When will it continue?
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So were there layoffs?
in progress
My favorite is when you have the perfunctory re-orgs every year and the new incompetent manager changes everyone's roles and who they report to. This of course creates chaos and destroys productivity. Then they rinse and repeat.
GO is messed up. There are "managers" with no direct reports.
“You can go through 5 managers in 5-10 years”. “
Uh, I’m on manager #5 in 16 months time in this role.
So it is 06/27. Anything happen in your area? A non event here
Genuinely asking- how would that even work? bB merged into retail?
I was the asker about BB and consumer and your responses were quite helpful, thank you!
There are no layoffs in my area. Competency is at an all time low and a lot of people are very bad at their jobs and highly inefficient. So low pay, low skills. It's really a great place to be if you can tolerate mediocre pay for good WLB.
@1cpb+1nhDriIO
A senior exec in my division whispered redeployments. Is that what is happening on 6/27?
@2chb+1nhDriIO - all true. That is management's playbook. (the only strategy they have apparently)
I was just trying to clarify the situation for the person who thought BB was already merged.
Will be interesting to see what the Bank's headcount is at June 30 for Q2 earnings and what they make up to say about it.
Good explanation but I think we're losing the forest from the trees. The point is that the bank has multiple "change" mechanisms that result in indirect layoffs - including re-organizations, geographic "re-alignments", mid-management turnover and replacement, division mergers, team re-grouping, and any other number of similar chaos-inducing "changes" that upset the apple cart and cause mass upheaval. These are rapid-fire and happen every 1-2 years. You can go through 5 managers in 5-10 years, 5 different territory alignments, 5 different sales quotas, etc. Any step of the way and they can downsize without announcing a "layoff".
@1aml+1nhDriIO - follow the thinking here:
- BB was moved into the "Consumer & Small Business" division a few yrs ago (when the legacy Global Banking & Markets group was broken up).
- Of the six primary businesses held in C&SB (i.e., GCB, BB, SBB, Preferred, Retail, RPWS) -- each of these businesses remains separate. (separate leader, separate management, separate financial reporting, separate systems, seperate processes, etc.)
- There has been talk of merging -- pick your combo -- a) BB into GCB (how it used to be in Darnell days), b) BB into SBB, c) SBB into BB OR the doozy - BB AND SBB into Retail. (huge expense savings by eliminating duplicate leaders/mngts/reporting/systems, headcounts etc)
I am not clear on whether the comments here refer to merging BB and SBB only (any which system/process would they keep?) or merging BB and SBB into the actual Retail franchise.
But for now, they are all quite separate. The only thing they have in common is the 6 leaders report to the same guy.
Bb and consumer are already under the same umbrella. Im Confused by those saying they’re merging.
We will probably not see any real layoffs until 2024. Right now it will be just natural attrition. The merger with BB and consumer is real but not til 2024.
Layoffs are still happening, but under cover. They are merging business units and leaving higher paid older employees high and dry, forcing them to quit by corralling them into "telemarketing" jobs, slashing merit pay, micro-management, unrealistic quotas, harassment, etc. See the thread about BB merging with Retail as textbook example. Just not the dog-and-pony show layoffs that are announced in the press.
Continue layoffs? It’s not even started and will never start. I’m the first one to jump the wagon if there is such thing.
6/27
What's that? Ah layoffs? Don't talk about layoffs? Layoffs? You kidding me layoffs? I just hope they can a mutherfocka to layoff from this shilthole company?