What is the future ? Will there be any layoffs as part of this merger ? Any updates to RTO ?
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As a business analyst specialist on the advisor compensation team, am I safe?
@4ff I’m hoping for positive change
I would expect that much of the people cost saves are going to be within the L2 to L4s, the merged company won’t need two of all of those middle managers. And you’d think that it will take a few years before the majority of those savings materialize given the lead time to receive regulatory approvals and then the time that it will take to integrate the two teams and harmonize operational processes.
@r2 actually it’s IT, Ops, and Finance. There’s hardly anyone left in HR - it’s all outsourced. And the ones that are left in IT are primarily mgmt. Most of the IT workers VERPed.
@20e - I’m in the Houston office 3 days a week and so are my colleagues in that office. I think it depends on the days that you go in and the floor you’re on, where it may seem the office is empty. Remember also that over a third of the VERPers were in the Houston office.
@1qa Most Houston employees work PT - the office is empty - hope some of the slackers are dealt with
@r2 it’s more than that there’s still significant true corebridge employees in Houston and Amarillo
It's going to take 12 to 18 months for the merger to be approved and finalized so, I imagine we have a little time to start looking. I would hope that they offer some sort of VERP before a layoff but, we'll see I guess.
@b9 who and what is there left to get rid of ? Accenture and VERP too just about everyone. IT, HR and senior management are the only ones left
Years away
"$500M of synergies" from mergers is code for layoffs. Yes, count on it. But I would expect it to still be months away.