I got laid off last Tuesday (one of a two day process) as part of the big re-org as did over 30% of my team.
Overall I hear the rumors that 800-1500 people across the globe were affected.
Decent package but the choices of who got laid off were made by senior executives who didn't understand who was really doing the work!!!
No logical rational as to the method of cuts.
Charlie applying same strategy in BNY , the employees are being harrassed..
Got laid off back in 2013(?)
Severance was great. Company was building Singapore office at the time.
Process continues to this day.
Couldn't be happier now that layoffs is not in my worries everyday. I still work in the bay area and am a union member.
To the person who asked about "a central point to ascertain the number of 40+ employees" that were let go. The separation package should include some sort of exhibit document that includes the titles and age (not sure about name) of those that were included in the layoff. There's been several complaints filed with the Department of Fair Employment and Housing and even lawsuits that have been the result of the continued disproportionate number of older vs. younger employees being laid off quietly throughout the years. In addition, I heard a recruiter filed a suite that claims she was told to only target individuals younger than 35 for positions at Visa. That was settled quietly. And let's not get into the payoffs of a few employees that had affairs with senior managers...tsk tsk.
I work in FC and the selection criteria varies. For example, there were old timers for more than 10+ with bad work attitudes and made your job miserable, some were young East Indians for less than 5 years with the company and were let go. I believe the selection criteria was random and by department needs. Facilities was also impacted and I can see why there is no need to keep more people in FC since Visa has more offices in different places. Several departments in FC are now
moving to Austin Texas or somewhere else were taxes and cost of living are less compared to California. Visa cannot be a tech company like Google or Twitter and cannot be compared. Visa does not offer 'free' food and snacks like Google...
Is anyone aware of a central point to see if we can ascertain numbers in workers 40+ have been let go? Anyone aware of any type of organization around this?
My personal knowledge tells me there is a disproportionate number of older workers effected - - and most of those with high ratings in employment reviews. Meanwhile, younger workers with partially achieving ratings remain.
There is something concentrated in Visa's efforts to rid themselves of older workers, no matter how good they were. Probably Charlie didn't like seeing anyone older because he wants to believe Visa is a tech company like Google or Twitter.
Strength in numbers. Let's begin organizing some facts.
Just got laid off at Visa Europe. Oldest employees hit hard. A lot of knowledge gone, but hey, who cares. Execs still in place, having engineered the process. Problem is that lots of folk waiting for end of year bonus before they quit in 2017. No one wants to work there anymore. Corruption and incompetence are the major themes. Glad to be out!
Some of Scharf's DRs will leave the company after the holidays and some will be out the door before March 2017. The less popular are Scharf's 'pet' and
If Kelly is frugal, let's see if he clears the deck and replaces Scharf's DRs.
There are Tons of buildings for lease in Foster City sitting empty for a couple of years. After Sonny moved out of FC (5 years or more ago), The existing building still empty and it just leased but the entire floor sits empty. FC feels more like a 'ghost' town. Real Estate prices will come down slowly and Visa SF will move their staff again to PA and FC = musical chairs. New CEO is more thrifty and on the conservative side. He will try to bring the right people, but he cannot please everyone. He will do the right thing. Charlie was never happy in California since day one. when you are not happy with yourself You don't care about others.
90M to have SF office @ 1 Market
Pali Alto to be like techies
One of the SVPs was running around in the last few months telling everyone "there is not much overlap" and there won't be any merger integration really happening, no worries, it's all good.
These are the people that need to be FIRED FIRST.
@2zbn Where did you hear this?
Foster City closing in FY 2018