A commenter in another post said they would announce a RIF in the quarterly update. Anyone know anything?
9 replies (most recent on top)
Haha they refuse to address RIF in any quarterly meeting unless they can honestly say “none are planned”. Which is usually right after they happen…
I will say that we have a need for better risk management, actually, but most people in the company don’t realize how close we are to one major issue causing multi-day outages. That includes the vendor ones like Crowdstrike… which is why vendor management is centralized.
@ps Hey now, don’t forget the former CEO/Co-Chair of the Board who so far this year has cashed out around $55M!! $$$$$$!!! The Power of One which by “one,” they clearly mean the 1%.
@kw The earnings call hit all the notes “record revenue,” “efficiency,” “shareholder value” aka leadership keeps getting richer. The CEO and CRO have already made more this year cashing out stock than most employees will see in decades.
For most of us, “efficiency” just means the opportunity to get squeezed harder. Merit raises shrink, cost of living gets ignored, and the people doing the real work are told to do more with less. But somehow there’s always room in the budget for executive travel &entertainment, off-sites, and stock buybacks.
For them, that’s success. For the rest of us it’s surviving the toxic culture that ensures they keep getting richer and richer!
Check out the recorded earnings call.
Paying down debt, managing expense ratios. Not directly mentioning RIFs but stock price surged before the rest of the market took it down. I’m sure Chuckles is pi---d that record earnings quarter and stock closed lower than open.
Hard not to notice all the frustration directed at RIsk, Compliance and STS.
I’ve tried (unsuccessfully) to make a move to Compliance which now feels like that’s for the best especially if they are top of the list for upcoming RIF!
@bs yeah I work in R&C. Literally I just sit here and click buttons. Sometimes I don't even review stuff cuz I've given up on this place. Most the other folks also just nit pick stuff and send findings for stuff that isn't even in KC. Like whatthehelly? Best practice? According to who? You?
Some of the stuff I feel so bad sending findings for because it makes sense logically but because it's not in the rulebook I have to send it. 😭 And i don't that affects my performance... Like c'mon. Can't we have some discretion here? I feel for you service folks.
Monday, November 3.
There are alot of useless or overstaffed departments. Just look at all the risk and compliance people. Operational Risk Management? What do they even do? Vendor Management and Events Planning, 2 things that can be done at the department level.
Unlikely to be this week. Preference is Monday announcements. That would suggest the 27th.