Any idea which specific departments are being impacted next week? Also does anyone know what happens to our pensions if we are laid off (and fully vested)?
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What department or position in PWM and Trust in the west got layoff?
PWM and Trust in the West Region had layoffs this week. Not sure if that’s the end or just the beginning. It’s just awful.
TOS production management lost a couple today
For the person ‘in tech’ that got laid off, I’m sorry. Could you elaborate? What area of TOS are you in?
Many people laid off today, I was one of them. We got pulled into a group for the announcement mid afternoon. I am in tech.
I heard about layoffs in sales / credit in Montana today.
I saw in a few chats today there were layoffs. Hard to tell what area.
Your pension is yours and has no impact if you are severed. Your choice will be when to draw it later in life.
"Also does anyone know what happens to our pensions if we are laid off (and fully vested)? "
They publish Summary Plan Documents (SPD's) in the My Total Rewards section. Poke around there and you should be able to find some answers.
"Any idea which specific departments are being impacted next week?"
I've heard rumors from a colleague that the line of business I'm in will have layoffs on Wednesday. It's in the WCIB organization.
At this point I guess we can assume that every group is under review for headcount reductions.
They'll cut too many people based on salaries without giving much thought about who or how the work will be done after they're gone.