Thread regarding PNC layoffs

My monthly RTO cost is around $900, slightly lower than Billy's daily male escort service.

@n1 the money really goes to security details and private jets. Read the SEC filings and search for "private security," there are several chiefs that have one which per/yr multiples more than average salaries here, they all fly private too. $600,000 per chief, per year, some more.

Debt debt and more debt. I will literally be losing money each month. This job is not sufficient for my lifestyle which is a dam shame because I like what I do here. Thanks Bill. Thanks a whole fuggin lot.

I’m the one who wrote about saving $$. Here to sincerely apologize for insensitivity. Truly sorry and I hope everyone finds a good solution.

@hd Pre-Pandemic, we were in the office 2-3 days per week with the balance being remote. 5 days in office is worse than what we had before. For that reason, I and many others are working on a clean exit.

@nq Everyone does it is not the argument you think it is. You opened with employees should have been saving their commute money, so excuse us for noticing PNC did exactly that on a much larger scale while schools got stiffed. If corporate tax reduction is just smart business, then employees keeping their commute savings is just smart personal finance. You do not get to lecture workers about pocketing savings while cheering the company for doing the same thing. And the whole commute savings premise falls apart anyway because most non-client roles were already flex before COVID. Nobody was commuting five days a week to begin with. This is not returning to normal. This is a new cost being added onto workers who were already taking real pay cuts through below inflation raises every year. Pick a lane.

@jj Oh please. So now the pity is on the school system and a drop in tax revenue? You’re digging pretty deep there. PNC isn’t the only big bad wolf trying to reduce their tax burdens….

@n1 I hear you. If the situation is the PNC’er is full time home and the the other spouse/partner is not, then it’s definitely a problem. But what I hear the most is the people who were full time office pre-Covid, then fully home, and/or part-time office now, having to go full time in office. Like 5 days, then none, then 2-3, now back to 5. I don’t like it either! All I’m saying is that (for those I just described) you have to be fair and acknowledge you escaped a lot of those costs you now have to pay again. For those who going into the office is not a “return” but rather a whole new expense and logistical nightmare, that truly su-ks and I hope you can find a solution that works.

@jj Where do you think that saved money went to? Fancy hotels luxury vacations a new watch or Sunday convertible. Yea that money I saved from commute costs went to utilities food tutoring my son's karate, college savings, medical costs. Now me and my wife are facing a decision. Which one of us goes part time to watch the kids? We've never took any of our kids to daycare but I'm looking at a $2100 per month fee in daycare costs if we go that route. Daycare also means we would need to get a 2nd vehicle. We were able to make do just fine until the rto mandate hit us like a ton of bricks. gas insurance car note we are looking at around $1200 month to operate a 2nd safe and reliable vehicle that fits our family. This is the reality for many employees. One executive decision - and as OP stated it - you become priced out of a job. There is nothing fair when the CEO gets another double digit comp increase. Bill need to make another RTO announcement [R]everse [T]he [O]rder!

@hd You say we should have been pocketing our commute savings. PNC was pocketing theirs. They got their headquarters knocked from $147M down to $72M in assessed value while the buildings sat empty, pocketing the tax difference while Pittsburgh schools ate the loss. They also handed out 1.5% raises while inflation ran 4-5%, pocketing that difference too. Now the buildings are suddenly essential and at full capacity again. I’m sure they’re rushing to reassess back to $147M any day now. We’re supposed to be grateful while they load commute costs back onto us. They took their savings. Where’s the gratitude for that?

The “R” in RTO stands for RETURN. To those of you who WERE in the office and haven’t been for several years: If you’re valuing your commute time in all of that (thousands of dollars a month?!?), then you’d have to grateful for the $20-30m or so every year you didn’t have to spend for the five years we’ve been home. You gotta be fair here. If you never were in an office before, and this RTO is truly new to you and really costing you hard dollars of $15-25m a year, surely there are better paying jobs out there.
My point is there’s no point in trying to rationalize a change. May 4th is a new order.

About 2350/month for me. I expect to lose 18-20 hours/week just to commute and I will no longer be able to afford to contribute to my 401k. I have literally been priced out of this job. This isn't living paycheck to paycheck this is surviving week to week. I also got the 1.5% comp raise but that will be drained roughly by week 5 of the rto.

If you want to get really really mad, read the post gazette article about the $143 million dollars or so in property tax that PNC didn’t have to pay because they appealed the valuations. And our city “needs” PNC employees downtown to make it better. What Pittsburgh needs is for PNC to contribute a fair share to property taxes.

roughly 1k a month for me :(