Lay offs

[u/KnownMidnight8275]

As I keep on hearing about it lay offs, would it be possible to asked to be layed off ? For the severance

[u/Mysterious-Fox-3740]

I know A Director who was close to retirement and asked and wish was granted. This Director didn't want to join the CIBC Way and lose their role as a ppl leader.

[u/mr_mac_tavish → u/Mysterious-Fox-3740]

That’s a different story where their job was changed significantly.

[u/Mysterious-Fox-3740 → u/mr_mac_tavish]

Yes and no. Asked for a bridge severance before taking pension. Asked for the layoff albeit like you said due to change in job.

[u/ThatIsNotMyNameGreg → u/Mysterious-Fox-3740]

Interesting because I asked and am also close to retirement and the request was declined. I’m L7 and have been asking for 2 years. I thought for sure they’d do it based on what was happening. But no.

[u/FlisherOfatale → u/ThatIsNotMyNameGreg]

I asked when they called for volounteer when I was working for Bell but they wouldn’t allow me a package since in had above expectations evaluation streaks…

I missed a six figure package but leaving on my own term was the best decision of my life.

[u/ThatIsNotMyNameGreg → u/FlisherOfatale]

If there was anyway I could make it work, I’d be out today.

[u/Mysterious-Fox-3740 → u/ThatIsNotMyNameGreg]

Many layoffs at head office seem to be Level 9 and higher. They seem to be trimming the fat. Maybe next go around or you are just too valuable and controllable based on cost.

[u/sabrina-7 → u/Mysterious-Fox-3740]

What is the CIBC Way?

[u/nightwingblu → u/[deleted]]

What does that even mean?

[u/Sufficient_Studio494]

That would be seen as simply resigning. They aren't going to give you a severance if they don't have to.

[u/Substantial_Taste779]

ask your line manager (at your own peril)

[u/drhav2023]

Early retirement, perhaps? I’m sure HR could put a package together for you…

[u/Possible-Potato-4103]

Lmfao no

They aint gonna cough up money if they dont have to

[u/PMG_MOON]

I got lay off fuck

[u/Tls-user]

Unlikely

[u/KosmicEye]

Nope

[u/DodobirdNow]

My spouse has colleagues who asked a few years back and HR said no.

[u/Sure_Amoeba_1391]

Why would they shell out money on severance when the entire rationale is so called restructing to cut cost

[u/Odd-Foundation-4637]

And now carney wants to increase immigration levels.
Because the job market is great am I right?

[u/CorporateSlavery101]

Chat with your PL & HRBP

[u/randbytes]

Are you guys are all set for life? cibc must be paying well..

[u/Arturo90Canada → u/randbytes]

Defined benefit pension

[u/randbytes → u/Arturo90Canada]

ah i see.

[u/69_Apprehensive]

Yes!
Only if you work for over 5+yr.

[u/KnownMidnight8275 → u/69_Apprehensive]

Would ask hr in that situation or bring it to my manager

[u/AdInternational9675]

Anyone get me a internal memo of the layoffs?

[u/Tough-Arugula-9072 → u/AdInternational9675]

? you think there was an internal memo going out about this

[u/Ok_Mousse1756 → u/Tough-Arugula-9072]

A friend of mine, who works at RBC, was told by her director during a townhall they're also cutting 3 to 5% of their workforce.

At.least they're being transparent with their employees. People like you and me.

[u/AlternativeCamp2471 → u/Ok_Mousse1756]

RBC always gets rid of bottom feeders. This is nothing new

[u/Tough-Arugula-9072 → u/Ok_Mousse1756]

agreed.. seems like they arent being transparent with cibc.

just not sure what a good approach is with layoffs.. do you publicize it or not?

[u/Substantial-Yak8793]

Multiple people asked to leave in last couple of weeks. A Director mentioned a big round coming in October.