Teams affected by layoffs will be those with a lot of WFH (work from home employees) . Those are the easiest to quietly get rid of. Currently discussing a 15% cut across the board starting with early retirement offers. Big cuts coming mid January.
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It’s mid-January. So far, all I’m seeing is a bunch of feel good titles being handed out like candy, and payroll being spent on sweeping and other non value nonsense.
As a general rule a lot of the WFH crowd has become increasingly less productive. Many keep children at home, start later, end earlier. The litmus test if they really work hard is when you say to come into the office occasionally. If they kick and scream they ain't working. I am talking about the coffee guzzling skinny jean crowd! Lol go team!
Hate my job. Would love to volunteer for severance, if that is even a thing.
Starting next month,if you have a conversation with your boss about how you thought 4th quarter went,you will be performances out in the next 6 months....
Severance may look like this based on history -
immediate termination - 60 days pay - one week pay for each year of service up to 26 weeks - no payment of unused vacation unless you are at retirement age - six months copay for health care -
The past may not predict the future.
How many people @ Target HQ are even nearing retirement age to take early retirement? Haven't ran into many people over 50 at Target.
Any idea on what the severance package would look like?
I am pretty sure they have to give a WARN even if they layoff an entire team due to “redundancy” so the post above is not entirely correct. WARN concerns the scale of the terminations and not the reason.
FWIW we aren’t backfilling L5-6 roles in my area after people left for other banks/finservices companies. Here is hoping that is enough to stave off a January massacre.
Stores and Distribution do not have a work from home option, and they have over hired coming out of the pandemic to the point they will have no choice but to cut jobs. Target says they will not lay off, but their past MO is to deem entire teams no longer essential and cut those teams, only to replace those jobs 1-2 years later under new titles. That way, they are technically not laying off, and the restructure does not require notifications. And rest assured, there will be a lot of trimming of the fat, using performance to fire, until head counts are under control again. So things that were overlooked 2020-2022 will all of a sudden be an issue again.
Is 15% higher than after the 2015 Target Canada layoff? Sounds excessive unless they’ve way over hired the past couple of years.
It doesn't matter if they WFH or not - any layoff over (I think) 50 people has to go through notifications, including governmental ones. That's part of what the WARN act is for. It's possible TGT will nibble around the edges to avoid the bad PR of a big layoff but if they want more than 50 people to go, they'd likely do a big one-and-done event. Plus I think Wall St rewards visible efforts like a mass layoff.
Mid-January would make sense. Start the new fiscal year with less payroll expense.
All teams have the option of WFH (with a few exceptions). This doesn’t sound like it’s worded by someone actually in target HR…..