A shocking revelation has emerged from the banking world, leaving many employees stunned. Jenius Bank, the digital banking arm of Sumitomo Mitsui Banking Corp. (SMBC), is reportedly shutting down, according to multiple sources. But the plot thickens—the bank has yet to confirm this news, leaving employees and the public in a state of uncertainty.
In a series of LinkedIn posts on Thursday and Friday, former Jenius employees revealed their sudden availability for new opportunities. They hinted at a significant development, with some mentioning 'tough' news from within the bank. Adding to the mystery, Jenius' X account and LinkedIn page were abruptly deleted, erasing all traces of its online presence.
Here's where it gets intriguing: Two ex-employees confirmed the layoffs and shared that Takeshi Okamoto, the chair and CEO of Jenius' parent entity, SMBC Manubank, delivered the news during a brief virtual meeting. In this meeting, employees were informed of an email that would seal their fate—sent to personal accounts if laid off, or work emails if part of the transition team.
The story takes a dramatic turn as employees describe being abruptly locked out of their work systems. One employee, speaking anonymously, was in a team meeting discussing next steps when she suddenly lost access to Microsoft Teams and Outlook. Another employee shared a similar experience, losing access to work programs just minutes after the all-hands meeting concluded.
Okamoto cited 'market performance' as a reason for the closure, explaining that the digital bank struggled to turn a profit, falling short of its parent company's expectations. This revelation raises questions about the bank's strategy and internal culture.
An employee's candid comment sheds light on the situation: 'Over promise, under deliver' seemed to be the norm at Jenius. Despite the hard work of many, the bank consistently fell short of its goals. This sentiment was echoed by another employee who felt deceived, having been lured from a stable job with promises of growth and innovation, only to face sudden unemployment months later.
But here's a twist: An external customer service rep contradicted these claims, stating that the bank was not closing. This conflicting information leaves us with a puzzle. Is this a case of miscommunication, or is there more to the story?
As of now, Jenius Bank has not publicly addressed these closure rumors, leaving employees and the public in a state of limbo. What do you think is the reason behind this silence? Could there be a strategic move in the works, or is this the end of the road for Jenius?
