So, the voluntary period is now over. Those who applied and were accepted should have been notified… now what?
It is unlikely that enough people signed up to satiate the needed cost savings, right?
12 replies (most recent on top)
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It's possible enough applied - we have no way of knowing as we do not know the targets. Headcount or $$? There are several director and VP level folks leaving.
Regardless, I believe an ISP is coming. How much will depend on Wall Street's reaction on 8/1.
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According to my manager they reached "more than they expected" for VSP. That said, they still are doing ISP. SMH
Key long term higher grade employees with amazing knowledge and skill sets are leaving. This is not going to be pretty. We are still scrambling after ACT and SET. I don't see any future for this company. I think some are being "encouraged" to leave. No one is my org was eligible for VSP but somehow the ORG group leader is "retiring" and taking sabbatical this year even though they are not eligible until next year. Ummmmm
VSP and CPM are group-specific based on revenue forecast and budget. So it’s hard to answer your question generally.
If they have a specific target then it is simple. Target - vsp = the number of people let go in short order. WARN notices can be submitted the day they tell people. It just means the severance will be at least 60 days of pay and benefits. No company is going to keep people around for 60 days and have to deal with the risk of malicious behavior. Productivity will drop off until the all clear is announced. Watch for 1 on 1 meetings with your manager with short notice.
I don’t know man. What goes around comes around?
Laying off those doing nothing managers to save more money, more impactful to cost-saving, and improve employer morale!
'It should wrap up mostly next week of the non voluntary very quietly very quietly very quietly'
Is there a WARN announcement?
Whats’s next?
After close of VSP, they’ll move quickly to hit the remaining target and no one knows how much that is 10% 25% 50%? and where you fall in ranking of whatever criteria is used.
It should wrap up mostly next week of the non voluntary very quietly very quietly very quietly
My advice is take each day with mentality of a day worker: do you have work that day? Great. It’s a blessing. Or at least a job. Repeat 5 days.
After a week you can probably breathe again if you made it
Wow..this sounds like 2017 all over again...it was brutally sicking what happened during that time.
Was VSP across the company? In all groups?
It's possible enough applied - we have no way of knowing as we do not know the targets. Headcount or $$? There are several director and VP level folks leaving.
Regardless, I believe an ISP is coming. How much will depend on Wall Street's reaction on 8/1.
BK style disappearances coming soon.