Cutting costs through layoffs is the only thing that McK can think of as a strategy. If only we had a leadership team that we admired and looked up to. A leadership team that provided vision and admitted when they make mistakes. Instead we are burdened with a failed group of people who enrich themselves via inflicting misery on others.
An on point post, bumped from @1quk+1tWnFzmV.
Exactly, there is a big difference between layoffs and voluntary attrition. Even during years without layoffs, our attrition has been so bad that hiring could not even keep up with the people that were voluntarily leaving.
There is a difference between layoffs and attrition.
The layoffs by year are more numerous than the numberd in the list of the post below.
Just look at the Yammer / Engage member numbers over time. We had over 10,000 in 2018.
Now we have 6100.
Again, you don't know what you're talking about.
TD Layoffs by year:
If anyone was listening to the all accompany yesterday, CB made it very clear the goal is to get to the “rule of 40”. Since growth is minimal, she is going to cut our way to that number. This is something that consultants advised is not prudent for growth, but bankers advised this as a method to support the stock price, along with continued share buybacks. I do agree with you that Chappers was totally ineffective, to the point where he had no influence over anything lol
The OP is on the money. When chappers was in he brought in his McK mates and it was from that moment we started to see massive job cuts. SM just smiled stupidly.
Now the reality is that McK rode off into the sunset with tens of millions in fees, the company is in worse shape and more cuts are on the way.
Meanwhile those at the top keep awarding themselves millions in RSU's. Talk about dud leadership.
You don't know what you're talking about. In the last engagement, McK recommended additional investment, not people cuts... Plus, ELT said we don't need McK and are no longer using them. Right now, bankers are influencing the financial strategy of TD...
TD should learn from Starbucks ! Today they sent their CEO home just after he completed only one year with them as they saw sales coming down , enterprise value dwindling and no real value being added by CEO !