What is the situation? A lot of rumors in offices about layoffs?!
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Abuse of HB1 Visas was also in balance sheet risk.... good and qualified candidates from US ignored
They laid off all of our upper management and executives that have all been there 25+ years. I’d assume they had the option to retire.
OK now it is time to get very specific. There’s a CIO by the name of Monty Bedi who heads ACFR (Accounting / Finance Risk and IT Support) who is protecting all of the Indian Managers (Prashant D., Mallik J, Anand S. etc and their FTE staff) but are laying off the non-Indian FTE’s under non-Indian Managers. Mr. Bedi is also abusing the H1B Visa status and hiring practices of foreign contractors through a preferred vendor contractor company using a “pay-to-play,” scheme whereby a cash kickback is provided to Mr. Bedi by the Preferred Vendor for every Indian contractor who is hired by PNC. What Mr. Bedi and others under him do not realize is that the State Department is currently investigating the abuse of the H1B Visa program by PNC after Senator Linsey Williams of the 38th District and Senator Jay Costa who represents the city of Pittsburgh were informed of this abuse and cash kickback to Bedi and others in ACFR by whistleblowers closest to the PNC organization. PNC Human Resources is also in jeopardy for failing to question and halt this practice and will have a detrimental impact on PNC’s reputation, stock prices, labor law regulation violations etc. Things are going to get very interesting for PNC and it’s too late for a coverup—State Department investigators already compiled enough evidence to begin indictments against PNC’s Executive Management and possibly against members of PNC’s’ Board of Directors. Rumors are that it will be made public by mid-November 2023 at the latest.
It's a bloodbath today. In the statement the CEO bragged about the dividends to shareholders. So gross. Also, telling people their last day is 4 days before Christmas? chef's kiss of corporate life.
For the people who unfortunately got laid off - did you get the meeting invite for the same day? I got one today for a meeting tomorrow
I’m under mortgage and my whole dept got the meeting invite today for 10/11. To say I’m stressed is an understatement
Got let go as of Dec 1. Invite said the same as yours. But from a friend that’s a manager there are two meetings. The first one is for the people affected and the second was to let the others know they are not affected.
I got an invite for tomorrow saying “employee update” and “don’t discuss with anyone”. For those laid off what did your invite say? Previously when I was safe the invite said “organizational update” not employee update. I feel like I’m getting laid off tomorrow.
Hilarious, guess mgmt got wind of this site and hard blocked it. Could access it earlier this morning.
We had a meeting with comments/questions turned off telling us they were downsizing our department (BSA/AML Compliance). Apparently, they are letting go several members from management -- some of which have been with the company for YEARS.
Any insight as to the packages? I’m sure they vary by time/role.
Two people laid off in AMG operations that we know of.
I got it today. I am in tech. Curious how widespread it is....
Obviously because this is across a whole division it's going to be handled differently, I was not affected but from the standpoint of being told this happened after the fact I am pleased with how fraud handled this. We're allowed to ask questions during live call and all
It's across all of technology, my department notified the people as quickly as possible assuming this morning then jumped on a live call to tell us if we are on the call we are not affected. Staying or leaving immediately is up to vp discretion. All happened seemingly quickly
My area in tech was impacted as were others. I was not impacted but someone on my team was. Conversations happened this morning, and my area was invited to an all hands call to be informed of the situation. Impacted employees were told they could go home for the rest of the day with the effective date being Dec 1.
I’m my case, no one from the team was let go. I’m aware of another team at their meeting, they were told that a team member was let go. Not sure how the displaced worker was informed.
Anyone from tech let go?
If you got the meeting invite are you affected? Or did some people get the invite and was not affected?
I had a meeting this morning and my manager confirmed that the team wasn’t impacted but that displacements were occurring across the company.
One person on our team of 10 was affected unfortunately. Said they would have email access til near the end of the month.
Lacking more details. But it’s terrible if people found out via a massive WebEx call.
In the meeting, did they let you know if you were affected or not?
Layoffs are effective December 1st from what I heard. Until that time we will receive pay and benefits etc.
At least one layoff has over 20yrs with the company.
Did the Webex meeting say when would HR be contacting those effected?
In the Webex meeting, did they say how long it would take for HR to reach out?
Who was the invite from?
A meeting invite was sent out to what appears to be a pre-recorded Webex video stating a reduction in force and department eliminations. There was no option for questions or the ability to see other attendees. Only a message saying someone from HR would be reaching out. Complete cowardice. The last day is December 21st for most folks affected.
Got a meeting invite at 11 “team updates”
Which departments are getting reduction?
Going to get an email to attend a meeting.
How do u know if it’s you?
How do u know if you are done?
It’s coming today.
5% headcount reduction across the board, obviously varies by dept. Supposed to hear tomorrow. More senior people last week, and there's a list of who will need.to be escorted out by security.
I heard there was a call on Wednesday regarding a reorg