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Performance Improvement Plan in bank - this is the way out?

  • Last Updated:
  • Feb 24th, 2020 9:30 pm
[OP]
Member
Jan 23, 2012
416 posts
110 upvotes
Aurora, ON
motomondo wrote: Congratulations!!! (I guess). It looks like it is not a bad resolution at all.

I have been working for different banks for almost 15 years (don't want to post exact details). I have never met anyone who had to go through a PIP, so it means it is pretty serious.

In this case, it looks like your manager did not onboard you properly, and many other issues. Maybe placing you in a PIP was an over-reaction.

Good luck!
Many people were let go today.
This decision was made long time ago, not really having to do anything with my performance.
Of course within the team, I was the least experienced one and they needed to cut someone.
So it was me.
That needed to play that card and find good reason so it was no brainer.

Again, I am glad that they let me go.
Now I am working on RHCSA and AWS.
Deal Addict
User avatar
Sep 15, 2014
2283 posts
1087 upvotes
Scarborough, ON
I went through the same thing. It seems to me once you're put there, the decision has already been made and there's nothing you can do to reverse it and keep your job. If you even really want it.
The whole thing is just a formality, to give the appearance of fairness and an opportunity when there really is none.

Do not resign (unless you've already found a better job), even if they make your life difficult. That's exactly what they want. When they do get rid of you, you will get severance.
But do look for a new job. And do not give them any excuse to fire you for cause without severance (ie. don't do anything foolish).
This space for rent.
[OP]
Member
Jan 23, 2012
416 posts
110 upvotes
Aurora, ON
TheImp wrote: I went through the same thing. It seems to me once you're put there, the decision has already been made and there's nothing you can do to reverse it and keep your job. If you even really want it.
The whole thing is just a formality, to give the appearance of fairness and an opportunity when there really is none.

Do not resign (unless you've already found a better job), even if they make your life difficult. That's exactly what they want. When they do get rid of you, you will get severance.
But do look for a new job. And do not give them any excuse to fire you for cause without severance (ie. don't do anything foolish).
Yep. Was let go today with severance and full two months of pay. And yes it was exactly that. Formality.
I needed to sign it.
I signed on Friday for the coaching plan and what I am going to do next, and then today I was told that my position is eliminated.
Happy to go tbh.
It was unpleasant to be there lately
Sr. Member
Jan 1, 2017
918 posts
715 upvotes
doctor80 wrote: Many people were let go today.
This decision was made long time ago, not really having to do anything with my performance.
Of course within the team, I was the least experienced one and they needed to cut someone.
So it was me.
That needed to play that card and find good reason so it was no brainer.

Again, I am glad that they let me go.
Now I am working on RHCSA and AWS.
How many people did they let go? Must be CIBC or BMO because both announce coming cuts in their earnings announcements.
[OP]
Member
Jan 23, 2012
416 posts
110 upvotes
Aurora, ON
ProductGuy wrote: How many people did they let go? Must be CIBC or BMO because both announce coming cuts in their earnings announcements.
I don't know the numbers.
Was advised that I am not the only one.
Maybe they made that up.

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