Is anyone aware of any potential impacts to take place in SBB Lending by year end? No panic here, just curious
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Not true. Layoffs and stacked ranking are two different things and your info is wrong if you were referring to Year End performance management.
For performance management, groups are expected to return a distribution that is inline with guidance from the Enterprise. To say one person is fired from each group doesn’t take into account the size of the teams whatsoever and glosses over the way perf mgmt works.
A team of 100 people will be expected to have about 15% inconsistent/action required, about 50% strong, and 35% very strong/exceptional. Those 15% will be given a coaching plan or PIP depending on the circumstances, and then have 60 to 90 days for the plans to conclude.
Keep in mind ratings won’t even be delivered until February (?), so assuming a 90 day plan that isn’t successful you’re still getting a paycheck up into May (?). Not exactly fired right away.
The original poster appears to be more asking about layoffs (“impacts”). The retail bank and card layoffs in June were pretty big. I don’t think there will be any additional redeployments for a little while, at least not at that same scale.
If there is pressure to reduce headcount even more, likely the business will wait and see who leaves on their own after performance management season for YE. There may be a few one-offs up until then but if you are on a team that feels the impacts from the extra work since June, it’s known how light everyone is in terms of remaining capacity. Can’t go much deeper without things really starting to fall apart.
Every division has to fire someone to meet the stack ranking quota period.