Over the last couple of years as banking has been a tumultuous industry and our team has been in fairly constant transition, my boss has met with me a couple of times a year to make sure I am "ok" and tell me how much they value me and basically try to make sure I'm not looking for a new job. I've been there longer than anyone (including him), and he relies on me for a lot of things outside my basic job description.
But this meeting was different. Actually, it was like deja vu. He started out by saying that there are unfortunate changes coming down the pipeline from corporate [headquarters] and that they are going to impact me. He seemed upset and was rambling, so I figured that another one of my colleagues was being let go (which has happened five times in the last 3 years). I'd heard this all before, and my poor boss is not good at delivering bad news.
As I wondered which of my teammates he was talking about this time, I heard him say, "and I just think it's a huge mistake for them to let you go." I had been nodding intently and simply continued to do so. He was talking about ME this time. I was going to be part of a RIF - a Reduction in Force - and although it wouldn't happen officially for a few weeks, he'd found out my name was on the list and just had to go ahead and tell me.
I was surprised, of course, but I didn't really react. He went on about how they were eliminating my position across all markets and that he would have never made this decision if it were up to him and how we just aren't devoting resources to developing bankers anymore. Basically there is only room on the payroll to poach senior bankers who can bring in millions and millions in loans/deposits each year. In addition, it's become clear over the last few months that the strategy in our Private Bank has shifted from traditional banking (loans and deposits) to other revenue sources such as trust, brokerage and investment management. They are hiring on that side and reducing on the banking side.
All of this makes sense to me from a managerial standpoint. Our company is conservative and has basically no lending appetite which has made it decidedly less than fun to be a banker there for the last couple of years. Still, it's the only place I've ever worked full time and I truly like all my coworkers and I've literally sat at the same desk for 4 years reaching my goals with little to no effort really required.
I told him I didn't take it personally, that I understood the situation, and that I'd actually already talked to another bank about a position because I'd been sensing the need for a new challenge anyway (I threw this in almost to make him feel better, as I could tell this was really hard for him to say to me). He told me that while I still needed to come in and help with the transition, my schedule is my own and I can do "what I need to do."
I went into work that day and my boss told my teammates the news one by one. It was so surreal, and I hated for people to feel sorry for me, but I experienced such an outpouring of love and support. People were coming out of the woodwork to offer me leads and contacts on other jobs. I thanked them all but said I was going to need a few days to process the news before meeting with any new potential employers.
Oh, I also swiftly cleared out my office and hard drive and emailed myself every document I thought I could possibly benefit from having. I'm so glad they gave me the opportunity to do this, and I had a TON of personal stuff on my work computer - rental records, personal income tax documents, etc.
I also emailed the recruiter from the competitor bank I'd been talking to and told him I was very much looking forward to our next visit. He'd told me earlier that week that they were "ready to make me an offer," and I'd only JUST scheduled a trip to their headquarters to meet everyone up there and get a better feel for their culture.
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