Hold on to your hats, it is coming again shortly. Polish up your people skills and resume. Time for the quarterly layoffs at Intrado/West. Good Luck everyone.
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ahh yes, another culling
At least 2 in West Point GA
Confirmed 4 in the Mobile office, 1 PM, 2 other salaried, 1 contractor
I heard some folks in the Mobile office got let go today.
What location can you confirm there were cuts?
Hearing the same and can confirm a few people shown the door today at my location. Was told it was part of a restructure.
Catching chatter of some activity today in AL, CA, MN, and WI. Unsure if all is RIF related or if this includes normal terms, but some definitely appears to be part of a reduction.
I was told we could roll over upto 160 hrs of PTO and it would automatically roll into vacation time after the last email that came from Benefit Announcements. Now they don’t know if they will honor that! Since I was told I could roll it over I didn’t use all my PTO hours!! They are going to have a large handful of employees who will be mad come Dec and they don’t honor it!
It's Apollo's style of running companies.
Motivate the employees hunger games style.
Yes, the long term reason for changing the PTO policy is the balance sheet. But if they have intent of significant further layoffs, do not think they don't know exactly what the PTO payout would be of those they want to layoff. They also will know exactly the cost of paying salaries through the end of the year + PTO pay out vs waiting after the new year and then not having to pay out that PTO. They will do more layoffs whenever the best time is financially for themselves. That and staggering the numbers laid off so as to eliminate state reporting requirements.
Is there a hiring freeze?
Was laid off last summer by West. Possibly one of the best things that ever happened to me.
From an accounting standpoint unused employee PTO is considered a liability, while sick leave is not considered debt because it doesn't have to be paid out when an employee quits or is let go. By implementing this change Apollo was able to make the balance sheet look better. That's the real reason for the change.
I suspect, with the relatively new PTO policy change where everyone's remaining PTO at the end of the year being dumped into "sick leave" bucket, creating a near zero PTO liability at the beginning of the year that they are positioning the company to have a significant RIF first quarter. Just looks that way, time will tell.
They already do layoffs all the time. Just not quarterly layoffs. I'm not sure what part of that is difficult to understand. If you worked there you would know this.
It’s coming and with more frequency bc that’s what PE does. It’s only going to get more brutal from here. You think it’s bad now- it’s a cake walk compared to what’s on the horizon.
Quarterly? Whoever wrote this, it's complete BS. They do layoffs whenever they decide to do them. Nothing to do with quarterly.
Winning behaviours, winning layoffs, and winning c-level staff
So much winning
Uh, yes they do.
These guys have done a lot of layoffs but they don't do regular monthly, quarterly or yearly layoffs genius.