There’s plenty of bad updates here all the time, so if something’s genuinely improving, it would be nice to hear it.
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Schart is living up to his billing by cratering our stock price 20% in 1 month! and he managed to do it AFTER RSRs were awarded! That guy's got a gift, I tell you!
100% if your group makes money, better chances of being able to stick around longer.
@gb WIM is actively laying off. But yeah, probably still better than teams that are cost centers versus revenue generators (like corporate risk, compliance, etc.).
I was able to get an internal transfer in Wells. I think it comes down to which group you are working for. The groups that are actively laying off are super stressful, groups that aren’t because they benefit the company (credit cards, Wim, consumer banking) seem to be better. So just keep your head up. It always eventually gets better.
@bp Yeah, the one bit of good news from the in-office monitoring is it finally got me to put the hammer down on time boundaries. Previously I tried to be at least a little accommodating, but it was easier to start saying my hands were tied once they started monitoring time in office. The inflexibility of the metric trickles down to inflexible personal boundaries for collaboration
People are finally waking up to the realization that they work for a massively profitable company that is behaving like a failing institution (layoffs, cutting benefits, limited raises, forced ranking, austerity measures, etc). Employees are being tormented and squeezed to drive bigger profits to investors and senior leaders.
When they said in office inly counts if you are in office 8 hours I stopped taking early calls with India. Sorry, but 6am is no longer part of my work day. I do hard start at 8 hard stop at 4. Done. It’s better for me because I don’t feel like I have to follow issues to closure. They get their 8 hours from me which is a metric they are laying hard into. It takes way longer to find a time to meet so issues get pushed out a week longer but they don’t measure that so all good.
Lack of regulatory pressure is leading us to massive blow up you’ve ever seen in approx 3 years. Risk is a cr-p$!ow
Until then. Let’s cut, ignore the problems, and move to business growth. Carry on.
Scharf will be retired when it hits the fan.
I got some good news this week. After applying to a job at another financial firm, a few hours after getting rejected for the role I applied to, one of their recruiters reached out to me about other opportunities.