My Position is Being Eliminated

Posted by Mrs Money on July 7th, 2009

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bt.jpgBack in October, the bank I work for was purchased by another financial institution.  I was devastated.  I love the company I work(ed) for, and after being with them for 4 years, I felt that I had a pretty good career going.  This morning my manager had a conference call and afterward she called me into her office.

The position I’m in now is going to be downsized and basically the only branches that will have an office manager (they call them assistant managers) are the larger branches.  Not only is my branch small, but there’s the probability that it may be closed, as there is another one of their branches within a half mile of mine.  So, needless to say, we most likely won’t have a position open at my branch.  They also were kind enough to tell us that the branches that stay open and do have assistant managers will have an employee of their bank be the assistant manager.  Great.

So basically I have some decisions to make.  I can post for an assistant manager position that I see become available (a lot of displaced office managers will probably be doing the same thing), I can go a different career path (get licensed and sell investments and annuities or work in another non-customer facing division of our bank like proof), or I can look at getting a new job at a new bank or even in a new field.

Honestly, I am pretty discouraged.  I hate that I can’t keep doing the same job I am doing.  Basically I am going to get demoted (and who knows about the pay) and be forced to do something else.  I’m trying to look at it like this is my opportunity to shine, maybe I’ll get a really sweet job I’ll love, etc.  I just don’t know at this point.  I’m taking it better than I thought I would.  I guess that I’m honestly relieved that we have an emergency fund, have paid off some debt, and can live on a smaller amount of money than we could six months ago.  That makes me happy.

I’ll be sure to update the status of my job, and if you’ll send me positive vibes, I’d appreciate it.  I’m looking forward to my next, new exciting job!

How is the stability of your job currently?

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7 Responses to “My Position is Being Eliminated”


  1. Deirdre says:

    I’m so sorry to hear that. At least you’re in a better position than many other people! Maybe this would be the time to explore your idea of going into healthcare??

    I’m a freelance writer, so my work is constantly unstable…

    [Reply]

  2. Kacie says:

    CRAP! Jerks.

    Ok, first, you will be fine.

    Second, give yourself a little bit of time to process it. You don’t have to act on your next move immediately. Only you will know how much time you’ll need.

    Maybe you will end up in an even better position after all the dust settles!

    [Reply]

  3. Miss M says:

    Oh no, it looked like you would be safe :( I’m so sorry, it’s never easy to adjust to change when that change is someone else’s doing! I really hope that this is a new opportunity for something better. Start looking what else is out there, maybe this is the time to change career paths. Lots of luck!

    [Reply]

  4. frugalchick says:

    Sorry to hear about your position being eliminated and I’m sending you lots and lots of positive vibes. Looks like you have a lot of thinking to do and I wish the best of luck in whatever you decide.

    [Reply]

  5. Frugal Babe says:

    What a huge bummer! I so hope that this turns out to be a good thing for you. My husband got a transfer that he didn’t like (it was basically a demotion) at the job we both worked at back in 2002. He quit instead, and started the business we have now. I quit and joined him in 2003. It was tough in the beginning, since we had so much less money. But several years down the road we’re SO much happier than we ever were at that job, and actually make more money now than we did then. I wish you all the best, and hope this turns out to be a great opportunity for you.

    [Reply]

  6. Mrs Money says:

    @ Deirdre- I went through feeling horrible to feeling okay with it. I know there is a reason it’s happening, so I’m going to hope for the best. Change can be good.

    @ Kacie- Thank you for the reassurance :) I’m thinking that I’ll take either a teller supervisor or teller position. I’ve been very stressed the past few years and I’m tired of it. The amount of money is not worth it to me. I feel like I’m stupid for saying that, but we can make it on a lower salary for me now.

    @ Miss M- That’s exactly it! I don’t like that it’s someone else making the decisions. I want the ball to be in my court. I feel that I shouldn’t look into any other careers because the economy is so bad and the jobs just aren’t out there. I’m sure I will come up with something!

    @ frugalchick- Thank you! That makes me feel better. :)

    @ Frugal Babe- That is very inspiring. I know that I will make it through this change. I’m hoping something fantastic happens as a result of it!

    [Reply]


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