As if there hasn’t already been enough disruptive change announced in CT&O, we now have an 8:00am CT&O Organizational Update call. Anyone have any clue what this one is about?
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They are hiring that worthless technology head Kerrins from Wells now that she was demoted. 🤣
Ashley is an axe man, once her job is done destroying CT&O, she will be gone also. Just here to come in, rip your heart out and move on
Kelly says, You Don’t Know What You Don’t Know
Has to be the most disturbing management group ever. Kelly King really made a fatal error in selling to this group.
"Without them you have nowhere to run any of your applications."
Let's get rid of them, then!
This is great. We now have the resources to hire another thousand equity research associates, after all, we are an investment bank!
Ashley was incredibly disingenuous and really didn’t answer any questions.
So Dan got the ball rolling and then bailed out. Followed orders like a good soldier.
It’s a mgmt strategy that leads to selling the bank in 3-5 years
Personally I love handing all of my personal financial data to foreign nationals.
If someone is just going to read a script like a newscaster, maybe send that as an email instead of wasting everyone's time with a non-update.
They know we don't trust them and have no reason to do so. As with RTO, they announce that a decision will be good for the bank without any details at all of why or how. These people seem to be driving a trillion dollar company on hunches. Three years of buffoonery and guesswork leads us to this juncture.
We all know how outsourcing goes: there will be a tangible reduction in expertise which will cascade, then spiral.
Leadership that chooses outsourcing is boldly proclaiming that someone else can do their job of management better than them. No ideas, no understanding of what they manage, just abstract human expenses. Reducing pensioned body count isn't going to drive this bank into the future. It is another coffin nail.
Sod the board, sod the execs.
OMG she is so full of cr-p.
What a load of bs.
Per Dan Stephenson, ALL of CT&O's being moved offshore. I personally heard him say this 3 times in various meetings.
Core Technology & Operations. The team that builds and supports all the underlying infrastructure in the datacenters that hosts the 2500 different bank applications. Without them you have nowhere to run any of your applications.
They have recently announced that a minority of the infrastructure support is being moved to India and a large portion of CT&O are being laid off.
What in the world is CT&O?
Guessing an announcement on slightly relaxed RTO and like $0.40 worth of snacks (taxable income) in-office being provided per employee to help us center ourselves during these difficult times.