The Corporation’s value system has shifted tremendously in last 5 years to be exactly polar opposite of many long-term employees personal value system.
When the Board awarded Execs RSUs in 2020 with share buybacks and also simultaneously told Execs ok to suspend 401k match for all employees that does not seem to be the single straw that broke the camels back.
Further, the camels back does not seem to be broken with the additional single straw of the wide public message that 8% NSIs will continue for a few more years; and that the PIP effort is not a headcount reduction method.
The camels back is actually being broken in real time with the combination of the above two messages and two straws suggesting the employees of this once great corporation can’t see through the poor decisions that are being made and are destroying the work ethic and culture of this once great corporation.
So the end result is many many rational and high-performing employees whom see the synthesis of the likely business outcomes resulting from these messages and forward looking plans are leaving in droves.
When asked by younger near graduation college potential hires if this company is focused on employee careers and career development, many current and former employees are referring them to this website and Glassdoor reviews.