I've made a career out of work at state and local governments. Never seen someone layed off for any reason besides diciplinary reasons. Never made as much money as my colleagues in the private sector but less stress.
I think we found the problem!I've made a career out of work at state and local governments. Never seen someone layed off ..................
Smart man.I've made a career out of work at state and local governments. Never seen someone layed off for any reason besides diciplinary reasons. Never made as much money as my colleagues in the private sector but less stress.
That was not an accident.Missed being pension eligible by 6 months.
So since late 2021 the bank I work for has been in the process of being bought out by another bank. They finally received regulatory approval to complete the sale a couple of months ago and we are currently in the integration phase of merging all of our systems and figuring out where there is overlap in staffing. I've been anxiously waiting to find out my fate for a very long time. My strategy all along was to just save money, keep my resume updated, and take every opportunity to learn a new skill or help out wherever it was needed. I learned today that they are keeping me but about 70% of our department is being eliminated. It's kind of an odd feeling. I thought I'd be excited to hear the good news and maybe even take my family out to dinner to celebrate having this weight off my shoulders but instead I honestly have what I can only describe as survivor's guilt knowing that a great deal of my friends and co-workers are receiving much different news this week.
On the bright side, they are offering a pretty fair severance package to those that are being let go and they are getting pretty advanced notice.
Depends on the deal. Some M&As are like the Borg -You will be assimilated. Resistance is futile.So since late 2021 the bank I work for has been in the process of being bought out by another bank. They finally received regulatory approval to complete the sale a couple of months ago and we are currently in the integration phase of merging all of our systems and figuring out where there is overlap in staffing. I've been anxiously waiting to find out my fate for a very long time. My strategy all along was to just save money, keep my resume updated, and take every opportunity to learn a new skill or help out wherever it was needed. I learned today that they are keeping me but about 70% of our department is being eliminated. It's kind of an odd feeling. I thought I'd be excited to hear the good news and maybe even take my family out to dinner to celebrate having this weight off my shoulders but instead I honestly have what I can only describe as survivor's guilt knowing that a great deal of my friends and co-workers are receiving much different news this week.
I'd start looking for a new place of employment anyway. In most cases, 95%+ of the workforce is gone within 12 months of a takeover, acquisition/sale/etc.
I would have been gone long before today....
Well said. It's a way to trim the dead wood off the company tree. My company waited far too long to do this and it dragged the whole company down. Usually the best are kept and less productive ones are given their walking papers.I have survived a few RIFs. I never felt guilty though. I missed my friends but life goes on. I gotta take care of mine. I didn’t ask for it or do it so I didn’t feel guilty about it. I guess I figured better them than me, as horrible as that sounds.
More or less, yes. In 2004 I worked in health insurance. You know the culture not too different than banking. 7 VPs for one front line worker, but as a front line worker, $125/day per diem, $500/night hotel OK, 2 off-site training and 1 conference per year. For IT support staff. This is also imho indicative of insurance for those of you who work in the field. I could not ship a UPS package that would cost maybe $11, without approval of my mgr, and my team lead. 2 approvals. So they cleaned house when we lost a huge contract, I was not let go but my coworker was. I remember worrying and taking out a heloc (Back then essentially no fee no minimum draw they were issued like candy) in case I lost my job. What I learned was two things:So since late 2021 the bank I work for has been in the process of being bought out by another bank. They finally received regulatory approval to complete the sale a couple of months ago and we are currently in the integration phase of merging all of our systems and figuring out where there is overlap in staffing. I've been anxiously waiting to find out my fate for a very long time. My strategy all along was to just save money, keep my resume updated, and take every opportunity to learn a new skill or help out wherever it was needed. I learned today that they are keeping me but about 70% of our department is being eliminated. It's kind of an odd feeling. I thought I'd be excited to hear the good news and maybe even take my family out to dinner to celebrate having this weight off my shoulders but instead I honestly have what I can only describe as survivor's guilt knowing that a great deal of my friends and co-workers are receiving much different news this week.