Here’s the reality, expect it no matter what your circumstance is.
Location strategy is only one variable.
Wave 1 remote folks not in a hub location
Wave 2 folks in a office not a go forward location
Wave ‘anytime’ where you are remote, non core location or in a core location but your job has been eliminated then you will be a victim too
NO one is safe… the end goal is to get all jobs to India.
CS set aside 900 million dollars for severance and I’m sure he will use every last dime.
Some may get lucky and have relocation offered but it maybe to a location you have no interest in.
A person in my former team was remote in Iowa and was told to relocate to San Francisco where housing is triple the amount.
Accept the reality that you are just a number and can be laid off on any given Tuesday!
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Charlie Scharf should be in jail for treason. I was laid of for reason of age (over 65) and race ( non-Indian). They can front whatever reason they want, the truth is anti-american, send him and the board and executive row all to a foreign prison for the crimes.
if asked to relocate from Iowa to SF, while it wouldn't begin to cover it, I'd assume they would be get a cost of living bump do to the change in area differential.
@mac
Yea that’s what I told them too. Appendix F. Read it. Just nuts that they’d be asked to do it and it was suggested that they “move closer” to the office
if they were remote and now being told to go into an office >40mi they can call HR and submit a request for severance. read the details in the benefits book.
I was told by a friend yesterday that they’ve been informed that they need to make the 60 mile commute into the office (a hub) and that they were not on the “layoff list”. They are currently remote. Interpretation, make the drive that exceeds the 40 mile limit or leave on your own but we aren’t going to lay you off with severance.
I highly doubt the avg is 100k, comparatively low wage plebes vastly outnumber highly compensated folks getting laid off in all groups not called "tech". If a person making $20/hr that's been here 4 years of less gets laid off, that's a $6400 severance expense, plus some healthcare costs, but not much considering the duration.
Let's see. $1b is packages. If each layoff cost $100k (some will cost more and some will be less), then it's 10,000 heads. 10k persons x $100k = $1b.
Yes, long way to go.
It’s very true. All jobs are going to India at this point right now. Period.
Charlie and his guys like Doug Bernstein are part of UJA (United Jewish Appeal) they looking after their own and don’t have loyalty to America and Americans
All jobs in India isn’t even logical
Thanks Captain