It is a lay-off
15 replies (most recent on top)
No retrenchment. dividends needs to be paid.. He is doing everything he could to maintain the dividends.. indirectly he benefits the most from maintaining it.. and just before a dividends cut, he will pull the plug and abandon ship.. very clever...
Enough about saving the world... when they cannot even save the company..
It is a reduction in workforce, not a layoff. It is firing poor performers, not a layoff. It is cost reduction, not a layoff. It is an effort to increase cash generation, not a layoff. It is cutting employment levels because the employees or business are no longer needed or strategic. It is a reduction of surplus employees, not a layoff. It is a plan to have fewer employees and improve cost efficiency, not a layoff. It is a plan to reduce numbers of executives and expats, not a layoff. It is a plan to cut compensation costs, not a layoff. Severance payments increase costs, no need to pay these, severance is a waste of money. If you want to call it a layoff...fine, but it is all these other things also.
Shameful.
Not even a layoff... used rigged rankings to force people out.... and yes it was rigged... only difference in new system is more buckets!
Utter disgrace what they’ve done to the US. They didn’t lay off because the “company is going bad”. They did it over greed and pride. What pigs to do something like this to your own employees.
USA will be hardest hit. Highest costs and highest number of people not directly tied to producing assets. The US country startegy will likely be the most painful, and the US does not have many laws protecting you from layoffs at will. Update your CV and get ready to reinvent yourselves. Probably 1 in 4 (or more) will be out in the next year or two. Bangalore or redundant with no replacement.
LOL so several weeks ago when several people posted that this is a lay-off
Do you believe it now?!?!?!
You didn’t have to be Einstein to read between the lines.
Who cares?
I guess an unethical concealed layoff and labeling of a percentage of your work force in the middle of an economic crisis all while keeping your fat bonus and saving your dividend (for what a couple of months?) should leave us with concern for his feelings 🙄
Please
They would rather be hated than ignored. It’s still attention.
We'll, you guys probably made the man mad with all of the insults.
He is begging you to resign.. losing credibility each passing day..
You mean cut salaries by half and fire anyone, everyone?
Ok!
That makes zero sense from a business perspective
Blah blah blah