The autonomy allowed creates a disfunctional alignment between business groups and internal departments. There are few requirements in place to organize standard internal processes. However, the IT structure, which is supported by a 3rd party vendor, is highly regimented and makes changes and communications with IT providers difficult.
Rounds of layoffs are being driven by the current financial declines - true of all financial service organizations.
While Senior Mgmt. has strong vision, that vision is not often followed through in operations.
