Why March 3rd?
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@e9 AXP had a record year. The platinum card refresh was a huge success based on every article I’ve read. Where are you getting your info? SMH
My guess it they spread it out so it's not a bigger deal in the press. Expect every reason under the sun to justify (like stats from secret productivity tracking). Good luck if you are not turning widgets every minute of the day. The 3rd is all over the bank right now. Who knows? Not sure it's important. More is still on the way regardless and might be throughout the year.
3/3 .. Because its 2 weeks before earnings announcement. Look at credit card companies, AXP COF. Not good. How about private credit companies OWN, CG etc. How bad will it be? I am sure the prelims are bad. So right now CS is figuring out how to play his first card "his efficiency program" card. How to streamline the organization like EBAY. The low hanging fruit will be to lay off of any remining credit/risk guys. Excuse? Bank has gone to platforms that have all of this baked in. Far more superior than policy manuals. Won't go into the fact that this is benefit of the asset cap being lifted or the CFPB being muzzled by the current admin? WFC Holdrs will be confident that the chief will finagle his way out. After all that's why they are paying him the big bucks.
Likely an accurate assessment, though I will say that the coming performance layoffs will be performance in name only. It's just another fake excuse to term people, but this time without severance.
The only information I have that I fully trust is that CTO was scheduled for a round in Q1 of ‘26. Not many Tuesdays left to make that happen. But these dates and events get pushed, both directions, all the time. So unless you’re +3 or +4 up the chain you don’t know jack. And if you are that far up you aren’t here.
3/3 is no bigger than any other biweekly layoff. It will be another 500-1000. Some times these layoffs hit one LOB so it looks like it was big for those in that LOB. Sometimes they are spread around so it looks like a small layoff.
I asked him what day it was and he said march 3rd
@ap
You tried so hard.... "hense"????
most of the $600M+ severance hit the company paid in Q4 is prepaid for known layoffs during the first part of 2026. they will need to realize these layoffs before mid year and likely want to get them done early q2 at the latest. since Jan there has been over 1500 layoffs. next couple rounds will likely be large hense 3/3 being called out. once we get late into Q2, layoffs will trickle off with most attrition being performance related.
Des Moines is done 3/3
Raises hand!
There’s never NOT been Armageddon posts here about Tuesday after payday for years now. Yet the slow layoff drip quietly continues.
Lots of fearmongering posts on this sub about 3/3. Its hard to parse because sometimes these posts are completely legit and have provided early warning of big layoff dates. And sometimes its been total horsesh-t, there's some trolls who seem to enjoy just posting random dates and "biggest layoffs ever" with zero concrete intel. I think my main takeway has been just to expect there to be a layoff every two weeks regardless. We unfortunately work for a company where the layoffs are never going to end and at any given time your job is always at risk
Pretty sure March 3 is the official location strategy layoff day for CSBBO.
What groups/departments?