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TD Banknorth – “Uncertain of the future

Aug 7, 2009

3.0

TD Banknorth "Store" Manager:   (Current Employee)

Pros

Fair compensation, challenging work environment

Cons

The recent acquisition of Commerce Bank has created constant change in operational procedures which place more responsibilities back on the stores (yes, we are now called "stores") making it difficult to focus on sales and customer service. And performance reviews are based strictly on numbers generated from sales and the results of customer satisfaction surveys. Our product offerings have changed leaving us less competitive in our market area.
We have been forced to adopt the "brand" cookie cutter philosophy of Commerce, where everything is expected to look the same at every location. I now have an assigned place for my stapler. We have been required to remove everything from our counter tops and desks resulting in printers, fax machines, and frequently used items being placed in extremely inconvenient locations. It is an ergonomic nightmare for our locations in Maine.
Changing job levels and job descriptions do not reflect much value for lower level employees.
Our team philosophy of the past is being replaced by the cult like philosophy of Commerce. Those willing to dedicate themselves completely to the company and cheer the loudest at the pep rallies may stand a chance at advancement while all others will be considered dispensible.
I fear we will become the Walmart of banks.

Advice to Senior Management

Drop the cookie cutter philosophy. As another reviewer mentioned, what works in Florida may not work in Maine. Value all employees since they truly are your most valuable asset. Invest in them and you will prosper.

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TD Banknorth Overview
Web
www.tdbanknorth.com
Size
5000+ Employees, $2B+ Revenue
HQ
Portland, ME
Competitors

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