Is another round of layoffs scheduled for March 2015? It looks like at least 1,000 people got let go today, this is nuts. Nothing on the news nobody is covering this, Target let go 500 people today and is all over national news, but we are nowhere to be found. People do not care which is very sad. Anyhow, do you think we'll have another round of cuts in March?
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The number was much more than 1,000 and not just Legacy Asset Servicing got hit. It was across all areas and subsidiaries.
Eventually we'll all be outsourced
Things are simply not looking good
The bank will make it publicly known on two counts, in my opinion, freely given, it isn't worth much. First, if material enough cost-wise to let shareholder interests know, i.e. big enough to cause significant expense to the bottom line and/or boost share prices. Secondly, if they are hacking enough in a particular state that legally requires them to notify state officials. I think different states have different thresholds, so if you hack say 1000 folks in one job action, you have to report to the state bureau of labor. Spread it out enough, no need to make a public spectical of it.
Based on what we are seeing right now, it looks like this round of cuts will be a long one, so Feb and March 2015 seem to be both months of layoffs