Saw a B1 presentation in GTO talking about B3 strategy....next tranche of cost saving....if you are an inefficient B3 that isn't having your team execute cleanly and handle init $ efficiently, look out. Base funding going poof. Make sure the upstream that expect you to do something that was historicallybase funded are aware (ie push back hard and don't commit)
7 replies (most recent on top)
GTO resources are cut every quarter. In fact the previous cuts were so drastic that GTO is now ending up hiring new employees that get 25% more compared to existing employees with 15+ years tenure. New hires are raking it in with Band 4 employees making 170k+ and Band 5's making 150k+. As more and more existing employees learn of these new pay scales, they will quit and move to Chase / Wells Fargo. If you look around, you will see employees that just got SVP title leaving bank, which proves that the low pay raises, limited promotions are now back firing. Its time to restructure HR and fire the compensation team for doing such worse job.
Base funding goes poof every year. Yet they still manage to get work done. It’s all funny money.
The only thing GTO band 3 and 4 care about is Patents. I honestly think they let those that created patents have high leadership positions but are awful at what they do.
I created (insert patent #) but I literally suck at my job and do nothing all day
So many B3's that have been around a long time, have a history of failure but likely will remain at their bands for many years to come. So basically, I'll believe it when I see it...
GTO is a mess. People are significantly over paid and very light on workload and knowledge. They hired a lot of people recently but not employees with the right background. They get a budget and spend it all. They need to do massive cuts in that area.start from scratch.
GTO is a crazy hot mess, overly processed, confusing reports, inconsistent direction, bad data, the list goes on
Nowhere in GTO I have seen is running inefficiently. If we were a McDonalds, we would have no cashiers, customers order online. Single cook only allowed to work alternating hours to cut costs. Rats used to clean up any food droppings at zero cost. I'm sure they are looking at ways to have the cook make burgers at multiple restaurants at the same time.