Apparently has been put on hold . I was initially informed that I would be released at the start of the second quarter. However, today I was informed that this decision has been reversed. While I am grateful to retain my position, I must admit that I was looking forward to the relief of not having the threat of displacement looming over me, and I would prefer to receive a severance package should they decide to terminate my employment. I am now concerned that I might receive an IM or one of those unnecessary RTO reports, which they could potentially use as justification for my dismissal. This marks the third occasion on which I have experienced a similar situation.
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@122 How many WIM people can afford that? Seriously, look at Realtor.com. C-suite just wanted out of awful NY.
FWIW, I was told a few times i would get a relo notice and the general date and twice it never happened, and then it finally did.
@g0 you want to revisit your comment about WIM with the announcement today WIM HQ is moving to west palm beach? Lol
There are still around 200 people at WEC and the site will be exited/returned to the landlord in September 2026.
@fq maybe not a growth market per session for the Enterprise, but it'll be a WIM mainstay for years to come. WIM in general isn't really hiring except for a few special initiatives in Charlotte.
However, if you're in STL and not in WIM, I think there's an expiration date. I e. WIM Ops.
@f7 Barry will tell you whatever want to hear. There are 10 total job posting in STL and 147 in Charlotte today. Yes it’s right after first of the year but to think STL is a growth market is laughable. There is only 1 senior WIM leader in STL ( K Ta). All the others are elsewhere & will be working out of the new west palm beach location for WIM execs.
STL is a growing market in WIM. Barry talked about it in the town hall. Just depends on the line of business.
Corp Risk
@op what LOB is this if you don’t mind sharing? I was told beginning of this week it’s still moving forward. Is this new news?
The worst part of this is, those that were let go in the first big set of waves in 2024 were the $h1tty workers and were rewarded with severance. Unreal, those who made it through are now going to be let go because they were in the office for 7hrs and 49 minutes.
It’s terrible! So those who hung on and did the work now face termination without compensation for years of service. Forced rankings and IM ratings are soul crushing to people who had no idea it was coming. As a manager we were always told a less than 3 and now meets should never be a surprise to the employee. I’m just so disgusted.
@bk that doesn't absolve them of their fail on guidance. If anything, it reinforces my argument that this "leadership" team is out of their depth and continuing their track record of failure.
Their strategic miscalculation leads to a policy of more cruelty towards the worker because they can't accurately read the economy, or their own employee's sentiment. This isn't the first time they misread worker sentiment, either. It seems they will never get it right, thus the call for new management. The bank has already paid this guy enough, get a real CEO for that money.
@bd I like your response but ultimately I think they expected more voluntary attrition than they got, but to your point they could account for that and slow down on the layoffs, however the expense would still be there, now instead of the one time severance hit you are just paying salary.
@ap How does a company not properly estimate their layoff costs? They have all the information at their fingertips to come up with an exact number, yet they still underestimated?
Like what, did they accidentally lay off more people than they expected to?
This excuse is the most pathetic blame-shifting I've ever seen from a mega bank CEO. Just admit you're a terrible CEO and don't know how to make money with what was previously a money-printing business before you exited one of it's core markets.
@an SSO??
It's a strategic decision to reduce the cost of severance and instead work people out/fire for cause, even if it's made up. From the top of the house, this is the mandate.
Unless a site is being completely closed, it’s stupid to continue location strategy.
@aj was told Stl is no longer a core location. He wasn’t sure what was happening if people had to relocate to a core hub or grandfathered.
The latest Q4 financials have been underwhelming because they spent more than expected on severance pay. Location strategy is alive; it's just they are looking for other and more effective ways to avoid the severance route, which means you (and thousands of others) could be FIRED instead.
@aj SSO
@ab what group? I’m hearing a lot of this in the halls in St. Louis.
@a6 they don't spend any time reviewing and set up an automated process that emails the individualized report to me and also to my peers. pretty easy to setup.
Well not for my group, we were told my group in STL was gonna be done June 2027 and it has now moved up to Sept 2026 per the wishes of the Hudson Yards Gods.
You mean it’s the third time they changed their mind? How ppls with mental problems lead this big company. Can’t imagine. Time to check out
Must su-k for the managers to have such a low quality of worker they have to constantly remind them to work their full work day or theyll get in trouble. One would think adults wouldn't need to be coddled but thats the modern entitled worker for you. They got to sit at home in their jammies for a few years and now they think its a birthright.
Apparently your concern makes sense. They reverse your release that they might later let you go under excuse not IM.
BS. Still in effect.
The idea of a manager reviewing RTO reporting on a weekly basis with the employee is crazy to me. I've had three managers since RTO tracking started and every one has had an attitude of "the less time we spend talking about this the better. Just don't make yourself into a problem." If I was a manager pulling a mid/high six figure salary I'd feel like such a tool having to spend any amount of focus on tracking people's attendance
not that I have ever been at risk of being flagged for days/hours in office, my manager shares my rto report with me weekly.
@OP
...and if the RTO report applies, they will. Anything to add to an IM they will.
I have now seen both sides of this, being ordered to create garbage to ding people and now being dinged myself. There is no rhyeme or reason.