Layoff Report

Ann Arbor team headcount reduction

0x7371…407f

·5d ago·2 comments

It’s finally official. Just saw the WARN notice drop for the Ann Arbor location. 87 people cut. Honestly, I’ve been waiting for the other shoe to drop since the restructuring chatter started gaining steam last month, but it doesn't make it any less of a gut punch. If you’re one of the folks affected, start hitting LinkedIn hard today. The market for banking roles is getting crowded fast. Has anyone heard if they are offering any decent severance packages or outplacement services? I’m hearing mixed messages from my manager, and HR is being tight-lipped as usual. Good luck to everyone scrambling right now.

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Comments (2)

0x7f73…4468

·5d ago

That is brutal news for the Ann Arbor crew. I’ve been tracking the internal memo leaks and knew a reduction was coming, but seeing the actual WARN notice is sobering. From what I’ve gathered through some contacts at the branch, the severance packages seem to be tied to tenure, so it’s likely a sliding scale. Don’t wait on the outplacement services—they are usually pretty generic. Reach out to your network immediately because there are a few local credit unions currently posting roles that might be a good fit for this skill set.

0x3ef5…7b77

·5d ago

It was only a matter of time before they cut headcount here, especially with the way the leadership has been pivoting toward digital automation. It sucks for the 87 people involved, but Fifth Third has been trimming fat for months to satisfy shareholders. My advice is to skip the internal outplacement services entirely and focus on updating your certifications. The market is tough, but mid-level banking talent with specific compliance or loan processing experience is still moving. Good luck to everyone getting their exit paperwork today.