This morning’s Town Hall included a quick reference to 1500 roles/teammates will be impacted around 8/1 or 9/1. That is about 48% of RMO. Anyone else hear the same or have any details?
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@cv 100%. They offered teammates a chance to volunteer at the Championship, even paid/waived the $130 fee. (Yes you must pay a fee to volunteer). They requested teammates log the volunteer hours…. But the hours “volunteering” exceeded the # of volunteer hours they offered (free work, not actually helping people). All just so the top people could entertain their friends and family…. Ignore actual teammates…then have someone else write a Linked Inn post on behalf of themselves saying how important the volunteers are. Duh- your getting free work, the volunteers are literally suffering so everyone else can have fun and make money.
It's already started. My teammate and I were RIF'ed Wednesday in RMO. Get your resumes ready, it's rough out here.
It’ll be hilarious if the folks they are trying to displace with AI manage to poison the training data.
Just a thought if asked to “fully document your processes”…
As far as the 1500 goes, Brad mentioned that he "hoped" a lot of the 2nd line would be moved to 1st line to utilize their skills.
All I know is that obviously the RTO mandate did not have the intended result of a lot of teammates leaving and so now they are trying to scare people, guess they desperately don't want to pay for layoffs.
Sounds like project star 2.0, but with AI. Typical for this bank. Going to launch a bunch of AI stuff this summer and assuming it doesn't totally break, they will run with RMO staff as a parallel model for a couple months. Once the AI systems are battle tested over the summer, massive cuts to RMO across all lines of business. Better get your resumes ready and start calling friends at other banks/firms if you are in risk management.
No revenue growth (not that SunTrust or Truist ever experienced any with Bill Rogers as leader), there is only cutting costs as an option (the only one Bill knows, besides giving himself a pay raise).
Have to pay for the golf tourney somehow. Not growing revenue organically. So let’s cut!
@aq RMO= Risk Management Organization
What is RMO? And which leader is it under?
I was on the Town Hall and heard the same thing. Wonder what “impacted” means. Would be nice to have details.
@OP That 48% probably doesn't pay attention either.