We'll go crazy before this is over. Normally, I wouldn't care as much, I can't stand my job, but have you seen the unemployment numbers and job market lately?
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More like rolling layoffs through 2045. 1-2% per year, ad almost infinitum. Across all large financial services companies. And sprinkle in some consolidation along the way.
I mean USAA is walking contradiction because people are getting laid off for anything while EMGs are just getting shuffled around rather than being part of the layoff. You want an example? Look at credit card and deposit EMGs who have been HR execs from the beginning with degree in HR. Want an example? Look up somebody that rhymes with ORION GRIFFIN
@ac amazing how our HR is paid higher by job level (1s, Sr HRBP, Lead) vs operational folks. Yet, the eff up everything they touch. Reorgs fail constantly, they have the highest WFH percentage relative to proximity to a campus, and in general aren't as intelligent.
There’s been rolling layoffs each quarter or so since 2020
@c9 cue the backlog to be then followed by another OCC AML Consent Order.
Already seeing more work in aml investigations…
Its building up and unless thei ease production goals, it will get tough….
Seems like, they let go of a bit too much…
What if theres more quiet quitters who leave…who will do this work?
Maybe hire more?????????
They need to re-org the EMG’s, terrible leadership!
@a3 if you’re a bank employee, just ask your manager or director, huge reorg is currently going on, the first big hit was end of January with over 600 employees laid off, majority of those were in bank and AML. This is the 3rd reorg the bank has gone through since 2020, the previous 2 reorgs have failed, and odds are this 3rd one is going to fail even worse. Our ED told bank leadership (Mike Moran and CEO Juan) want the bank to get leaner and more efficient with how we work everyday, in other words, expect more layoffs and those left standing will be doing the job of 2-3 people, if not more.
The BBPC & BPO on my team were impacted, guess who picked up there work, me!
@a3 if you have connection with some higher ups, they will tell you there is big rolling basis reorg happening throughout first half of the year. more layoffs inevitable, better to get ready for upcoming storms
@OP where are you guys hearing all this information from? I’m just so curious.