It has been very sad to witness the transformation here over time. I have been around since pre-IPO and have had good success here personally. But the layoffs were just the latest example of where things have gone wrong. I used to be so proud to come and work at a place like Ally. For all the issues people seem to have with JB, I can assure you this was a major downgrade, likely due to lack of interest from external candidates (going by the extended search). He just really isn’t qualified for the job and nothing I have seen changes that. Based on the background of him and the CFO, I wouldn’t be surprised if we are a takeover candidate if performance continues to go sideways. Bonuses didn’t seem terrible for those that remain but I will be looking around. The vision just isn’t there anymore, the wrong things are being prioritized, and I don’t feel the same way I once did about working here. Hopefully they will turn it around but I just don’t see it with the current leadership team and don’t want to stick around to find out.
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JB's biggest fault was surrounding himself with sycophants. His former BOA people ki-led much of Ally.
This feels like drastic overreaction