So it has been extremely slow the last few months and difficult to meet the minimum requirement to get paid. Will the firm just keep us around since we are not costing them much and they will have an extra body in the branch to assist customers, coach new bankers and help with mortgage servicing questions? Then hope that they can reduce headcount by attrition and not pay severance or unemployment since you left and not laid off?
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Termed because of production? Verbal-written-term? Not sure here.
That line of thinking, keeping you around until you leave on your own accord, is the Chase way. Starve then leave so they don’t get the bad “publicity” amongst the loan officer community (of laying off loan officers since they’ll want to hire from that same community in the future). That being said, you cost more than $12 per hour. While minimal on $12/hr they pay employer social security, and, not minimal they pay benefits.
Question for field HLA’s: anyone hear of anyone getting verbal-written-termination for not meeting minimum performance requirements? It’s a 60 day process (verbal-30, written-30, then you gone). Curious as the consumer bank doesn’t term for production… just activities or lack thereof. That being said, you can be term’d for anything.
If I had to bet on it I’d say field HLA’s come out a little less unscathed (though somewhat affected) from these next cuts. Reasons: 1) Branch and community presence, no cost to physical infrastructure since that infrastructure (the branch) is already in place. 2) Realtor relationships that CD can’t build (they can build some but nothing like field). 3) Ability to take CD leads on due to low volume. I believe BSC may stay on.
That being said, I really don’t know s$@&. Seriously. Just an opinion. I truly hope that all make it through and thrive and rates plummet!!!
12 doughlar wow my Walmart pays 17
Why would you want to "stay around" making $12 an hour?