Thread regarding Ametek Inc. layoffs

The Ametek Way: Acquisitions, Layoffs, Paycuts, Lowballs

OK, after 10 years at Ametek let me let you how I perceive things. First, there are no layoffs right now – but, the company is big and you never know if there is a pocket that is cutting expenses right now. You’ll notice that…

Ametek is all about keeping the operating expenses as low as possible – that will include cutting human resources when needed. Also, if you expect them to pay you well that is not going to happen. They always lowball, so make sure you negotiate your incoming wage well – you will not be getting many increases.

So, you will work proabably 40 hours a week unless you are a manager, they can work less. Also, we acquire a lot so if you are acquired you will be trimmed down, let’s say 10% of your headcount will be let go.

There may be pay cuts, there may be other things that will help the company make better profits, they will not help you. So, nice! Paycuts & Layoffs…

Also, it’s super political – you will not be able to avoid that at Ametek – you will be playing politics. Your manager will be playing politics. Everyone has an agenda, and all agendas are hidden. So you need to figure out the game on your own, people will not help you navigate this.

Finally, on the development side you will suffer – Amtetek buys companies and we buy designs and IP and all other stuff needed. We do not develop things. So, if you are hoping that there will be creative work – think twice. You will not be doing it.

Finally, underline this: Ametek does not pay the market price for wages, they lowball and pay under!

This is only my experience so take it with a grain of salt. After 10 years here I feel I can tell you how it is. Godspeed!

| 5085 views | | 3 replies (last April 24, 2020)
Post ID: @OP+11TeAH1i

3 replies (most recent on top)

After 4 years,i gave notice,they then offered me
$20/HOUR,then 4 years later let me go,saying workforce reduction.1st.time i lost a job at a low benefit place!

Post ID: @2Kmcz+11TeAH1i

I can tell you this is the same story for many of the acquisitions in the last 3 years. Over paid, do not invest, do not add headcount support to grow, and squeeze every place until they start to cut muscle. What I fully expect in the next 12 months...massive impairment write downs on their goodwill. Given the nature of most of these acquisitions, the known lack of investment and the massive cost cutting, there is no way for them to maintain the values of these acquisitions on the books. Plus with the coronavirus impacts, they will see massive revenue declines which means more cuts in headcount, it’s their only lever, but it won’t be enough. Their model is flawed and the stock will tank. Time for a management and board shake up. This company is ripe for an activist to break it up and sell off the pieces. When I looked at the proxy statement this year and looked at executive comp and one of the metrics for organic growth, only 1 of the 3 named presidents earned any comp for organic growth. That’s a telling sign that the businesses they own are garbage and all growth over the last several years has been via acquisition. Good luck continuing that when your underlying businesses are imploding.

Post ID: @2qhdm+11TeAH1i

Jan 3, 2020 - They're in the process of decimating Spectro Scientific (Chelmsford, MA) right now. Merry Christmas; 30-40 people gone in the last few months, including VP's and a lot of finance, marketing, operations, and engineering staff. More layoffs in the queue. Trouble is - AMETEK was outsmarted big time on this one by a bunch of holding company sharks led by a sinister ex-CEO, overpaid on the acquisition by like 3:1 and now are very angry at the lack of profitability and no real cash reserves. After being in for 12 months, AMETEK will probably take what they can grab and fold it up. Spectro's IP is all 20-30 years old with many undeveloped half-baked products, and soaring support costs - so even a corporate IP/cash raid is not feasible. Bad times ahead for Spectro Scientific and it's dwindling workforce.

Post ID: @Wcdm+11TeAH1i

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