Yes it’s true. I was severed on Monday with no warning.
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It's always a invite to a meeting call. The call starts out as if everyone is in the call at the same time as a whole dept. However there are actually 2 calls happening at the same time so no one knows who got gutted. The call i experienced was literally at the beginning the first words are "AT THIS TIME YOU ARE SAFE"- then the spill about change blah,blah,blah. The other call I was told by a former employee very cold, vague, muted, no empathy what so ever in the voice Stating you last day will be blah,blah,blah and you will receive your severance package reach out to HR for any questions. Sad thing is one of them did reach out to HR and basically was told they couldn't help them.... I'm just so disgusted with this bank how far it has went from being personal and a family caring bank-to just awful and cold. Sorry not sorry bring me my severance package.
Credit risk here, me and about 15 others were told our last day is Friday. Thanks for the memories USB!
Are they paying pensions, etc? I feel awful for veteran employees specifically with so many years at the bank.
Look like WCIB got hit hard. Which area in WCIB? Operation, gtss , risk?
@1Pzf:
Yes it is my understanding we are getting the pension per the severance agreement.
We were part of the WCIB Ops!
Which departments were you in? I really hope they still gave you your pension
old phrase “Without You, There’s No US”….
New phrase: "Without you, we can move everything to India."
Same here I was notified Monday. Being on to this thread is socially therapuetic. Had more than 30 years with the Bank. We were HUB out the door. It’s unfortunate the Bank could not find another solution for us. What happened to the old phrase “Without You, There’s No US”….
Sorry to hear about your layoff, @wlz+1uBMgaXw. Hopefully you were paid good severance at least.
If I ever get let go, my plan is to close all my accounts at this bank. You fire me? I'll do the same. It's the only sane thing to do.
Got layoff this week also after w0 years with the bank, in WCIB.
Kind of numb and still trying to process things, did not think career would end with a layoff on Team. No retirement party , no recognition, no nothing, just a contractor, even after 30 years full time with the bank.
I feel bad for the young folks that believe in loyalty, hint, there ain’t none. Just work 8 hours and log off, don ki-l your self over a job, don’t volunteer and take extra work at this bank.
I am fortunate I had many great years at this bank.
Hence the thin ice.
Unfortunately with WARN, it’s not about the total layoffs across the entire company but the amount at each single location. Even though this is such a huge significant reduction in workforce US bank is strategically laying off less than the threshold at each single site through out the year as a way to avoid WARN notice
So many WARN legal eagles on this site. Look every organization has legal counsel that specializes in this area. companies make moves after they have been signed off on, and been gone though well in advance.
USB is treading on very thin ice regarding WARN act.
Global trade standby services was affected this week in processing and risk. It was an impromptu mandatory meeting and some people given about a month to stay if they hold senior leadership jobs like 2 or 3 down from SBadran and DH. While lower levels were told it was there last day, they survived the first round but not the second. I hate how the bank does layoffs every quarter to avoid WARN. If you accumulate the layoffs from this year alone, MASS LAYOFFS!
Our half of a department got laid off too. Immediately after we trained the other half on how to do our jobs. Super fun
I'm sorry to hear about your job loss. Are they giving you a 60 day notice period or was the layoff effective immediately?
I'm sorry your job was eliminated, and hope you find a better situation for yourself soon.
How did they notify you? Was it a random Teams Meeting invitation with short notice?
Dang. What department? With. All the layoff this week, I am scared if I get a team invite at 8am with my manager.