Ok, so I survived the latest layoff. What next? I had a successful career where I was happily productive, but due to the new organizational rules, I am now in a role for which I am untrained and unqualified. I may fail and be laid off (with severance) but I have a low tolerance for personal failure, so could look for a better job somewhere else (and leave without severance). Either way, I will satisfy the company’s desire for quicker attrition. :-) Chances I can succeed and stay? With management so unpredictable and morale so low, who would even want to? Everyone knows they could be laid off NEXT. Good luck to us all!
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To the comment regarding The NY Times .... I am a bit surprised as well about the lack of media coverage about all this given the bank’s role in the industry
When robotics take over...
What happens robotics start taking the jobs away from those managers? They will be kicked of their pedestal.
We've had a lot of reorganization in our area. Two managers laid off, with their people reassigned to other managers and some relabeling of the groups.
We have one additional manager who no longer has any direct reports - I'm surprised he made it through last week's layoffs.
Despite the almost complete lack of success with offshore people, we are still using them. Case-in-point, management just noticed that one offshore person has booked almost 500 hours to a current project, for a task that might take an experienced person 16 hours to complete. But hey, we're saving money, right?
Some managers on our team have been rebranded as. “ Individual Contributors”. Their people have been taken away and they will do the same job without management responsibilities. Should they be concerned they are soon to go? Very vague and confusing title....
Spans and layers? In a recent town hall, CEO mentioned reduction to seven management layers, and also said managers would have ten people. Expect some managers to be laid off, or lose their manager role. Surviving manager teams would increase to ten workers. And word is out that managers must also have a worker role to prevent them from being laid off as managers. We can all anticipate disruption, perhaps chaos and surely some sleepless nights. BNY would describe this as “transformation”, which suggests an image of butterflies emerging from cocoons. Maybe the people who get laid off with packages are the lucky ones who get to fly away...
There are no articles in the New York times on the layoffs which is surprising !
Our business line hasn't made organizational changes (yet). The management team doesn't communicate at all. It leads to more fear that my line of business will be eliminated.
At a high level, without giving away anything that would identify your specific team, what type of organizational changes did they make in your area?
Same situation here. This place is toxic
I am in exactly your situation. Good luck to you.