He expects a cut, notes that it will be sizable but 'reasonable' (whatever that means). When I pressed with numbers did not want to share anything. I said 20K, he said unlikely, I said 10K he said maybe. Take it for what it's worth. I typically trust him as he's a good person and we have a close relationship (long story) but wanted to share that.
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hi @OP
I call your bluff
@p6 or maybe OP is full of sh-t. ;)
@ac “Candid and courageous conversations” 😀
@ed pipe down Johny Justice
Well they didn’t offer the VSP last time….so I’d wager to guess this will be quite large.
Did you share with him you were gonna post that here? If not you gave yourself away. What a slimy thing to do to someone you supposedly have a close connection with. All so you can be “the one in the know with the tea”
Those projections were based on the same expectations they were raving about in Q1 thinking we were good. Business expectations have changed and will continue to with the impacts of current administrations policies. We are all seeing how they have been affecting members - limiting benefits and outside resources. Expect to see the same. If you are listening we are one of thousands of companies laying off huge numbers of people due you corporate greed and current policy. Honestly the writing on the wall is scarier than anyone wants to admit.
@ac it's accurate that the budget states a specific amount for severance. However what is budgeted and what the end of year actual is different.
All they need to so is make a statement after the fact in the earning call that there is or was an adjustment.
Also it's how they line item "severance" I'd wager that if you dug into the financials that number is for Involuntary severance, and voluntary is called something else.
There is no way this is an actual conversation anyone should base their decisions on. All levels of leadership are under the strict guidance from both HR and Legal to not discuss in any way this topic. Even IF they are fully read into the situation, that conversation would have no more weight than a google search.
VP title in this org is given out as a favor, it's like banking everyone is a VP
@aq The only similar situation I can think of is GM VSP offer in 2023, where 5000, or almost 10% of employees that got the offer took it.
https://www.cnbc.com/2023/04/05/what-to-know-before-taking-an-employee-buyout.html
I have a feeling it’ll be 6k-9k and it won’t be all at once. I keep seeing comments about how they set aside $24M for severance. things change.
they’re not going to offer company wide buyouts to cut 1,000 people. think of those roles that were identified as not needed based on whatever strategic direction they’re on, if those people don’t apply for the VSP, I don’t think the organization will keep them because other people volunteered to leave.
they will cut them. it frees up the budget to make other strategic decisions.
@OP They set aside $24 million for severance. Let's say the average offer is $20k (some are way more, some way less). That's 1200 people. I don't know if that's VSP only or if it's also for involuntary cuts as well. They're not going to tell us and there's just no way to figure it. That's a candid conversation that they don't have the courage to have.