Isn’t there goal to get rid of half of us ? Why are they giving money like that ?
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@ag that is some director assuming just like they though attrition would be high.
@ag you can hire and lay off at the same time. There’s a group in CSSB that has a task to sever 20% of itself still, and that is 100% independent of the decapitation.
Probably trying to retain the new hires they are bringing in to replace us. Lots if high turnover rates in consumer lending i know
FWIW, I’m a CSSB recruiter and we were told today to expect a lot of new reqs coming our way.
Last I heard, the ongoing downsizing will not be more than 5% of the company again, but the overall workload should increase. The plan was always to pick up business expansion once the cap was lifted
There were two goals. An efficiency ratio of 55 and a headcount of 208K.
The headcount goal was from 2019 and could have been revised further downward. It was also based upon a 70/30 ratio of stateside and offshore labor, which could have also changed.