ensuring compassionate support for our colleagues who will be leaving the company as decisions are made - JR
What decisions and who is the axe coming for?
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Any Update?
@56t This made me LOL. It's not funny but it's spot on. Heck, when a person's role on our team was "eliminated" they didn't even wait until their remaining 6 weeks were up before posting the 5 day job requisition in NC that was replacing them. They dgaf. They didn't bring in someone younger though. It was one of their sycophants. However, the RIF'd teammate didn't take managements' shenanigans laying down, and now these two dolts are dislocating joints to point fingers at anyone but themselves. I'm just over here trying to figure out who's investigating and whether investigations even matter anymore, or if it's all just for show now with no ethics leader. Who am I kidding, it was always just for show.
For the people defending the MCs ponder this: If you are a MC why would you care about the banks long-term prospects? You likely already have more money than you know what to do with and could easily retire or pursue other hobbies, interests, etc. As long as you don’t end up in jail, why wouldn’t you just try to grab as much cash as possible for as long as possible and then ride off into the sunset? If that means terminating masses of people, many of whom helped you get to where you are, so be it.
I work in risk in Minneapolis and it is worse than ever from a morale perspective. The only thing saving the company from a mass exodus is the horrible job market.
From back in the day when they worked together at the OCC
Maybe, but I’m sure we’ll hire a younger, more vapid, more self promoting, Charlotte-based version of this person in 6 months or less.
Adios
I’m in ERM and have a similar cryptic meeting next week with our dooshey HR guy added as optional.
@50h what do you do?
Godspeed and if you are in Minneapolis and things go pear shaped, see you Friday 2pm at Lyons Pub. Ask for Rusty.
@1qg Just had 1:1 moved to the 15th from first thing in the week… wonder why?
@4zw
You hit the nail on the head. So much unethical behavior and noncompliance going on right now but everything is business as usual. Do more with less, or else.
Jodi shuffled the deck to buy herself more time as her organization continues to flail. It’s a really good thing that the regulators aren’t watching and that the lead OCC examiner happens to be good personal friends with Jodi.
Is there any recent activity to this topic?
By October, management will have greater visibility into year-end financial performance, enabling them to strategically adjust headcount in September and October to protect reported results and ensure key performance thresholds tied to management compensation are achieved.
@wv Last year's Red Wedding announcements were conducted in mid October. If they run the same playbook then look for the axes to chop around October 15-16.
Has anyone in RM&C heard anything yet? Our team has heard nothing. Managers claim the same.
I wonder what her definition of compassionate means?
@n8 same here. We’re sc--wed.
I'm very curious what the timeline will be. Will they keep us through quarter-end? I am thinking early to mid-October.
Reducing the risk BL by 50% would not only strengthen the company’s overall position but also mitigate the significant harm currently being caused. The damage Chief Party Girl has done may be irreparable.
On one of the impacted CRO teams, we all pretty much agree we are all losing our jobs with this announcement.
The announcements also highlight the amount of useless paper shuffling that was happening in JRs department. If you can basically eliminate 20% of your direct reports and not skip a beat, how many company resources have you been flushing down the toilet for 8+ years? Maybe some of your salary should be clawed back to pay for the corporate waste that occurred on your watch.
What was the news? What teams are they consolidating in RM&C? Any chance they'll RIF the executive/senior leadership bloat brought on by nepotism??
Anywhere you have consolidation, you have layoffs. It’s inevitable. I would imagine it will be several areas
I figure if you work for a CRO team in RM&C, Finance, Law, HR, and Ent Strategy - they’re not going to need 5 people doing the same job.