Pros
My position hasn’t been eliminated (yet)
Cons
Employee morale has been in a downward spiral since the change in leadership. There are large reorganizations every few months, the dust never settling from the previous. The largest hit group is middle-upper management. Now, I understand that there are true opportunities to flatten/straighten hierarchies, but they are consistently making unwise choices in how to achieve a leaner workforce. They are targeting long-term employees, likely due to the fact that these tenured managers have higher salaries than their peers who are newer to the bank. However, salaries at this level are primarily performance-based, so they are cutting 1. People who are top performers, and 2. Those with deep experience and institutional knowledge. Not only are they proactively pushing out the people with keen insight into overall operations in their specialized area, they are hoisting all of that work to someone else who does not have the context or experience to manage it. Those who remain are quickly burnt out trying to learn on the fly while also people-managing unsustainably large teams. I personally have been a part of 3 reorgs in the past 4 months, including 2-3 job title changes (though my responsibilities remain the same). The manager I landed with (and the one 2 above him) have both bailed for other non-management positions within the bank, meaning I can expect yet another shakeup. Not only is this unsettling for the employees responsible for producing work, it dead-ends our career opportunities. I have no motivation to work towards upper management, let alone a lower executive job as I see their jobs eliminated every few months. I also feel that my experience is highly devalued. It makes zero sense in terms of long-term strategy; they might be increasing stock value today, but they are going to crash the workforce at some point and have no one with enough experience to pick up the pieces.
