Layoffs yesterday and today. Jobs moving to Mexico and India.
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They couldn’t even be bothered to pay out pto on a separate check from severance so tax rate Was about 40%. Thanks kpmg.
Lynne Doughtie gives a heartfelt retirement speech today while touting the firms values. Then rides off into the sunset with a hefty retirement package. Meanwhile 350 employees are wondering where their next paycheck will come from and how will they pay their rent. All this in the midst of a pandemic, which Lynne touted there would not be any layoffs because we were all in this Together, For Better...
Those who are survivors, get your resumes together. Next wave to hit end of fiscal year, when you complete your job transition to India and Mexico.
First it's not Demand Management Transformation. It's Delivery Model Transformation aka we're delivering services to you from India and Mexico. Confirmed 350 k–ls, entire teams have been removed. Teams were even asked to pick the weakest link regardless of how positive their review is and how well they were doing in the firm. So if you had 4 people operating at a 10 and one guy who was a 9. The 9 was pretty much doomed. Cuts went deep from Directors down to the lowest paid associate. While they were transparent this was going to come at some point and it got delayed due to COVID, they came pretty swift and hard and provided very short notice. I would say it would be like having the police call you and tell you they are going to serve you a subpoena, but the send the swat team in and slamming you to the ground. They having a call on Friday for the survivors. Going to be interesting few months as no one has any direction of what is going to happen. Many lost their managers and have no clue who to report to. We definitely all still have targets on our backs...
About 350 were let go firm wide. The Montvale, NJ office was hit particularly hard, after months of telling us how important it was to their strategy.
I’m one of the impacted employees. I don’t know how many are targeted, but all are supposed to be notified by email by COB today, and will be meeting with an HR rep between today and Friday.
I know of at least three in my group alone.
The layoffs are part of the “Demand Management Transformation” that is part of a larger effort to reduce the growth of IT spend. I did know that layoffs were coming due to this program. The firm was pretty transparent about that, but I had been told that our jobs were pretty safe as we were woefully undersized.