Layoffs? Anyone know more? Bank pres sent out a video that basically said 'brace yourself'
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With all the changes they had in the mortgage team. I wouldn’t be surprised if it’s over there. It’s all a guessing game at this point because nobody with any true information has said anything
Anyone know when he’s planning on delivering the message? He sent out that video last week and said they would communicate in a few days and haven’t heard anything since.
Don't tempt me with a good time. lol.
@12h+1jmd1nv2v That position is still out there and was just reposted. Hard to tell if it’s specifically directed towards selling off the bank or not. I wouldn’t think they’d still have other positions open in the bank though if that was the case, and they also just named a new COO.
USAA posted a job right on LinkedIn for a Mergers and Acquisitions executive about 1-2 months ago. So they are probably doing what they did in IMCO and shopping the Bank around for a buyer. Message could have meant, brace yourself, it’s not a layoff, it’s bigger. In the case of a sale, it will go in slow motion with announcement, approval, transition. But in the interim, they will try to lean down Bank investment and head count. Some employees will make it all the way thru the transition.
Reprioritizing absolutely means layoffs are coming. Look at what Southwest Airlines just did. I heard it’s gonna be especially brutal with how they’re doing it this wave too.
To reprioritize do a 180 of the last person. Rinse and repeat. Except for morale, that's always on the bottom.
The Bank doesn’t know how to prioritize and they’ve (and he!) admitted it many times. They also don’t know what it takes to get work done. There’s no way they’ll just figure it out all of a sudden.
So this is code for arbitrary reductions in March.
I don’t know if reprioritizing equals layoffs but I’m not sure why he said it would be a difficult decision? Bank priorities are constantly shifting, most of us are used to it and are along for the ride.