The new guy is definitely going to want to show the board and shareholders that they can rely on him from the very start, and the easiest way to do that is to make a big impression - major cost cuts through layoffs. I’d bet anything that we’ll see a significant round within the first few months of his reign.
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I worked for PNC for several years while Mike Lyons was there. No guarantee he maintains the same culture and mindset, but PNC didn’t make cuts just for the sake of making cuts. They cut based on lack of results or growth within a specific space. If your job is actually benefitting the company and clients, it’s not likely to be eliminated unless you’re not executing on it properly. Even then, at least at PNC, there was performance management. Again, can’t say that’s the stance he takes once he gets here. Someone at his level will also want to avoid rocking the boat and tanking the stock price too much, as we know that’s the primary concern of the board. I’d expect subtle changes but nothing that will raise too many concerns. Keep in mind that PNC’s current slogan is “brilliantly boring”.
Get out when you find an opportunity!
I would seriously not give a fu-k. I don’t consider this to be a good job or a good company to work for. In fact, I think it’s probably the worst company I’ve ever worked at in my career. I’ve been here about a year.