Been hearing rumblings that another round is happening before the end of the year. Any insight?
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Maybe some of the planned lay offs were canceled because the executives who planned them are gone or on their way out?
@ccuk+1uiC3G3s
Not sure what you mean by "Will RTO be a factor in layoffs?" If you are not following policy, you will not be laid off (downsizing/no fault) with severance but you will be terminated (fired) with cause.
Will RTO be a factor in layoffs?
If they really have layoffs planned in the next two weeks, they aren’t just going to fire people that aren’t already on disciplinary action.
If you're in ECIO, don't be surprised if you get slapped with a ginned-up PIP so they can let you go with cause instead of getting severance.
I am guessing call centers will take a big hit! Outside of fraud......
Sept 23rd bank, but where in bank specifically?
I hear the week of the 23rd of Sept Bank will get their 60 days
It’s not about worry. Some of us still qualify for the bank severance.
Either post out or don't, constant worrying and fretting ("being prepared") is not productive or healthy.
So aml will
Become bank??
So as part of the ARC project are they wanting to fire people before moving teams from ERC into the bank structure, that way firing them from ERC won't trigger the year's severance?
bank bda team
Currently, Bank employees get a year of severance if they get laid off under the CO. However, once the Fraud part gets remediated, the CO will get lifted and so will the severance clause, which is why Fraud will be hit hard with layoffs.
They haven’t been able to fix the Consent Order yet, but definitely be vigilant and work on your skills/certs until then if you’re in Bank
They laid off the entire Fraud leadership team and are in the middle of laying off Bank leadership. The CO has been a mess, so trying to re-write it. Any “retirement” news is a lie.
Does anyone have a running tally of the layoffs over the last 2-3 years? Would be curious to see that. First round that I remember was a bunch of IT leaders in early 2022ish? Maybe late 2021? Lots of managers, directors, and I think EDs in that round.
There have been dozens since then; some large, some small, just wondering if anyone’s been keeping track.
Actually, several of the rounds in the last 2 years have been accurate. There is value in sharing what has been heard as a reminder to prepare and keep alert, with the understanding that circumstances change beyond the poster’s control.
Actually, @2rbn+1uiC3G3s the alerts on this site have been pretty accurate. Yes of course there’s going to be layoffs until the end of time, it’s normal for people wanting to be prepared. Everyone is prepared for a rocky road ahead
constant stream of false alerts about layoffs on this site
Yes there will be layoffs until the end of time but no this site will not give anyone a reliable pre-emptive heads up
Definitely in Fraud once ARC is done. Over 1000 employees have been hired to fix it. They won’t have enough work in 1.5 years and will lay off.
I thought there were some coming in the Bank after the ARC project was completed, but that was just heard from former EMG.
There have been some layoffs recently in some of the support roles, but nothing large scale.
I have not heard a peep and I am in the bank. Where I am at I would be privy to that kind of info, bit nothing yet.
Lots of posts about layoffs recently. Haven’t seen any.
This site is worse for employee morale than anything else I can think of.
I know Bank is cutting budgets (heard something like 30 million) so there for sure will be waves of hits for the coming 1-2 years. They try to paint the picture of CTE's being the cuts but I think it is going to be the opposite. Only time will tell.