A lot of companies are laying off thousands or tens of thousands. Our earnings were bad but the stock didn't move which could be foreshadowing a large cut. Travel budgets cut, hiring freeze till Q3, and leaders telling us to invest in our development. These look like clear signs of impending doom (layoffs). Also saw some things around end of year headcount and budgets already being discussed. This seems early but I'm not the one making those decisions, so is the 2nd pay in May going to be it?
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Pound for pound, lb to lb, someone needs to remove the ineffective and inefficient weight bringing the company down for decades. Right? Poorly organized and burned out teams. Micromanaging senior leadership. It’s bad and the results or lack thereof speak for themselves.
Mid June layoff
@zp+1jt7e2cfh yet somehow the finance lead for VGS whose failure caused company wide VSP remains. Most of VGS operational leaders were rightfully fired. No accountability within finance.
The FP&A teams and corp finance teams are the most unqualified, worthless, waste of money in the company. Most of the FP&A Sr Directors, AVPs and VPs are nothing but a waste of space. They are barriers to business and a waste of budgets.
Will be much sooner than you think. Fair warning.
To all you Good Folks save as much while you are working. Years ago out of no where they called me upstairs and told me the end has come. I am a bitter man today.
How big? 8" cut? oh baby! y'all left wing da---e racists!
Hiring freeze til 3rd quarter is no big deal. It's 4 months away. If big layoff was coming there would be a 4 month freeze. There just wouldn't be any Hiring at all for the next year or two
You will get the "big one" alright. Get ready and lube. Hans needs to be arrested.
@bh+1jt7e2cfh knows how to clear his history and upvote furiously to feign consensus.
Attaboy!
rebadging is coming. And doesn't require any severance.
They need to unload Scampath. Shanks and the rest of the no deodorant mafia. Numbers are down yet Scampath still has a job. Most companies he would be go. Shanks should be gone for the Shaddy HCL and infosys deals.
If IT is being pressured to offshore and outsource headcount, be sure to let them know that finance continues to hire up in the highest price point basking ridge hq for basic functions like copy and paste. Or as they claim, telling the story 🙄. Somehow they get away with it, but it should be very visible and discussed by all how legacy finance leaders erode shareholder value themselves while pressuring other teams to cut.
Re Post ID: @c4+1jt7e2cfh . They want contractors
what hiring freeze till Q3?
I saw contractors being added locally
Post merger re-org will definitely see one across the board as functions are combined, and duplications discovered. Execs, especially in IT, should be the first to go. When your priority is what can be off-shored, not employee development and real leadership, it's long past time to be gone.
If the company was smart, they would take a serious look at firing finance VPs with 30+ years that continuously add overlapping headcount, misalign resources and task their teams with pointless busywork that burn them out. It’s long past time for this type of chaotic, tyrannical leadership to go. Leaders are needed that focus on results vs their own obsession with power hoarding and control in the delusional effort to become cfo. It’s inexcusable this way of leading has went unchecked for so long. The c suite levels of the company are well aware of it too and do nothing.
Usually oct-nov ....
If there is a recession, or sales slump, you can bet there will be hiring freezes, layoffs, no travel