ML POA/PMD Rolling Back 3mos
Just announced today that current POA/PMD trainees will be granted a 3-month rollback unless currently on probation, etc.
"Please be advised that as of July month end, the firm has decided to roll back our POA/PMD population 3 months due to market conditions. This is being done to provide you with more time to build your business and successfully graduate from the program. The actual rollback will take place the first week of August and will be viewable on the POA/PMD Performance reports August 10th.
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Please note that if you are already on probation or have received written warning for failure to meet business targets, this rollback does not guarantee employment for an additional 3 months. All program participants remain at-will employees of the firm, and are not guaranteed employment for any fixed period of time, but this rollback is designed to allow you a greater opportunity to meet program goals."
Better late than never. I think that it's being done since they are officially hiring PMDs again as of 7/1/09 nationally. I don't need it right now but it's a nice buffer.
Genius. Nothing happens when the market goes from 14,000 to 6,500 and Merrill is bought out, but now they decide to throw a temporary lifeline.
A life line to the few that are dumb enough to stick around that crap hole!Any rep with any brains already left!
It sounds like more of a PR thing than anything else. When I left, the only ones in the region still surviving were already pulled onto a team. 3 months in this market is not going to make up for a year and a half of your book getting hammered. Nice gesture, but they should have done it a long time ago.
[quote=Greenbacks]A life line to the few that are dumb enough to stick around that crap hole!Any rep with any brains already left! [/quote]
Wouldn't crap hole be a more appropriate term to describe the basement you work out of?