PNC has layoffs: rest of banking sector to follow in lockstep?
(www.youtube.com)
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I know a guy who works for pnc. The layoffs seemed to be hasty. They cut lots of key ppl who did specific tasks others don't know how to do. Nobody working there saw it coming either.
Interesting! I suppose cut people whom the managers don't know their tasks and liquidate the laid-offs' portfolios.
TWO MORE WEEKS?!? Is someone reading this board?
Looks like strange things are afoot, again. The banking sector layoffs begin with PNC. PNC had survived the 2008 financial crisis by laying off employees, before the rest of the banks.
Now it looks like the tightening credit is reaching a critical level, and cMBS are preparing to roll over their debt. The video explains more, but things are looking rough for our economy.
A global war with LOTS of emotional psyops occupying our news cycle sure would make a perfect time for the rest of the banks to follow suit, virtually unnoticed.
Citibank has told employees that big layoffs are coming within the next few months
In 2008 PNC did layoffs to show they were in trouble and got bank bail-outs which they turned around to buy Equibank and National City bank.