Tuesday after pay day. Got invite to business update meeting last minute. Guy named we never met told us our positions eliminated. This is the entire firm. Never met the guy, talked in circles about models and we are definitely not part of it. This is a 60 day working so we will be kicked out right after Christmas. They created another job with 1/2 our duties plus other duties reporting to someone else. He didn’t answer questions or look at the camera. I asked around and they is no plan to replace the work we do. They will figure it out in 60 days.
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I heard it was people who worked in the cage at PCG, across ALL local offices. Definitely working 60 days so it means they don’t have a plan in place, just a numbers game to put on self-review that you saved the company $x-x dollars. I heard about the “market” sales manager too. Always a reorg there too. First they were productivity consultants + planning strategists + lending directors. Not sure they will be called next. The part that I am pi---d about is they took out most of the Elder initiatives team. Seniors can go F themselves. You know elder abuse is a growing epidemic. I heard they also took out some compliance and control roles-the ones responsible for the framework of the company.
It was the position called Sales Manager, which used to be the productivity consultants and a few other names in between. That position goes through this “reorganization” about every 18 months or so. They all were told about this in August or September. Not sure what they actually did except push lending once FA’s.
40% under one manager I heard and roles were all over country.
How many roles were effected?
What was the location of the WFA branch support roles being eliminated?
Fair to ask if the firm is in trouble. I refuse to invest in it.
May want to work on your grammar before applying anywhere.
Good luck! Don't wait to start looking for jobs - the market is terrible right now and its taking many folks a very long time to find something.