Who makes the decision on who actually gets laid off? And is it mainly the non-senior people who get cut?
11 replies (most recent on top)
@sr Jan 2026
@OP the decisions are made over the summer at mid year review. Lines of businesses are separated into two groups. 'Eliminate' and 'Eliminate Later' - there is no "keep" group. Only "now" or "later"; if you recently had a reorg you're more than likely up for a layoff. Notice reorgs always come after reviews but before layoffs. The realignments occur first at this Level 4 bottom feeding bank, then the layoffs come. This will be a 5 Wave layoff that started in Oct 2023 with the first wave, Jan 2025 with the second wave, and Jan 2026 will be the third wave. There will probably be 2 more waves as they continue to forgo FTE for contract employees before they get to where they want to be. This means layoffs thru 2028.
Was once a great place to work. Until the yearly layoffs began. Every October I would hold my breath. Glad I took control and left when I did. Still have some friends there and they tell me how bad morale is. Stay strong, sometimes the grass is greener.
I saw two strong Senior Directors let go this week; one of whom I worked closely with. It’s hard to understand why talented, hands-on leaders are being cut while others who delegate everything or contribute little remain and are even recognized for it. Losing people who actually make an impact feels like a step in the wrong direction.
@sb I saw some good managers and directors let go back in January in the BL Risk area.
@sb when?
@sb and Sr. Directors…
Managers and directors are on the list for this year..
@pn or if you are higher paid and they need to shave $, reorgs, etc.
Every manager has a sh-t list if you are on it you are out
Who stays & who goes,
is all based on Performance and Merit...
BWAHAHAHAHAHAHAHAHA
^_^