Thread regarding Union Pacific Corp. layoffs

Very sad

Yesterday Lance Fritz sat at the Town Hall. He was laughing and smiling. He looked like a kid at Christmas. Later the article in the WSJ announced 3000 job cuts.

I've never seen anything like it in my life.
Most depts are under staffed. No one can get anything done due to all the cuts. Instead of investing in their employees and moving people who have 10+ years of experience to other positions and training them for other types of work, they wipe out their employees.

I'm not sure how he has the ability to smile and look at the camera. 3000 employees will be hurting and without jobs. I guess that's a lot to smile about for him.

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Post ID: @OP+13aAlWUx

8 replies (most recent on top)

Probably steals toilet paper and soap from the bathroom too.

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Post ID: @1bql+13aAlWUx

It is Christmas for him. According to etrade financial, as of July 26, 2019, he owns on 626,279 shares, after a gift of of 15,492 shares, for the quarter, which happens to be over double the gift he received last quarter. So he owns $116,287,485 worth of UNP stock, share price growing and share count growing at 60,000 shares annually, plus, $1,141,667 salary, plus, $1,780,000 bonus, plus, $3,900,049 worth of stock options, plus, $115,121 other compensation, as per salary.com. Yea let’s do more with less.

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Post ID: @1kzp+13aAlWUx

The only things I can think of that could possibly be going through Lance’s head are:

  • Jack Welch did it at GE and everyone hated him, but now he’s regarded as a great CEO and so will I

Or

  • This was inevitable, so I’m doing it to keep UP as healthy as possible during this Wall Street screw

How else could he live with himself?

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Post ID: @1kil+13aAlWUx

Revenge of the Nerd

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Post ID: @1yso+13aAlWUx

Lance is a psychopath. He enjoys this. Be careful who you pick on in high school. They might grow up to be the ceo

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Post ID: @ivj+13aAlWUx

Layoff Lance has actually been doing this for years. He has a lot to smile about. He stands to receive a very healthy bonus when he hits the 55% OR. That'll be about the time he makes his exit. I never trusted him since he first came to the UP. It's truly time for him to go.

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Post ID: @qgz+13aAlWUx

The article was slightly confusing. It said UP had 37,500 average employees in 2019 but planned to operate with 8% less in 2020. Later on in the article is stated in the fourth quarter UP averaged 34,500 employees. That is already 3000 or 8% less than 2019 average. Are they planning on cutting another 8% of 4th quarter average or operating 8% less of 2019 average?

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Post ID: @dfj+13aAlWUx

He always has that stupid grin. He’s a snake oil salesman.

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Post ID: @sqn+13aAlWUx

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