Nobody is safe at Bose anymore. Over the last several years I have seen people let go who I would never in a million years expect to see being shown the door. Good people who have been with the company for many years. Some of the hardest working people I know. The fact is, it is now all about the numbers. Nothing else matters. And if the numbers say you are out, you are out. There is no such thing as "safe" here anymore.
5 replies (most recent on top)
"Executives will be kept so they can help dismantle and then eventually they will get a big pay out"
Once a company decides to shut down, and close completely and/or sell off to a new owner, executives and management are disposable. It's in the interests of the company to retain key shut-down executives. They would be gone without incentives, So yes, key executives, board members, and managers, crucial to the shut-down, will have bonus incentives. Otherwise, they'd be gone. It's an ugly part of the dissolution of a corporation. The people firing you are paid a bonus for doing so.
Anyone left as a board member, executive, or upper manager, is in it for selfish reasons, and closing down the company is what they are paid to do.
It's not "just business" to lay off people just based on their salaries. Value is not just what employees cost but what they can do to fulfill the business goals. Failing companies that are being "restructured" for eventual sell-offs on the other hand could care less about what the future requires in which case the only value they see is in cost of salaries. Executives will be kept so they can help dismantle and then eventually they will get a big pay out and then they'll be gone as well.
I continue to watch from outside following my departure 5 yrs ago. Nearly everyone I respected has been let go or departed of their own accord. The one good thing: Many are being scooped up right away by companies that I presume recognize their value.
People who are underpaid because they underperform are the safest. Bose layoffs are notorious for terminating a small number of incompetents, while protecting the most cost-effective incompetents. Hence, Bose is where Bose is in 2022. Incompetent.
Um... those are usually among the first to go. Long-timers usually have some of the higher salaries in their role. Just business.