What are your thoughts about potential PNC layoffs? Any chatter, news or rumors?
16 replies (most recent on top)
Instead of laying people off they are downgrading positions, and changing titles, people in management roles will be downgraded to individual contributors, and they are planning to force people back into the office. So instead of laying people off, they are planning for people to resign because they will be so unhappy and pnc won't have to pay severance then. The plans are already being put into motion...
Risk teams are expected to undergo significant restructuring, including reductions in headcount. Discussions are underway regarding the reallocation of resources. Current management layers are considered too heavy, with an imbalance between the number of managers and their direct reports, and efforts are being made to streamline the management structure.
Additionally, promotion criteria are being revised. The new standards will be substantially more demanding, making upward mobility extremely difficult under the updated expectations.
@18wg a friend of mine told me a lot of senior management is getting phased out. This was 2 weeks ago. Apparently they are calling it "restructuring"
Early August
800 bodies force moved against their will.
Job descriptions changed.
Given new managers and told to report up a different chain.
Fake feel good 'you're totally not being F*cked over' title given to the 800 poor ba----ds about to be laid off.
No compensation for destroying your career.
No prob - they're shipping your job over seas to a totally safe BR'I'CS country. No chance that Ranjeshkumar is going to use this for his side gig scam call center cousins data collection to call your aging parents to scam them out of their meager retirement funds.
Any news on today?
New layoffs this week. My entire dept. 36 people! Gave all of our jobs to overseas contractors.
@OP Definitely doing a soft layoff for call center employees I was one of them in June so I know they have been offering a ton of voluntary time off due to business regression.
@zsx what department/s are confirmed to have layoffs so far?
I can confirm there are layoffs. I was one of them
Cutting mortgage processing jobs and moving them overseas in May. Severance package through Dec 2025. My friend just got the notice.
They just did another round. It seems like they are doing them by department now instead of a massive layoff. 10% here this month. 5% there next month. Maybe they are trying to not hit the news?
I was told there will be layoff at PNC in early 2025. My team will be impacted as well. Currently looking for a job, but it is so hard to get a new job nowadays.
True that layoffs are rare at PNC. Reassignments very now and then or small numbers of positions eliminated (different from laying people off), but generally stable.
My husband currently works there. They laid off some employees last year, and they just laid off some this past week. Crazy.. he was safe but currently looking elsewhere.
Heard of at least two people this week from the Cyber teams. Not exactly sure which teams though
Haven't heard any. It's my understanding that layoffs are rare and the 2023 layoff was an anomoly.