Rumor is there will be some directors who have been notified and will be off payroll end of year
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@12A5DBvi-wexm wow.Lets all start a fund for the directors. Such mistreatment
FYI, Directors don't get golden parachutes. What they get is deferred compensation when riffed.
When someone starts as a directors, they don't see their bigger bonuses until the 4th year. The company holds on to it to encourage retention. So if someone quits or is fired, they lose those deferred payments.
If on the other hand a Director (and above) is riffed, they get that compensation. They've earned it, but it's not paid unless they are riffed, or it comes due after the typical 3 year delay.
old timers are not going anywhere. Ones that are going to be impacted are recent hires <5yrs
Who got cut?
The 20% cut will be in wireless office and field staff, not retail stores. To many redundant business and retail channel oversight positions, people getting credit for same sales, redundant uncessary overhead. And, indirect channel is no longer needed. There are plenty of resellers that need the business in their stores and not at Best Buy or Costco a mile away. Oh, did we forget purchasing online directly is better for the firm. It's not the 1990's, old style field sales management is dead as a door nail Mr. Scrouge!
Though, I don’t know what’s particularly dead about a door nail.
are there anyone from IT?
Directors compensation package is roughly 300k a year, Plus add another 80k into LTI which they also get each year for another 5 years. My friends whom was a Director started out in customer service in the business office. He said his hardest task was to fight boredom as a Director
I did not want to believe this but as I read announcements of retirement at the end of 2019 on LinkedIn I think some truth exists in this post.
To the person saying a 20% cut you realize like 40% of the rep headcount had quietly been cut over the past year right?
wireless retail ops
Any specific locations?
Anyone knows which directors?
After Directors are gone, a 20 percent wireless employee cut in Q1 to bring costs in line with 2.0 reduction requirement.
This happened weeks ago
Directors get golden parachutes
Merry Christmas
Pack up