I hate how we all know the layoffs are coming but we have to guess everything from when they'll happen to how many will be affected. Why keep us guessing?
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These layoffs have pretty much been decided. Layoffs don’t happen immediately. It’s always a process or a discussion...Even if you know who you would pick...you just don’t announce it if you see bad Q3 results. Need time to go to HR get packages etc. Again, these have been in the works in GTO and areas within it.
MetLife likes to lay low in news for layoffs doesn’t usually do big groups unless relocating or closing a facility. Last year, last days for some were just after Christmas...time of year doesn’t matter really anymore especially when targets need to be met.
As much as the company preaches support of it’s employees, and in ways it IS supporting them...it’s also doing what it set out to do. Don’t be fooled.
I too agree with @2emr. Budget cuts continue, layoffs to match.
But, if MetLife were to have a really bad quarter, I'd guess that that could trigger, or be a rationale for, a larger layoff.
For Q3 — Q3 results won't come out till first week of November. If Q3 is bad (I have no reason to expect that it is), then layoffs would need to occur almost immediately to avoid pushing into the US Holiday season and being perceived as a real Grinch.
Production support teams were being looked at for leaning out overlapping teams. I would guess dev teams would also be targeted as project funding is cut. Time will tell...
Very well said @2emr.
While, IMO, there are lots of areas that could be cut with no effect, I wonder what will happen when they can't get things done because they have cut the budget so much and laid off the people that knew what to do.
The layoffs have nothing to do with the company doing well or doing “bad”. It is a continued execution of the unit cost initiatives set forth years ago - now called New Horizon - and the continued simplification of operations etc etc blah blah - read the CEO’s letter to the shareholders. Need to keep them happy. Budgets keep getting smaller, do more with less...yet it seems manager level and below will be the positions eliminated.
So how do we know it’s coming? We were told it’s inevitable. There’s no money, there’s not enough in the budget and that 2021 doesn’t look any look any better even if some of us make it through. We have lived in fear for most of 2020. Cant give much more specifics...
How do you "know" layoffs are coming. I have seen no evidence?
What makes you so sure? It's a strong company.
Transparent management is good management.