Just heard the rumors that this is going to be a big one right before the bonus season in Q1 2023...
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I bet the executives aren't taking any pay cuts. Top execs pulled in $24.5M in salaries in 2022. Sure, cut the people who actually do the work. Good plan.
I am so glad I retired last month.
I think they are laying off in mortgage as well we are really slow
How much does Amala ECIO make to layoff people?
Overall cost cuts are 10% or 18% but they are trying to reduce expenses in many different ways. They also announced an external hiring freeze for ECIO so there will probably be very few positions to apply for by the time this is announced.
Any word on numbers? There are only about 100 open positions. Not gonna be much to choose from in that 60 !days.
ECIO town hall confirmed layoffs. I’m hearing 3/31 or 4/1 announcement. I’m assuming people will be given 60 days to find a job internally per the usual process but with cost cuts they are targeting that seems like it’ll be pretty impossible. May the odds be ever in your favor my friends…
Wow! More layoffs!
I am interviewing for a bank agile funds transfer position. Should I withdraw before getting hired only to get layed off in next qtr?
Any update?
Welp, it’s mid December and we just had our employee meeting. No layoffs announced. I think we are good for this month.
The ERC post is disturbing, how does the program get better with the current leadership? They have no idea how screwed up things are and assume they have the same infrastructure they had at Wells, Citi et all. Oh yeah, those banks have such great programs that they are continually fined, criticized and under their own repeat consent orders.
I’ve never know them to do layoffs right before the holidays
I would say that project managers and DPOs are going to be let go in some areas. The company invested millions in getting projects going to abide by the consent order they got from regulators. Most of those projects are now done or close to being done. Also, the IT development budget has been significantly cut for next year. Less projects, less need for those who would run projects.
Layoffs are coming to ERC mid-December. They are going to move leaders around and dismantle entire teams. Those who are left without a chair when the music stops will have 60 days to find a home in the company or be unemployed. I imagine similar actions will happen all over. Q1 2023 will also be brutal. Start dusting off your resumes.
ECIO is mostly IT right?
seems like mostly ECIO
While there may be some validity to the rumors, member contact is hiring like gang busters Q1 so we aren’t going to loose too many overall.
Because we suck at it so bad?
If I had to guess, I’d say this might be where we finally sell off mortgage.
Did you hear for what departments? Last “rumor” happened way faster than anticipated.