Several coworkers laid off late Friday afternoon. Supposedly it was a 5% cut across the board.
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Barring legal action that pushes cndt into bankruptcy, there are many years left yet- even if ceo cannot turn it around. do you think he is empowered and capable to fix it, or is he just shepherding through a series of sell-offs? Rifs will continue, they happen everywhere. Two plus years of no real plan to grow put cndt in a bad place. it will be hard to attract new hires with sub par benefits and wages. without new blood, the continued RIFs will eat away at segment viability. Heard management talking about additional Rifs before end of month. Prop up stock?
I was cut in this last layoffs. I'm 60.
This company wont last. Time to leave the sinking ship. They have a corporate raider on their board, you know they will collapse eventually.
By the way... This happened ONE day after Mr. Skelton said that the company would
eliminate the culture of fear (fear of arbitrary across the board RIF's)
So now that those who were in fear of RIF's have been RIF'd they no longer
have to fear it because their fear was correct and now they are gone.
Another wave coming in a couple of weeks, the goals for Q4 are not even close, projects will be cancel, accounts closed, all contractors will be let go and all hiring is freeze until Q1 / Q2 2020... really hard times ahead, this is just the beginning..
What positions and locations were affected? Age group affected?