about 10 colleagues was told the were let off, severance is 2 weeks for each year of service
298 replies (most recent on top)
Heard on the street that it is messy, key people are laid off and noone knows why some numbers not matching
Has anyone heard anything about Mr. Cooper? I feel like things aren’t going well…. This has all been so chaotic.
Someone big enough to apologize should be forgiven. I hope you can forgive yourself too.
Assistant managers are terrible, they do nothing, only managers or IC do all the jobs
Apologies not accepted until karma hits back at you!
I am the one who commented insensitively earlier (about looking in mirror). I am really sorry. I can't delete the post so I sincerely appologize if I hurt anyone. Just to clarify I myself lost the job at the recent layoff, but I volunteered myself to save 1 spot in my team. I know it was hard, I appologize profusely for the previous insensitive message that I just typed out in a moment of anger about some negative comments on assistant managers, I am one of them.
If we were lazy, please tell or advice what we did wrong than what’s supposed to be done. Self checking.. just to make sure! I didn’t day dream.. I was pulling up salesforce and signature cards.. calling and setting appointments.
Go look yourself in the mirror? Why don’t you go look your a-s in the mirror! That should define you lol
To the person who commented saying the people who got laid off were horrible employees. I was one of the employees to get laid off and even as a CC2 I ran that branch on my back. I knew how to do my job better then some people above me. My customers are devastated, as I built a relationship with a lot of them. A lot of them are also moving their money out. What everyone seems to not realize is banking used to be personal. People feel comfortable having someone they know do their transactions, and even offer products more suited to what they need.
This week is the last week I got paid. I was employed less than 6 months so no severance. This Bank required me to relocate to Troy from Chicago, I signed the lease, paid for moving, do all relocation on my own. I thought I landed a dream job, now they threw me out like piece of garbage, disregarding the financial hardship I had to go through before the holidays. I regret deeply joining this fu--ing company! The worst thing is, I am 4 months pregnant. Life is so unfair!
I can't believe there is such a horrible manager who told laid off employees to "look into the mirror"!!! No wonder the bank is such a disaster! There is no decency, no compassion, no empathy, nothing!
This has nothing to do with managers they had no say they were blind sided and had to tell there employees that had to be so hard for them as of Chris he had nothing to do with this he also has hire ups that they have no choice to listen to I am very grateful for what ever time I had I met friends who became family as if I knew forever.
Quote: “ You need to look into the mirror and ask yourself why you are laid off and not others?” You don’t get it, do you? Are you that ignorant? Hundreds of people lost their livelihoods, hundreds of good, hardworking people. People who did everything they were told to do and it still wasn’t enough. Are you literate? Because if you actually read through people’s stories you would understand that. A handful of deadweight is not indicative of them ALL being poor workers. Again, I ask: why are YOU, still obviously employed by the bank, trolling a layoff message board? Instead of telling us to shut up and go look for jobs, (which I guarantee you the majority of us are) I suggest YOU shut up, go make your NextGen calls, and pray you are never put in the same situation. If you have time during your very busy, short-staffed day to be a troll on a message board, you obviously must be one of the lazy no-goods you keep talking about. You most certainly are not focusing on your branch goals or customers. Or maybe you’re some flunky in HR being told to see what people are saying. Either way you’re a poor excuse for a human being if you can’t muster up even a shred of empathy for people who were blindsided. You know what happens to people with your attitude? Karma. Karma happens, and when it does, it’s swift and merciless. I pray people are kinder to you on your day of need than you are toward others. If anyone needs a good hard look in the mirror it’s YOU. Wipe your conscience.
I am assistant manager here. On Wed I was asked to communicate the layoff to some staff because the Manager were on leave, on Thu I was laid off myself. The process was brutal and no one knows anything, no one was spared. Please do not name calling us, we are not involved in this at all, it is all communicated to us on the day of the layoff to sit in some meetings. I am glad I am out of this place, it is just ridiculous.
I wasn’t lazy.. my managers loved me.. they wanted me to apply for an assistant manager role at another branch… I was doing pretty good and did Chris mention it! I brought in a $800k from Santander and still got laid off… life su-ks but yeah my customers are moving funds.
Whoever that commented before this post! I understand banking is not easy! Specially this bank when the financial situation is bad… but they weren’t laid off because they were lazy? I think you need to go to a mental hospital! I think this is the third time you’re saying people were laid off due to laziness! Calling pregnant woman lazy, cancer patient lazy, or a mum who works tirelessly to make ends meet.. lazy? I wish whoever you are you lose your job and never succeed in life. Are you fu--ing the CEO of the bank to defend the company so much? Probably one of the CEO side chicks! Pu--y! Go look yourself up the mirror and think to yourself what an ugly person you are! You should disappointed of your existence! I hope you suffer oneday!
I am not sure why people are saying those laid off are the best employees. I personally knew one that was laid off and she is a disaster, day dreaming in office and not working at all. You need to look into the mirror and ask yourself why you are laid off and not others? 8% is reasonable for a company this size that is not going well financially. Why complaining and not focus your time and energy in getting another job? No company will hire back laid off employees, that will be a PR disaster, take the severance and look for other job and move on!
This company is a disaster. I hate working here and am dying to get out, but it's easier said than done to find another job right now. I feel like I'm mentally on the verge of quitting every single day. The management is the worst I have ever worked with and I regreat ever accepting a position at this place. I truly wish everyone impacted the best. We deserve so much better than this cr-p.
They leave branches short staffed now and want to push more deposit growth for an unreachable amount for these branches?! Nothing like firing people then lighting a match under an already short staffed branch to meet goals to get bonus. It’s setting them up for failure. Sad,sad
Also the manager on here trolling. Everything said is 100% correct. We had a valuable employee let go and a new hire that su-ks, stayed. They didn’t even give managers say in who was to go. They made decisions at the top and didn’t even take the managers opinions into account. They literally filed good a-s people and not to mention they fired people that were on maternity leave and fired people that were going through cancer treatments. Facts!
These posts are not factitious.
This bank is fu---d. The new owners and let’s agree that this bank was bought by these “investors”, are packaging the bank for sale. Sandro was played by Mnuchin but he was just trying to save the stock for his own benefit. They bought a bank with a billion dollar investment and treating like personal piggy bank.
The OCC was sleeping at the wheel when they allowed the acquisition of Flagstar.
Yeah! All these managers who got their jobs and commenting here like they own flagstar! You’ll be kicked out as soon as they did us! They’ll drag you down like dog ba--s lol and take your a-s around town
I am one of the active managers, no one was laid off because they were lazy or job was unwanted. The bank is running at a loss! I’m getting my a-s outta here!
Is the Mr. Cooper deal still set to close this week? Does anyone know if there will be more layoffs outside of the people who have already been told? This is all so sickening.
To the Manager calling most posts here fictitious: seven hundred people, with more to come, just lost their jobs. We are angry, we are hard working, and we busted our as--s trying to make our goals and do everything we we’re asked, no, demanded to do. We have every right in the world to be mad, especially those of us who were there for decades. While some may have been poor performers, and branch compliments were changed, the fact remains that a greater number of those laid off did not deserve it. And I can only speak for myself as far as pounding the pavement looking of another job but you can bet your obnoxious a-s I’m out there doing it, as I’m sure many others are. You’re making blanket assumptions about us, and you know what they say about people who assume.
Answer me this: YOU obviously have your job, what are YOU doing trolling a layoff board? Gathering intel? Soothing over a fragile ego? Do you feel better about yourself now? Go make your NextGen calls instead of taking swipes at people who are hurting. Be an adult, not a school yard bully.
I am a Manager at the Bank. I can assure readers that most of the allegations in this thread ARE FICTITIOUS!!!
For those impacted, please focus your energy on getting a new job rather than lying about the situation. Most laid off workers are either low performers or positions no longer needed.
I’m shocked to see this thread! I don’t know who will be laid off next time! Hate working with the branch members at west Brighton! attitude of this assistant manager and teller! Jennifer you need to be called out for your actions! Can’t remember the teller name! She has some ugly attitude! I hate working with these people!
Guys go comment on Reddit! Go comment on quora, indeed, Glassdoor and LinkedIn! Make your fake profile to stay anonymous! Fu-k the people who decided to lay us off!
Guys make fake emails and make posts on Reddit and quora and Facebook threads Instagram TikTok… do everything you possibly can do! Remember the internet is the strongest force! So give them back what they did to you!
They hired expensive execs and laid off rank and file employees who do real work! Way to fail, RIP NYCB!
Wow.. just read the earnings release
All of these fancy titles they’ve hired and they still can’t figure sh-t out.
Sounds like your layoffs should’ve started at the top
A complete freak show at Risk and Regulatory Affair department. The OCC should do a better job to unearth so many things wrong in this bank! Lots of skeletons in the closet!
For the thousands of people that have lost their jobs the issue has nothing to do with you and everything to do with reckless decisions that were made by people at the top. They have tons of work that needs completed and still have no action plan to achieve it. They share graphs and charts selling a campaign and at the same time mumble that the plan hadn’t been approved by the OCC. They have named the plan with a catchy title of simple and sophisticated. Sounds like an outfit they are describing on the runway. This is an expensive marketing ploy that really means do more with less. They go on and say they don’t have the people in the Risk area they need but they are going to hire. If someone actually entered the movie set they would see the characters are just that and the buildings are not complete just cardboard cutout fronts.
Lots of work from home people who do nothing and just collect paychecks keep the job. Hard working folks who go to office everyday, sacrifying personal life are laid off. HR, IT, Risk etc are extremely bloated such that you can hide from home and not logging any key stroke for several weeks and noone even know, I know at least 3 people like that and they all still have the job, talking about inefficiency, this bank is the worst!
Most Assistant Branch Managers are nasty as the employees do all the work for them and the Managers Basically take all the Responsibilities So they just chill and relax and get all the benefits.
I don’t recommend this bank to young professionals, their banking practices aren’t really up to standards.. even customer service is terrible! Apply to banks like Santander, Chase or even Northfield bank! They are amazing to work for! You learn a lot of new things from them! But in NYCB you learn about racism, attitude and unethical banking practices! Not saying about everyone but I was working with a nasty assistant manager!
The HR Person that sit in the layoff meeting should be laid off. She was so uninformed, could not answer a single question and beat around the bush by refurgitating the script she was given. That lady shows extreme lack of professionalism, was cold blooded and show no sympathy to employees when delivering such terrible message. SHE SHOULD BE LAID OFF!
Current employee here. DEI more important than people's jobs. Old CEO cangemi wanted to be King of the World and failed to see the risks and consequences of completing two deals in just a year's time. Long term employees lost hundreds of millions in stock value and retirement funds.
Commenting on the reduction, NYCB Chairman, President and CEO Joseph Otting shared, "We want to express our appreciation for our employees' contributions. Their hard work and dedication have been greatly appreciated, and we approached this decision with empathy and compassion for everyone affected."
I know that I didn’t see or hear the CEO in my last minute WebEx that I was commanded to attend with no warning and no idea what the call was about. I do know that my boss was sitting in the same room so that HR could help read the canned script. When asked questions HR would stumble and then reread the script because they had no answers. Blind siding someone shows no empathy or compassion and having random people do your dirty work only shows who you are. Not sure what part of the process showed where there was any consideration for this awful decision. Letting someone show up to work and be in the middle of multiple tasks and then see your connections closing out as they tell you that you are not required to go back to work is cruel. Hearing from HR that the situation is hard is easy for the person that has a job.
Today they sent out severance details and it is really nothing burger!!!! Really shameful how they treat long term employees like this!
Well know I guess some of us know how folks from the banks we acquired felt when they were laid off. I guess what goes around comes around. I know many are outraged, but look at what we did to others during all those acquisitions. Good Luck to those left behind to deal with the broken pieces.