Someone on this forum posted about layoffs for today (7/18) but I didnt notice anything. Honestly, I was stressed whole week for nothing it seems.
Do people just post without any real proof and make others anxious? What do they get out of such senseless posts?
26 replies (most recent on top)
Was informed that the next round won't be 10% headcount but 10% of total budget for the department / division. So the next round targets the high-income personnel mostly the old employees who are near retirement. Unfortunately along with them goes a lot of business knowledge and in engineering departments , technology area the current application implementation details
There WILL be layoffs in September. No doubts about it. How many and which locations are unknown to me, but quarterly is pretty common. What used to be underachievers is now more expensive employees from non growth sites. Not all employees will get let go. Just the ones that are older, more expensive.
42 has never written anything even remotely cruel. No, 42 blasts the people who keep announcing fake layoffs just to wreck their emotional health, even as layoffs have become ever rarer and smaller.
Now THAT is a positive message no ,alter how you look at it.
Reading telling everyone what they are seeing means nothing because it’s not what he experienced 20 years ago and has also been retired for at least 10 years. You do realize
False. 42 has felt the pain of layoffs several times. Because of this he has tirelessly encouraged current and former employees to not worry about layoffs as they are so exceedingly rare and so very limited.
42 is also a tireless career coach who has long focused efforts on this board focused on encouraging good people with a great track record to make career moves, including supporting three lifers through the external career game.
Nobody hates the Bank as much as 42
False. 42 has been retired for 2 1/2 years after 42 years of working at, competing against , partnering with, selling his financial products to and providing custom solutions to a variety of Custody Banks across the country.
Mr 42 is also cruel and mean spirited telling everyone what they are seeing means nothing because it’s not what he experienced 20 years ago and has also been retired for at least 10 years. You do realize you are making it worse? You find a sick joy out of this since no one knows who you are and can’t get you booted.
@3urs Nobody is fighting RTO. Get over yourself. We may be complaining, but we are coming in the office as requested. And senior managers are actually starting to approve remote work again in shrinking centers. There aren’t many people actually leaving at the shrinking centers. It’s mostly layoffs as most of us have been here a while (since all staff and supervisor positions have been eliminated) and are just waiting for our sub package. I’ve been in meetings where senior managers are asking for 10% for Sept, but that’s pretty impossible as there aren’t many left in each group. 1 person from each team would be more like 20% or more.
Yes. One of our sick jaded coworkers gets kicks out of announcing impending layoffs which never materialize. What kind of a jerk scares people just for the fun of it.
Careful what you wish for.
The 2000-2008 10% per year was truly terrifying. I went into a conference meeting uninvited but needed to attend to voice some concerns on a key project that was failing badly. The participants asked if they were being displaced. I had to quickly calm them. In those days I did displace for cause, but refused to sign off when I knew that so they calmed down.
Another time we were in a conference call and one haughty NYC suit, er, “manager” was on the call, and started demanding in that typical angry caustic NYC haughty attitude demanding an update status and he asked four times. Finally a coworker said, “you know that x-x (from NYC) let him go today? We all laughed and the pompous ahole said “I can’t believe they didn’t tell me. He was terminated soon after.
My manager was told he had to include training someone in Lake Mary on his job responsibilities as a goal for this year. We are not in a “growth” location. I think that about says it all.
I do think we are now at 10% annual staff turnover (minimally) again. Hear me out:
- managers are required to have 10% below or partially below expectations.
- In the subsequent months, we are instructed to take actions on these folks. Either PIP or (and?) go.
- our headcount stays the same (even grows) and when those folks are hired in strategic growth locations.
Thoughts….
Layoffs are definitely happening now in locations not designated as growth locations. It’s just not as public as it was before. Years ago, your manager walked you down to HR and then back to your desk to pack up your personal belongings in a box before escorting you out of the building. Everyone seated near you or passing by could see what was happening.
Now your manager calls you (typically when you are at home) and reads from a script to let you know your time there has come to an end. In the past few years, that’s what happened to several of my team members. A few weeks ago, it happened to me. No reason given. No policy violations and no performance issues so I received a full package (52 weeks - 2 weeks for each of the 26 years of employment).
Every time team members were let go in my location, there were no reductions in head count because the position was subsequently filled by someone in a growth location (usually Pune, sometimes Lake Mary).
Speaking from personal experience, I agree with @1upv. When it happens to you, it is 100%.
@1qjq I don’t have it good here now a days. I wish it was back in the 2007-2010 era. A whole isle (team) of employees just suddenly disappeared a few weeks ago. Things are getting more and more empty. In all my years here, I’ve never experienced anything like this. It’s quite depressing. Senior management isn’t being open and honest about the plans and timeframe. That’s what’s making it worse and creating speculation. But it isn’t a lie. Teams of people are dropping like flies. It all depends on location.
@OP+1tzLN6J4 It’s because you got s***heads in here who got no life, work and facts to scare others when nothing is going on. They love to cry and ruin others livelihoods
So that you have a historical perspective and can understand how good you have it.
Yes, the 2000 to 2008 10% per year layoffs were a Mellon thing.
When you are the one being impacted by a layoff, it is 100% to you.
These 10% annual layoffs must have been a Mellon thing.
Er… January, February and June 2024 are not way back in the past.
Allow me to guess… University of Phoenix graduate?
Oh wait… are you that dude that I had to teach how time zones work?
In that case oh yeah, sure… January, February and June 2024 are way back in the past.
That is the nature of this forum @OP. Just like fact checks have to be made on anything that is uttered by the office seekers in this election year - the statements here 99.9% are lies
And this will be effectively removed by the moderator who knows that this forum is full of lies lies lies and still encourages that than being a place for information for those who are concerned.
@wgj Why do we care how bad it “was”? Yes my location had layoffs in 2007-2010. The numbers for us back then were pretty low. Now people are disappearing left and right. The build is getting more and more empty until it all closes and goes to India. The positions that close today will never reopen in US like they did eventually 15-20 years ago. The situation is not the same. Stop living in the past. This website is about current layoffs not ones that happened 20 years ago. We don’t care what you went through. It’s old news. You are just making it worse. You’re psychotic.
We had layoffs last month and next round is in Sept at my location. Depending on your location you may or may not even notice. It’s very easy not to notice especially since we have a hybrid work environment as it is and the official layoff happens after someone gets home if they were in the office that day.
Not reliving the past. I’m referring to the three hyped up ultra-scary layoffs this year… Jan, Feb, June. Total displaced employees from the three? You can count them on one hand.
And yes, I came in to watch. In the real layoff era of 2000 to 2008 you didn’t have to ask if it was happening. And nobody had to ask.
42 always reliving the past. 😂
It’s just really sick people who seem to enjoy scaring people with imaginary layoffs.
Make no mistake, these are very sick people who make up and spread these horrible rumors.
7/18 was the date that names needed to be provided for the September cuts.
And for 42 - if you still worked here, then you would know that the cowards conduct layoffs remotely now.
Yes. There are constantly rumors which never materialize.
I attended 5(3 January, February and June layoffs. Not one of them was even a fraction of the layoffs which we had from 2000 to 2008, 10% per year, every year.
It’s far better to be afraid of fake layoffs than to experience the terrible layoffs o which the boomers were subjected.
People really have no concept of how bad it was.