Layoffs started in STL office Tuesday. Sounds like more layoffs coming across all HQ offices in next few weeks.
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Currently we seem to be around 79% USA, 15% India, and 4% Philippines.
SEC should mandate companies breakdown the employee count by country of residence, much like they started requiring companies to declare pay ratios of ceo to rank and file.
Total headcount in line w/ other Banks: 210K
30% Offshore: 63K
70% US: 157K
Summary: ~2 more years of US Layoffs to get to that level
The huckster will lay off more, why not STL?
That's true, but considering the info blackout that the execs like to create, at least tracking these #s can help give us some idea of what they've done and maybe help guestimates based on trends in past behavior.
That doesn't help us know what the company wants the final US headcount to be though. The company only tells shareholders general guidance about what their expenses will be, part of which is payroll. However since India is still payroll as part of headcount, the company isn't telling us if spending $X on headcount means 180k US employees or 40k US employees and 150k India employees.
There's a tool on teamworks that will tell you exactly what the domestic headcount is. Simply put "USA" in the advanced people search for physical location country.
Layoffs continue everywhere.
Info Sec is one area that is the worst, competency wise, has some of the worst managers, who should be laid off.
WFA def got dinged this Tuesday.
Yes, the Tuesday after a payday is a layoff day and July/August were especially big layoff months. It's anybody's guess as to how severe the layoffs will be or what the target US headcount number is.
Note I said "US headcount" because we can't even rely on the company's estimates for headcount anymore since a huge part of the layoffs are so they can ship the jobs overseas, which leaves headcount static but of course at the expense of American jobs.
All we know for sure is that every Tuesday following a payday has the potential for hundreds of layoffs company-wide.
There was yet another big realignment and consolidation on Tuesday. Several divisional executives, some who’d been here for decades, were axed.
Well, yes, there were some layoffs, but they didn't just start.
Non-WFA layoffs in STL have been happening for 2 years.
can't confirm...but won't be surprised to see massive layoffs in October.