There will be another round of massive layoffs sometime in Q1, if it’s like last year, it’ll be in March.
11 replies (most recent on top)
Instead of layoffs, it is forced shifts to fraud. That department has greatly increased in size as a result. While some are voluntary shifts, many were given no choice and many of them have little to no prior fraud experience. Actual fraud role postings are rare and it has been indicated to more than one person that they are not looking for experience. I see no growth options there since it just seems like a dumping ground of excess headcount to keep seats warm.
Fraud Operations is growing rapidly due to regulatory scrutiny. A total of 60 people were moved from AML Ops to Fraud Ops just last week. It is possible for additional movement in a near future. If you are worried about your job, you should look into opportunities in Fraud.
Hopefully everyone is safe!
Risk and Compliance is going to get cut again for sure. That's what we are hearing.
Q1 is another big one. Q2 will be small...probably impacting non-ops support like HR/CFO as they don't need as many to support declined ops. Pray that we break even in P&C this year. If not, the for sale sign will be on I-10 frontage road with a huge GEICO banner above it. Don't worry about Wayne...he'll pocket money on the transaction.
Layoffs are imminent. There's an effort to encourage voluntary resignations among employees.
I heard rumors of layoffs beginning next week.
They sure are promoting open jobs on LinkedIn. So they’re hiring while laying off?
Well, 50 aml investigators went to fraud today. If you are in these two areas, you are definitely good…
Here in the San Antonio office, it’s just a very eerie feeling, like walking on egg shells. It wouldn’t surprise me if something is brewing.
I haven’t heard of any leaks, but the atmosphere is totally off lately; more so than usual. I’d say something may be brewing. Very unsettling.