Starting the year with a big round of layoffs doesn't exactly inspire confidence. It makes you wonder if they've got this planned as a recurring event. The thought of going through this stress every few months is really depressing.
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@OP it is a reoccurring event. Three times a year (at a minimum) for the last five years.
@aq yup. I am already looking elsewhere since Bank PMO told its subsidiaries about how senior/lead PM roles are going to be eliminated to force and isolate PM functions at Bank PMO level, not at business unit ops.
I’ve seen some estimates around 600 people, but can’t confirm personally. 50+ people from AML alone.
@aj first big hit was going to drop in January, bank needs to reduce its workforce 7% by end of Q2, so expect another big hit between April-June.
The bank needs to earn $100m a month, best way to help get to that number is layoffs.
The bank president did announce during a town hall before the holidays… that more layoffs would happen after the holidays.
How many impacted
Some heros on this platform has been saying this for months