Thread regarding Canadian Imperial Bank of Commerce layoffs

This is one of the most frustrating teams I have worked in at CIBC. There is a strong perception that hiring decisions are heavily influenced by personal connections with certain consulting vendors, rather than being fully merit-based. Many roles seem to be filled through preferred consultancies, which raises concerns about fairness in the hiring process and how corrupt these indian managers are.
Additionally, promotion decisions often appear to favor a close circle of internal contacts, which makes it difficult for genuinely strong performers to grow within the team. Over time, this environment has led to a loss of trust and has pushed talented individuals to consider leaving.
Overall, while the work itself can be meaningful, the lack of transparency in hiring and promotions significantly impacts morale and retention.