#demotion

Any truth to the rumors of people being told their position is being downgraded to a lower grade level, and they can either accept it or leave? Are they offering a separation package for those who do not accept this? Wondering if this is true and what roles/business units are affected.

Does anyone know of someone who was demoted (voluntary or involuntary), and did they receive a pay cut if their current salary was within their new, lower band?

If the buzz is true, a lot of SLs are facing a demotion to G7 or getting cut, but the group squad leads will probably keep their G8 status.

Thanks for attention to this matter!!!

Anyone else get the social media refresher. That's the funniest thing they've put out in a while. Says to report any violations, but to who. FL has a director that got demoted from manager to engineer for posting a racial comment. What was the end game, a promotion to director, 6 months later. So keep sending us these "guidelines", they don't mean nothing and just gives us a good laugh.

I heard there were quite a few layoffs in Audit Services today. Is this true? I’m hearing several directors, the Lead (Senior Audit Manager) position is effectively gone and those in the position were either demoted or laid off.

I’m also hearing PNC NMC next?!

The new ecomm chief means Yael is replaced or demoted right?

This week is off to a great start-a department in OTS was hit with demotions and salary decreases. Not performance based, based on job title alone. Long term BAs brought down to FAs, despite no change in job duties. Just the moral booster associates need.

AVP title to be removed. All title holders to be demoted or laid off

Wells Fargo newest tactic of getting rid of bodies is to demote people. HR demoted a significant amount of people with the rationale that the work is not important (anymore). The teams were very involved with the regulatory oversight and consent orders but apparently that's not important anymore. So beware guys. It is a bit wild considering their just taking peoples titles and officer titles away, demoting some people from salary to hourly. Even directors weren't safe from the wrath.

Looks like lot of SLs in wealth were pushed down to G7 .Will their salaries remain same ? Will this happen in other BUs as well ?

Job title downgrades coming for VPs of all levels and Directors of all levels. The company needs to save money and this is the logical way.

Has anyone ever seen a demotion? My boss was demoted from AVP to Sr Director, I'm worried about my job.

Can Execs get PIP’d or demoted to Non-Exec due to poor ranking?

Demotions?

As part of re org, I noticed that some associates who were previously managers are now individual contributors. Was this a demotion or a lateral move? If it was a lateral move, does that mean their salary remained the same?

What’s everyone’s take on the demotions that are coming? We did have a bit of title inflation, but this project seems drastic. Some people are taking a huge hit to their title and external resume value.

I really think leadership is massively underestimating the morale impact of this project. Bain is demonstrating that they don’t understand our industry in doing this.

I'm seeing some linked in posts where people are 'so excited to announce I'm taking a new position as a director in Fidelity blah blah ' where they were formerly VPs. Of course one in particular I saw scrubbed that gleeful vp announcement from 3 years ago from his linked in page. Are there people who took demotions to stay in lieu of getting $hit canned or is this some sort of universe correcting reorg?

The latest circling HQ is anyone with a “manager” title without direct reports is going to be demoted to specialist / coordinator / analysts whatever the respective position would be. Hearing minor impacts to base pay but would impact bonus % and stocks.

A commenter said: “leadership needs to be realistic about the culture issue. There are people on both sides who clearly don’t even want to be here anymore. Fine — give those people strong packages and let them move on. That is not the reality at VZ. It was demomstrated that VZ is a cliquish club. They downsize those who they dont like. They dis not care about performance.

So heard in a meeting today that MS has some managers getting demoted, overall wholesale changes in leadership in some groups, folks with 10 years in DS leaving...

So whats really going on?

Maybe your role wasn’t eliminated but it’s different now… you’re managing a lot more people suddenly or not managing people anymore? Or you were asked to go down a level in title or comp?

Settle down P4’s - no one cares about what you were prior to be being demoted from a “manager” position which you probably still hold dearly to your blessed heart. You are nothing more than a glorified wanna be. P5’s with no reports stop pretending the Executive Director role means something. You are executive directing yourself. Please lord let me be let go on the next few weeks.

Rumour mill to confirmed that managers M2/M3 are being asked to drop to IC level. Rumor from my M5 level buddy is that the plan is to PIP these folks quickly and work them out without severance. The belief is that most won't be able to show value as IC4/5 if they have been managers for a few years quickly. Saves the company a boatload on severance costs. Also a downgrade might help a few quit themselves again saving seperation costs. The later is already happening in some offices.

Associate, Advanced, Expert, Principal etc. ?

Heard a rumor that this restructuring led to somewhere near 50 people getting title changes like “soft demotions“ and it’s in these people didn’t even lose their salary but they’re going to be asked to train others on what they do and then demote them further (with pay cut) or eliminate them by end of Q4

Considering they demoted the majority of sr managers last February... Which su-ks bc my manager was AMAZING! New manager/director is cool but he has no clue wtf we do on a daily basis and has no personal relationship with any of us.

I've never gotten below a 4% raise so hoping for a 6% this year at least.

So the HR management call happened about the upcoming pay and performance week and some interesting but not shocking news. Apparently, with the restructuring in the career architecture and demoting everyone to lower titles, this also includes new lower pay scale bands for those titles and roles. So if you were a person who was previously in a role that now has been artificially demoted with a new salary band that is lower than your current salary, you will not be eligible for a merit pay increase because you’re outside the band for your new title. Just another way to squeeze people and not reward them for good performance. Comment on this if this turns out to be true next week.

It's so lame both leaders are not even making eye contact. RA doesn't want to talk about his demotion. Hopefully, they are finding a replacement to consolidate all compliance departments.

Is the company interested in trying to keep any District Managers that might want to take a demotion to Store Manager? This would allow the company to keep experienced people and get rid of less qualified people, no?

I am just wondering if the fact that DMs will be laid off, if that means that store managers will get fired to make room for DMs who want to stay as SMs.

Disappointed in the firm. Not only was I reimagined , received a demotion and changed from salary to hourly, but that put me into a category where my merit raise is about 1% and bonuses are half of what I used to get . Not to mention the force back to office 4 days a week, tracking your location when you open up documents. Since when did this turn into highschool?
Why is this happening? I have been at the firm a long time. Nothing like this has ever happened. So much for work life balance

They're charging 10 dollars for those they laid to access their W-2's. I guess they might profit off the people they demoted to customers.

During the all hands meeting we had the other day the VPs were saying they were looking to change current employee roles to, essentially, lower level roles. They’re basically giving out demotions but saying they’re good opportunities for growth.

They’ve already started doing this by forcing engineers and coordinators into drafting OSP designs.

Sadly not many people are complaining or raising concerns, and an oddly large amount of people are “excited” to provide “value” to the company.

This layoff has a special experience. What a shameless Sr Director, Director and Sr Manager taking any position. These people are taking low level positions. Shame shame. What is your comment??

The strategy, who they chose to lay off, demotions...unless the goal is to ki-l morale and destroy the company. Then, things make perfect sense.

I'm hearing SMRA & T100 Just got hit with demotions or layoffs. Can anyone confirm?

Many people asked to take a demotion.

Sr. Manager to Manager
Manager to Sr. Engineer

This su-ks

How does one go from being a VP to manager in their next assignment? Does that show that the MC made a mistake in promoting the person and that they have topped out? Have they reached the level of their incompetence?
I’ve seen this happen in a couple of businesses recently and curious if this is a metric that HR should track better? What’s everyone’s vote?

From my perspective in accounting, this keeps happening. They release senior staff to balance the budget, but the underlying strategic errors remain. In my twenty years, I have never witnessed this leading to genuine recovery. It only demoralizes the teams left behind to pick up the pieces with less support.

Pic will be managers of entire store. Demoting FS managers into ops

Anyone look at their upcoming paystub yet? The way they calculated their fuzzy math on 27 pay periods is they reduced the wage Rate. Is this legal? It’s like we all got a demotion. Unless you survive to 2027 to get the catch up payment. I’ve never seen a company handle things like this before. Usually, they catch you up in the same year and do it in a month that has five Fridays. I’m sorry there is zero way you could make it make sense except that this is a way to leverage our money for their pockets. Completely demotivated to ever go that extra mile again at this company,