My Employer, Silicon Valley Bank, Collapsed Overnight – Now What?
A week ago, everything fell apart for Silicon Valley Bank (SVB) – the 16th largest bank in the US, and my employer for two and a half year. I was busy planning our team offsite a week ago. Now we are in a whole new reality for all 8500 employees – the threat of permanent extinction.
- I had to cancel the team offsite of course.
- SVB no longer exists and the parent company filed for bankruptcy
- Our office locations are all closed ‘temporarily’ but may actually be permanent. who knows?
- We are now employed by the bridge bank SVBB, Silicon Valley Bridge Bank, with a new CEO and we have been working like mad helping our clients access their money.
- We are faced with 3 options that are from okay to ugly – stay independent as a much smaller bank, get acquired by a big players, or close our doors forever.
Only time can tell what will happen next! ...