Back office in Virginia Operations is getting payed off taking work to India
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Post from TheLayoff.com
People with skills were laid off, then other people with skills followed. What remains... umm...isn't exactly the cream of the crop
Agree that if you don’t want another merger, vote Democrat. I’m not a dem but will vote that way in November because another mega bank that still can’t compete with Chase is not what the American people need. It would make big bucks for the operating council but not for me. Give me a golden parachute and I’ll change my tune.
Merging and or being bought by an equal or larger entity is going to be hard. If Democrats remain in control and this is likely come November they will not support and will fight big bank mergers and are apt to block them altogether. The BOD is going to have to grow a pair and send Roy Rogers and Trigger packing. While I’m at it our HR (Chief Teammate Officer) is an absolute joke. She receives accolades for this and that but she has no soul. If she were any kind of person she would have resigned in protest of the treatment of the very people she’s supposed to represent. She,Weaver and Starnes are the most disappointing and frankly disgusting members of executive management. Sold their souls to Rogers and the Suntrust culture. They can’t find purpose and care in a dictionary.
We're in the value extraction phase. They're going to do everything they can to maximize efficiency ratios to improve the stock price and then ultimately sell it off. It will look a lot like a private equity takeover from here till acquisition.
If you think you can help your career in that environment, stay. If not, go. Personally, I'm gambling on the first and hoping for a layoff package.
Honestly, management is looking for any way staff can work with less workforce. Limiting client satisfaction and doing the bare minimum to hold onto what remaining clients they have. If you search the employee directory for people you knew four years ago, you will see they are all gone. It's sad but the truth, a miracle would be if they were sold to a decent bank but that is only wishful thinking but not a reality!
I see bitter X BBT guy is back! Hi! Go to therapy.
To the serious people: Tell me more about this skills assessment. Are you sure this isn’t just a standard regulatory thing? Is this building off the one from the fall or a different one?
The people who had skills to access people’s skills have left the building. That phase should go well for you Teammates! More steps toward becoming a worse bank and being sold.
Banking with CARE
Yes. A lot of moving pieces. Project STAR was phase 1. The big push now is project SWFP (strategic workforce planning). New rounds of consultants reviewing what we can outsource and what minimum level of staffing is needed for each area to function. They are also doing skills assessments on employees and the cuts this summer will be deep. Star was an appetizer. This is a main course.