With the supposed RIFs happening this Thursday, when are the directors notified that they need to make cuts to their teams, or have they already been notified?
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Your severance is not equal to one year of pay. There are two different ways your severance is calculated. Mine, before taxes, was about 7 mths worth, however after taxes, it was about 4.5. Something like 33% went to taxes. It isn't the buffer you think it is.
With any luck they'll cut the bolshevik clowns in charge of ESG and DEI.
Nah, co-mie Wayne and the blackrock controlled board would never do that.
15 kyc analysts were impacted
For those in bank who are impacted, I know from personal experience how difficult it can feel. I was laid off from USAA in Q4 of last year. A lot of mixed emotions then and likely some hard feelings. It’s normal! You will likely get 60 days of full salary and benefits and then 12 months salary paid in a lump sum, if you sign the agreement. Unless you have some kind of serious case, just sign it, take the money, and move on with your life towards brighter days! You don’t need USAA and will be so much happier after getting out!!
Even with severance, being laid off is never easy. Hoping all who are impacted find their ‘next thing’ soon. I’m sorry to hear this is happening.
Bank severence is still 12 months lump sum. Plus 60 day no-work notification.
Can anyone impacted confirm the severance package they’re providing? Is it still a year’s worth of pay?
Even though Bank’s main focus is QRM, they go and let go of most of our risk partners. Absolutely ridiculous. They always make cuts and let the work fall on top of those left even when plates are overflowing with work.
Does BRC include AML, KYC, or Fraud?
Bank BRC
What dept was notified?
Notifications started this morning.
Gotta free up some more money for Peacuck
Jen Ds org will have a townhall tomorrow to cover the layoffs across BBRC
Which areas?
BrCAs under Jen Ds org are being done now too. I was one of them.
Kyc analyst????
KYC lay offs happening now
That’s what I was thinking too. We have so much work planned for the upcoming months but that wouldn’t stop them from trimming a few heads.
A friend of mine who was laid off Oct 2022, said her director wasn’t notified until the morning of, then a 10 minute pop up meeting happened with only her and the director, once it started, HR joined in, and she was told her role was eliminated and giving 60 days notice.
Which cosa??
You’re probably correct on your statement, unfortunately:(
Do directors know which team members are being let go ahead of time? I assume with how disjointed everything is that the decision would be made higher than directors and they would find out at the same as the employee. I’d also guess many directors are being let go.