I hear people saying that the constant threat of layoffs is a new thing. It's not. I've been here for a little over ten years and in all that time I don't EVER remember a time when job security was not an issue. Yes, we had better benefits in the past, we had better perks as well, but don't try to rewrite history by claiming we had job security. This is not a new thing.
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What branch ?
i was talking to a fellow VBO'er today regarding the sh-t that went down in our branch for 7 years. it was like a fu----g soap opera, it finally got cleaned up, but people were scared to call the hotline for fear of reprisal. even though they said it was all in confidence. we then discussed some of the EVP issues at national meetings, always funny to see them go off the deep end. the normal every day grunt would be fired on the spot, the EVP's got counseling and more shares.
@ Roger Lawson - Thank you it would have driven me crazy not remembering that A Holes name. Bad memories of him being paraded around as the savior of the company and everyone knew he was there just to RIF people. A lot of really good people were let go in 2008.
@ 30 Days - I took the VBO (last day is 9/30) and I'm glad to hear of the relief you have! Not really sure I understand yet the change my life is about to go thru.
30 days, 30 days out since the VBO and have never felt so f'n liberated. Spent 30+ years with head on a swivel always cautious of the next RIF. It was a cr---y way to live, but putting up with that BS did set me up for a lucrative retirement.
Roger Lawson - Yeah he was a jerk.
I had to lay off 2 employees in 2008 but hired one back within 6 months and helped the other get another job at Fidelity within the year so both got paid to be off for the year. Both still work at Fidelity and declined the VBO
I think the biggest RIF was in either 2006 or 2008. She brought in that guy who wore the gangster suites with the thick strips and thousands were laid off, even layers of management were gone. That was the most nervous I ever was.
So right. I was there for 25 years and observed 15-20 different RIFS/layoffs..I’m sure there were many more. SVP’s walking around with envelopes and handing them out to those impacted only to watch people break down and cry. The second Tuesday of the month is when it happens. It’s going to continue and Fido will try to keep it on the down low. I wish we could post the real dirt about that place. Saw some shady stuff in 25 years...if only the cube walls could talk.