Thread regarding Resideo Technologies layoffs

Pay to make lawsuits go away

Well looks like Resideo is in discussion to make the 18 lawsuits go away by paying them a settlement to cover the loses of the people part of the lawsuit. All those that participate should receive some money if they agree. Otherwise if you’re not part of the lawsuit you get nothing.
Some pay day is coming... Resideo would rather pay than stay in the news and get screwed for even more billions...you could potentially get a payday too if you join ASAP
Yeah and meanwhile the promo and large payout to specific employees continue... they are just discreet about it but many id–ts can’t hide that on their LinkedIn so you can get them through that...

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Post ID: @OP+12QGe8kW

12 replies (most recent on top)

Heard the CPO was gone before 2020 started

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Post ID: @4lfp+12QGe8kW

Btw if you’re part of a lawsuit and resi tries to lay or fire you with “creative” accounting of your work that’s retaliation.... so they would end up paying more to lay you off... unless you sign something stupid with HR that you won’t sue them in this case you loose ...

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Post ID: @3uox+12QGe8kW

2kbj Or troll or austin director....
Losses cover only market fluctuations.
the more than 50% drop is not normal fluctuation it is based on mismanagement creative accounting, lying about capabilities that clearly don’t exists and promises that will never materialize like all the products since the past 2 years.... you can’t deliver products you should say so and not try to scam investors... because “creativity” is scamming and that’s why you have lawsuits
And there is a pension fund already and more coming ....
Ohh yeah and now we can’t even do something with DAStmo, and well have to redo WLD because the architecture was wrong to begin with... and in typical resi fashion we will lie about it, reuse the same thing but change the box shape or color and call it a new products lol... How about your financials at home and pension follows the same rules than resi?

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Post ID: @2ssa+12QGe8kW

2kbj - because the company lied about the financial health and overall health of the company and lied about its future prospects.

1) why did CFO leave - creative accounting.
2) why did CEO get forced out - creative accounting
3) why did CTO leave (hostile environment, abuse of employees) and lied about pipeline and release dates of products which impacts tock price. THis contoionues with new staff....no new products anytime soon and none are innovative.
4) many months of putting a good spin on financials than reality such as pulling sales in from future quarters.
5) Lying to customers about products and release dates and hiding the fact customers are leeing for competitors.
6) lied about M&As and its costing 5 times the amount to "buy not build"

Its called securities fraud and it is a crime.

Thats why.

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Post ID: @2jko+12QGe8kW

2kbj-
If you spent a half second to understand trading, the legal claims are looking for a lead plaintiff in the proposed class action. This would be a large investor, say a pension fund for example, who bought Resideo based on the projections shared by the company. The suits are alleging the information may have been misleading with intent. We're not talking losses of $3 to $8 USD. It's millions.

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Post ID: @2muy+12QGe8kW

Can I open a law suit with company X Y and Z? Investing in the market assumes risk. Why are these investors so special that they believe they are owed loses? Resideo is as "evil" as the next corporate entity. Like our President's "impeachment", these lawsuits are BS.

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Post ID: @2kbj+12QGe8kW

Yes, like previous poster mentioned, get in the lawsuits otherwise you get nothing And are out of a job
There will not be massive lay-off, more like little batches over a period of months continuously like said before. It started a month ago and it’s done so people again become complacent that they are “safe” they are not

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Post ID: @2cxq+12QGe8kW

2min - I signed up a while ago. Everyone should keep in mind the last day to sign up is tomorrow so if you haven't, do so fast. The ship is quickly sinking and they are running our of BS to spread to make things look better than they are. 2min is right you have nothing to lose and you may as well get what you have earned back from this company before being laid off.

The plan is to have the next round of layoffs be continual and in little batches here and there to go under the radar and not report or have the layoff show up in the news. This starts VERY soon and will be part of the "reorg" being finalized this week in Austin. It wont be a "layoff" it will be a reorg. Call it what you will...its a massive layoff.

I would also take the advice of previous poster. Record every conversation but let them know you are. Document a complaint that you will submit at the layoff meeting prior to signing anything. Have as much detail and proof/data/witnesses etc as you can. Get a labor lawyer if possible. Many will only carge if they win and yes, use the lawsuit as part of your complaint as well and the fact they investigated and fired upper mgmt such as MN and ET. And most importantly, don't fall for the HR intimidation tactic...they count on this. Most HR is incompetent know / do nothings that bring little to no value. Ours are even worse than most.

Good luck to everyone.

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Post ID: @2pdk+12QGe8kW

I signed up to for the lawsuits got nothing to loose, and through those lawsuits if they lay me off I can showcase the hostile management from many of those directors wannabe

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Post ID: @2min+12QGe8kW

gpt
You’re right that signee is another “build your resume” we can’t deliver anything on time and can’t design or develop software... but for select individuals it’s a way to get their next job.
Notice who reposted those on LinkedIn and you know who moves air but can’t get anything done for real

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Post ID: @ziq+12QGe8kW

I joined all of them a while ago so would advise all employees to join as well. You have nothing to lose since this company is headed for extreme downsizing best case and more than likely chapter 11 or out of business. May as well get what you can.

The funny thing is they are losing customers and sales in a big way and revenues and sales are dropping big time so a huge payout will impact the bottom line and probably make this companies demise that much faster....but they will stay out of the news. lol.

On the upside we are on the Zigbee advisory committee. We cant create a products that register, stays up and available or that's innovative but we are on the committee. I guess in the name of diversity they needed the handicapped on that advisory board and we fill that role....we are the company that represents the learning disabled. lol

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Post ID: @gpt+12QGe8kW

Yeah I signed up last week.
The promo must be about the top slacker Michael Jordan (that Honeywell was going to fire for no delivery.) soon BB gun will again work for him like at Honeywell and learn from him how to do architecture. Just when you thought mismanagement has reached a bottom.. you find there is an even deeper bottom

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Post ID: @ups+12QGe8kW

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