Another sleepless night thanks to BNYM. Kept tossing and turning, worrying about even more cuts when I get to the office today.
I hate that we have so little info on this whole process. Why can't they tell us: yes there will be layoffs, we'll lay off this many people, it will happen on these dates. I don't see the need for secrecy. It only makes everything worse.
And then they wonder why morale is lower than ever.
If you can't take this, you'd better start looking, because two years hence people will look back upon this as the good old days, I guarantee it.
vvv is the kiss of death
As I was logging off my pc earlier, I noticed y Lync status has vvv before my name.
Does anyone know what this means?
https://www.apa.org/helpcenter/anxiety.aspx
I feel same way. I havent been laid off yet but was told to start looking cause I probably wont make it next time. Also after decades of service I was rate does not meet expectations. NO warning or anything. Told they were forced to do this because I am in the least important position in my unit. How is this permitted.
I didn't work in banking, douchebag. I worked in technology, my job was on the front lines of lowering financial and reputational risk on our services to clients.
@4wvq: you stay classy, Charlie.
Please do not let this place make you sick. Been there, done that, have the doctor's bills to prove it...worked hard, too hard, for many years and got laid off anyway. Invest in them exactly what they've now proven they've invested in you: nada. You are just a number on a spreadsheet at the moment and they are deciding if you fall above or below some arbitrary line(s). So invest in yourself and focus on something better. It's out there. To the employees that are and will be affected by this, best of luck and keep your head up.
Folks,
I was fairly senior on the management team. If you were laid off consider yourself luck. This will be going away end of year. There are .any more layoffs coming. Stretching intoFebruary. Watch for the Everett office to be closed within 2 years. I am pursuing a class action law suit for age discrimination. If you feel you were unjustly let go continue to monitor this board for info on how you can join.
This feeds into a lot of the thinking at Senior Management. A lot of traditional portfolio and risk management can now be handled by software and even artificial intelligence quant trading is handling transactions by the millions at the sub millisecond level. The Intuits, Vanguard's, Robinhoods, and Fidelities have gotten their expense ratios way down. The mass layers of management aren't necessary anymore, and will be even less so once turnkey self serve software solutions already possessed by competition becomes available. If you aren't contributing directly to product, sales, or cost control, you're overhead, and it's a race to the Polish or Indian bottom with the maximum ROI. The herds of easily replaced dinosaurs who learned their skills before 2005 aren't it.
I’m sick to my stomach here. I’ve had a nervous breakdown once because of this place. I made so much progress since then. I really don’t want to fall back again. I just need to know either way.
:( I hear this will be happening in India offices too next week. Sleepless nights here well.
This is part of his plan. If additional people leave on their own due to the stress and awful conditions, then that’s addition reduction without having to pay out a package. Doesn’t matter who it is. Anyone can be replaced. Experience and knowledge are meaningless. Welcome to the new reality.
Same here
Did not sleep at all, its 6am
Cannot bear it any more