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Payroll Math and why we are at the end

OK, here is the money crunch. There was ~$479,000,000 in cash or equivalents on the books on 9/30/25.

Great! (not really)

There are also 27,000 people on payroll. Divide the numbers and you get $17,740 per person. Great? No, not really.

Some people make a lot, some make terrible money. If the mean salary is $50,000/year and you divide that into $17,740, you get 35.4% of a year - or about 90 days of payroll.

Money is coming in still but this, and overhead, the cost of goods, and most importantly, the debt load, is too much to survive. The only way they can survive is to borrow money and they can't. It's too late to fire their way out of this, hence the lack of trying.

There are two smaller debt payments (both around $100 mil) due this year. Either one could end the ballgame.


RemainCo Town Hall

Here is what I heard from today`s Town Hall:

  • EBIDTA is at a great level (90% of the employees doesn`t care, or have no idea what that is.)
  • We should be very happy for the shareholders, as they will receive a min. 10$ divident / share.
  • How nice that the colour of the 2 logos are matching.
    No mention of the employees, when will they advise on leadership, new responsibilities, or just acknowledging the frustration we have. At least they should say they are working on it and will be shared soon, or giving some justification for the hold up.

December Layoffs - Anything from HR

I was impacted by one of the BS pittsburgh layoffs on December 16th. I was told that I would remain an employee through end of December and would then receive an agreement from HR to sign in order to get an extra 60 days pay.

As of 1/13, I still haven't received a box to return my computer and received nothing from HR. According to Voya, I'm still showing as an active employee and can't access any of my retirement funds until I'm terminated. Curious if anyone else laid off in December received their separation items yet. Also curious if anyone would be willing to share contact info for HR. My boss couldn't be bothered to provide me with that basic info when he fired me.


Earnings “Watch party”

The tone deafness is staggering. Come one, come all, even though 1 in 4 of you are on borrowed time. But no worries, you can retire on your 10 shares of Burger King stock. Come and hear our overlords drone on about P-M, AI, the analysts who will be running the company as we kick you to the curb.


Is colocation back?

Wealth and brokerage have been struggling with their strategy for better part of last 2 years.

Every couple months there's an org update email followed by period of radio silence and generic "We will get through this together" bs during AAM

Recent colocation posts have reignited the debate on how the new HR wants to proceed.

My takeaway is, if you're a executive CIO reading this post, what pleasure do you get in associates going through stress, anxiety throughout the year???

Why can't you let someone be who just wants to keep their head down and work?????


Layoffs can be painful but:

I hate to see these layoffs but I recall the high flying days of 2002 - 2006. The stock price was >500 (adjusted for reverse stock split). Shareholders were hosed for years due to mismanagement at C. Jane is, I believe, doing what is necessary to right the ship. And it seems to be working. There are so many disgruntled employees at C that I am surprised that there aren't many more layoffs. Wish the best to all.


RJ Corman president Matt Igoe

The number 2 man under K F was just made president and chief officer of the number 1 short line in the nation that has been taking over BNSF locations, and that is how you take over a class 1 from the inside and get rid of employees at the same time, all the corporate secrets and behind the scenes negotiating to cut employees, and operate under the guise of making a business more profitable was just a means to put the number 2 guy at BNSF in charge of the short line rail responsible for shutting down and scabbing out the most BNSF terminals and mechanical facilities nationwide. Hostile takeover over of BNSF on the horizon to be scabbed out and sold to short line.


Bonus 5% Mandatory Shares

For anyone not aware, it is mandatory that 5% of your bonus will be awarded in shares. Team members will only get told during their meeting. You get a minimum of 2 shares if you can't afford more.

Can anyone explain how this is calculated? E.g. if 5% of your bonus is taken for shares, but that is only enough for say 2.5 shares, how does it work? (What happens to the residual?)


RIFed employees - how are you holding up?

It’s the second “working” Monday morning of the year. The first week back from the holidays is just over, and now reality sets in. How are you doing?
I have about 10 applications to other companies in a “submitted” status. I had one interview in December that I thought went very well but I haven’t heard back from yet. I am grateful to have the time with my family, but this morning I’m feeling dejected. Yes, picking myself up by my bootstraps, but looking for some candor here. Working here for 23 years, it’s like I imagine a divorce to be, feelings are up and down. I even miss the commute. Probably the routine, really.
How about you?


Newer hires: total letdown?

Many have commented on the change in culture and how the company has changed for the worse. Does a lot of this have to do with the newer hires over the past few years?

The company has hired a lot of new people and to be fair some have been good. However in many cases it looks like the company’s hired a lot of mediocre employees. It feels like the company used to hire the best of the best. Recently it feels like the scraps are getting picked up.

What does everyone think?


Hey Iselin!

It’s two hours in the focus rooms. Two hours you arrogant, inconsiderate, selfish workers. Yes there are a multitude of you who just think you own a focus room. Sorry you’re not that important because if you were you would be in Hudson Yards.


waiting for the axe

soooo what is happening in other districts with DEG technicians and I and R techs!??? we have one job per day if we are lucky, DEG techs are same very slow just taking down old equipment!
Don't get me started on useless air pressure ho-s, all they do all day is sit around in different COs waiting for lunch to see where the specials are!
Lots of us waiting for payout but is anything happening in district 3,9,6?


RTO is a sh-tshow

And it's by design. I almost have the feeling that they enjoy making us jump through hoops, throwing all kinds of obstacles and inconveniences at us just for the heck of it. Productivity and performance be damned. Losing top performers, because they do have a choice? Not important. As long as we are exposed to humiliating rituals and games, all is good.


Handling a lack of support

My manager sided with a rude customer today, even though he knew I followed all the correct procedures. He then expected me to just forget the whole interaction happened. It is incredibly discouraging and makes the job feel impossible. I am considering how to document this pattern for a discussion with HR next week. Has anyone dealt with a similar failure of leadership?


How do bonus payouts work for layoffs in January

If you get laid off March through Dec, AFTER they paid you the bonus for the year before, HR will pay you a prorated amount of the bonus for the CURRENT year.

But people laid off in January or Februray, if your last working day is before the cutoff date (the date you have to be employed by to get your bonus for 2025), what happens then? Technically you are no longer employed at usb on 2/27/26 the cut off date.

DO they

  1. give you 100% of your target bonus from 2025 only (since there's nothing to prorate since 2025 is over)
  2. give you NOTHING for the whole year from 2025 and a small prorated bonus for 2026
  3. both of the above 1 and 2 combined

Ideally #3, but #1 would be ok also. But it better not be #2 because they would be f*d up.

If you think about it, if they lay you off in January and fk you over, you would have been paid more** if you were laid off late last year instead of early this year.

Anyone with an actual answer, not speculation peanut gallery, please reply. Thanks!


34 quarter's of failure

After 34 quarters and 8 years of decline they wonder why customers leave.

You dont pay anyone for 8 years, but you expect to deliver AI.

These leaders are so out-of touch its unreal.

It doesnt take an id--t to work out why morale is low and the company is failing every qtr.

You need to change your focus to Employee pay to get the best out of your main asset.


Star rewards changing for employees ?

Retire here
Can some one tell me if employees / retirees are no longer eligible for Star reward status ? I spent over the amount in 2025 to be platinum but I just noticed on my statement it says I need to spend 1200 more to maintain my status after 2/28/2026 . Did they change how it works for employees ? Or just the calendar of purchases made to move up a status ? I’m so confused ! As retirees we don’t get any information about changes or extra discount have to rely on here to get that info ! Thank u in advance!


Anyone get an email for a task to complete " Review Distribution of documents or Tasks" Titled Auto Expectation Document-Annual

Anyone get an email for a task to complete " Review Distribution of documents or Tasks" Titled Auto Expectation Document-Annual only to see if was canceled in WD.

Well it was seen prior to it being canceled. It's a zero tolerance policy with no exceptions. No reason to let you go. So here we go folks. Hold on the rides about to get bumpy as he-l....


Pay range for levels have decreased according to current open positions

I noticed when looking at open jobs internally that the pay range for the level where I'm at is lower than what it was last year. These are positions in my current geographic location. My current salary is above the max for my level where last year it was slightly above midpoint. Has anyone noticed this? How are they going to approach salary increases?


This could have come straight from McElfresh

https://x.com/gothburz/status/2009386221521244406?s=46&t=8PYOIs_oDhf5yp9H30hhiw

Last September I announced mandatory return-to-office.

Five days a week.

I called it a "culture-first initiative."

Culture means presence.

Presence means badge swipes.

Badge swipes mean metrics.

Metrics mean I can prove something to the board.

I don't know what.

But I can prove it.

The announcement went out on a Tuesday.

I sent it from my home office.

In Aspen.

I have an exemption.

"Strategic leaders require location flexibility to maintain global perspective."

I wrote that policy.

HR approved it.

HR approves everything I write.

By Wednesday, 340 employees had updated their LinkedIn status to "Open to Work."

I called it "natural attrition."

Natural attrition means they quit before I had to pay severance.

Very natural.

We lost 47 engineers in the first month.

I told the board it was "alignment correction."

The people who left weren't aligned.

With coming to an office.

That I also don't come to.

But that's different.

I'm strategic.

The office costs $4.2 million per year.

Empty, it was a write-off.

Now it's a "collaboration hub."

I measured collaboration.

Average daily Zoom calls from the office: 7.4 per employee.

They commute 45 minutes.

To take calls they could take from home.

But now they're "present."

Presence is culture.

I've never been more certain of anything.

A senior engineer asked why we couldn't stay remote.

She had metrics.

Productivity was up 23% during remote work.

I said, "Productivity isn't everything."

She asked what else mattered.

I said, "Serendipitous collisions."

She asked how we measure serendipitous collisions.

I said, "You can't. That's what makes them serendipitous."

She stopped asking questions.

Then she stopped showing up.

Then LinkedIn said she's at a company that's "remote-first."

Good luck with that.

They'll learn.

We installed badge tracking software.

It cost $380,000.

It tells me exactly when people arrive.

And when they leave.

And how long they spend in each zone.

I check it every morning.

From home.

The data is fascinating.

Average arrival time: 9:47 AM.

Average departure time: 4:12 PM.

I sent a Slack message.

"Core hours are 9 to 6."

Arrival times shifted to 9:02 AM.

Departure times shifted to 6:01 PM.

Productivity did not change.

But the metrics look better.

Metrics are culture.

We have a "hybrid" option now.

Three days in office.

Mandatory Monday. Mandatory Wednesday. Mandatory Friday.

That's called "hybrid."

Because Tuesday and Thursday are optional.

But there are "anchor meetings" on Tuesday and Thursday.

Attendance is "strongly encouraged."

"Strongly encouraged" means mandatory without the liability.

I learned that from legal.

The head of product asked if he could work from home when his wife had surgery.

I said, "Of course. Family comes first."

Then I said, "But let's revisit your Q4 performance targets."

He came to the office.

His wife understood.

I assume.

I didn't ask.

That's personal.

The CFO asked about ROI on the RTO policy.

I showed him the badge data.

"Presence is up 340%."

He asked if revenue was up.

I said, "Revenue is a lagging indicator."

He asked what the leading indicator was.

I said, "Badge swipes."

He nodded.

The lease renews next year.

Seven more years.

$29 million committed.

We needed bodies in the building.

Now we have bodies.

Fewer than before.

But present.

Morale is down.

Glassdoor says we're "hostile to work-life balance."

I told HR to respond.

They wrote, "We're a high-performance culture that values in-person collaboration."

That's corporate for "the review is accurate."

But it sounds like a rebuttal.

The CEO asked if RTO was working.

I said, "Absolutely."

He asked for evidence.

I showed him a photo of the office.

Full desks. Glowing monitors. Bodies in chairs.

He smiled.

"This is what culture looks like."

It looked like a stock photo.

Because I got it from a stock photo website.

The real office has 40% occupancy on a good day.

But he doesn't know that.

He's also remote.

We're both strategic.

Next quarter I'm proposing a "collaboration bonus."

$2,000 for anyone with 95% badge-in compliance.

The bonus costs less than the turnover.

And it shifts the narrative.

We're not forcing people to come in.

We're "incentivizing presence."

Incentivizing means paying people to do something they don't want to do.

It's different from mandating.

Legally.

The employees who stayed are "loyal."

Loyalty means they have mortgages.

And kids in school districts.

And RSUs that haven't vested.

They're not loyal.

They're trapped.

But on paper, it looks like loyalty.

And paper is what the board sees.

I've been doing this for 22 years.

I know what culture looks like.

It looks like butts in seats.

Butts in seats mean control.

Control means management.

Management means me.

RTO isn't about productivity.

It never was.

It's about seeing people.

So I know they exist.

So I know they're working.

So I know I'm in charge.

That's culture.

As long as the badge swipes go up and to the right.