Reduction in staff due to capex review occurs yearly. This is not a layoff but reduction as needed to ride cost and promote efficiency within the department. Hiring will occur and employees turned based on performance and salary. This approach allows for removal of stagnation, high earners, and promotes healthy turnover.
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You're an id--t.
Capex is a compound business abbreviation for 'Capital Expenditures.'
This term is used when looking at departments for trimming material costs, unnecessary physical equipment, buildings, not employees. THEY ARE NOT INANIMATE OBJECTS.
Capex is not an HR term used for reduction in force (RIF), layoffs, or my favorite company propaganda piece, "budgetary department outlines for trimming the projected fiscal year".
Wherever you heard the term, adjust your usage- I don't care how the so called educated derelicts in your meetings threw it about. This is about as silly as using the word 'paradox' to mean 'two Doctors'.
Nonetheless, after reading many questions and comments about IGT, one thing becomes clear: Why would anyone work for ANY employer KNOWING they are subject to a yearly RIF? You are either woefully desperate or are making so much money in a year that you can't leave!
I'm actually appalled with the bulk of commentary about IGT. It's pathetic. This isn't 2008-2010.
This is the best economy in 30+ years- and I'd be voting with my feet ASAP. Screw them and the Italian Horse they rode in on.
At least your not in NY. Management is so out of it and friends with each other that as an employee, it’s hard. Real hard. People are just leaving and staying is tough. I wish life was better but it’s a tough life unless you are friends with the select.
By implementing this practice, it is the quality and skilled employees that choose to leave because they understand their worth, and other companies will quickly hire them because they are good at what they do. IGT is lacking in efforts to keep the highly-skilled employees at IGT. Morale is low and continues to decline. I really wish for new innovation to turn the company around so that it goes back to the successful company that it once was.
Why do you keep posting this? Do you work @ IGT?