We know people are being let go left and right but it's quiet on numbers. Does anybody know how many have been let go so far this week?
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Anyone know which grps are being let go? Back office positions?
The y have to cover at least $400M and get prepared to pay MUFG back for the loan to buy UnionBank. Makes you wonder, US Bank had to borrow money from the acquisition target in order ti acquire the company. Capital issues?
They are slowly and quietly getting rid of people in small groups so there is No WARN requirement like a mass layoff, but it’s really a massive stealth layoff.
So many people terminated, not even funny
All I can say is they are doing a clean house. About 30%-40% per group are going to be let go. This is to cover the 25%.
No and they’re being super cautious not to give out details. Mostly because if it is what is defined as a “mass layoff” they only gave us 30 days notice and that’s a violation of the WARN Act.
While I do not know all personally, at least 200 people in groups I regularly work with since January.
Second week of January two entire Management lines and their staff were let go. 70ppl
Valentines Day, same thing in another group 80ppl.
Plus the one off of 10 people here and there.