I’m surprised at the terminology used here such as “brutal,” “bloodbath,” etc. and then all these media msnbc getting constant “inside info.” which sound more like controlled deliberate information releases by the own bank to the press about the layoffs.
Was reading another article about banks “quietly” laying off people because there’s not as much turnover as they used to have.
is any employer trying to have natural attrition..uh yea!!
When natural attention does not occur...they slowly do $#!+ to make employees feel uncomfortable, $#!+ like bring your own coffee cups, he-l bring your own coffee, change your work hours, give you double the work, scrutinize everything you do, when in time past that was not done.
If your salary is slightly higher then your coworker, "Your it!.."
what ever saves the company money.
You have a name...but now your just a number...your total compensation amount number that is...
They might say, well do we really need him, anc John both his job and some of Jerry's job?
He is always on time and has great attendance..but he makes 6k more per year, then John...
Unnatural attrition su-ks...
but it's life, deal with it.
Citi does not care much about their workers. That is why they are doing a long slow cruel firing. The leadership only cares about stock price. The unclear layoff announcement was done to avoid a catastrophic drop in stock value due to poor performance. By keeping the layoff going for 6 months with little information they manage to keep investors happy and prevent the stock price from crashing. Workers well being is not part of their plan.
Obviously. This is why they offered partial bonus payouts earlier this month to a select few people who would be willing to accept a termination package.
Having people resign after finding jobs on their own would be a lot cheaper than having to give them severance packages, no?
I don't think the bank really cares what employees do. They are releasing these nuggets to boost the stock price, and the analyst calls on C.
Sounds cool for folks to come on here and say they will leave for greener pastures, but the reality is it would be pretty d-mb to give up severance and WARN payout, if their skills are as "in demand" as they portray. Make them fire you, take your bonus, your severance, and WARN, go to Bora Bora for a vacation, and then go get a new job.
Probably yes.