Good luck
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Can confirm. 2/25 I was laid off via Webex (WFH posture)
A big chunk of people were let go from Tom's team in global ops in Nov i heard between 50-500. can't confirm the 500 is true but that's what was thrown around by everyone. my manager at the time mentioned it was among entire enterprise but what most were posting on this site
It was mainly global ops.
I know of 2 people laid off on Tuesday a B3 and a B6 who work in my department but I didn't know either of them well enough to get a lot of details but packages were handed out. This round seems way smaller than last
Did Global Ops under Tom received majority of the layoffs? I used to work in Ops as B5 analyst. Left 3 months ago because of the new manager being a pr--k and was asking me to train someone else he likes more and give him access. Seen the writing on the wall and dipped quick.
Sc--w Tom and that team. Always talk about efficiency and I had to create and maintain dashboards on employee metrics and individual scores. I regularly met with someone in the Workforce Department and had to create a metric on our FTE to see if we have "enough" people during seasonality trends. Probably just an excuse to layoff people. Fk the bank.
@hx+1jmxe4rqs - yup, cuz we're too expensive. I'd gladly take 18 months severance with full benefits and medical to bridge to Medicare.
Cheaper to make us miserable and hope we'll leave on our own,
So many of us long timers waiting for this but they keep ignoring us.
They’re not done. Got laid off this morning after 15 years. B5. One other of my team too in AML.
What areas? Location? Why so vague.
I know of only one in Delaware - mkt sales area. And it happened on 2/25.
You sound extremely narcissistic. Company probably saving themselves all that cringe. OH look I'm the best. OOOO my job was so important that it could cost million if done improperly.
We're lucky you're gone. AI can easily do your job way better and without your narcissistic attitude!
RE: @f3+1jmxe4rqs
Stupidity is thinking you are "safe" at any employer.
These layoffs definitely feel like one offs compared to what we saw happen last time. I haven't seen a reallocation to AML since May 2024 but we were told they sent over a lot of people and needed to train. A lot of those associates don't like their roles and will also be posting out at their year mark.
A good chunk of roles were within WMO under Tom S. The reasoning seems to be between under performance meets low/does not meet ratings and not needed. They generally have moved people to other departments like AML or credit before letting people go, so I think this was a swipe at "dead wood".
B6 role in WMO. Got cut today but had two new people start yesterday. Was offered severance with lay off.
I was let go this morning. Completely blindsided. Manager was horrible about it too. Not even a I am sorry.
Not even B4 are safe?
Confirmed band 4 under Tom as well and a handful of band 6 not contractors but actual analyst
Everything is so hush hush it will be a week or two before others notice. No one mentioned hearing anything on my side so I'd say they know nothing yet
I was impacted also in Global Ops as a B4. Of course I'm the only one in my organization in this location so I'm sure that had something to do with it. It from what I've heard it was pretty significant I just think it will take time for people to hear more and see what the total impact was. I'd venture to say 3%
Global Ops under Tom. I only know of one person effected B6, in office, offered severance.
Let me just put it this way. In my role, i dealt with situations, daily, in which a moment could cost the company millions if not more in the long run if handled improperly.
They missed the mark on this one big time. I was being disgustingly underpaid, he-l ive been getting job offers for 30% more without even applying to any. The money they're saving by laying me off is pennies compared to what they'll end up losing.
GRM - the only people affected in my group were those that worked from home.
Not required to file WARN with state unless layoffs equal more than 50 on a single day in a single address.
So, pretty easy to hide with a quick n-p and tuck here and there.
Am still here hoping for my layoff. I'd gladly take your spot to save your seat.
My heart goes out to those affected who didn't want it.
Global Operations under Tom had multiple lay offs (I heard), but can confirm in my specific flu (GTMO) a b3 and b4 were packaged out today.
@eg+1jmxe4rqs what LOB are you in?
I’m permanent WFH No accommodations. I was informed by my direct manager more to come. Apparently in a month or months. Not sure why I wasn’t chosen this round, but I’m sure I’ll be on the chopping block on the next round. It was said this group of people were appreciative of the severance. Hoping they remain generous to the next group.
Careful with that Lexapro comment. Worm Brain says that he wants to put SSRI users into facilities.
Cutting those who directly provide support to the money makers is a good idea? Perhaps they can count on those money makers to figure it out for themselves, im sure they'll love having to do that.
Did Elon delete the WARN office, how come no warning?
Well I'll go ahead and triple up on my lexapro because this place stresses me out everyday
Some got severance and labled “layoff” some straight terminated for other reasons (and they know why) but alot are one offs and not performance related, though they can say its that. There are lot of people that actually did their work and were meeting yet were laidoff but calling employees that work from home already and not via zoom or webex is insane.
These layoffs seem to be one offs and not large groups at once like what happened in Nov. is it performance?
Can confirm I know of 2 6’s and a 4 in wealth man ops. Supposedly to continue into tmrw 2/26.
Dang I'm sorry!
Not being in office is absolutely stupid. Were you offered severance?
Work from home employees seem to be an easy target. Though some were returning to office from LOA. All ppl of color as well. Seems it is no real reason and at manager discretion
Why isn't the bank required to submit WARN notices. I never understood that,
Severance?
sorry to hear.
"not being in the office and interacting with leaders" this is the most ridiculous reason
I can confirm. I was laid off this morning. Sr Ops Consultant in global operations/global credit. Reason was “workforce reduction initiatives” I think it was more about preference and politics. Although I have a medical accommodation, my manager told me that not being in the office and interacting with leaders had an impact on the decisions.
Some FTEs on my team got laid off, they weren't contractors. Confirming this is true.
Not sure why you guys are downvoting the vendor comments that's what they are contractors.. they signed a contract to work here for X-X amounts. I'd care more about a FTE than a contractor