I heard from a reputable source that the deal is done but they won’t tell me who. Anyone know who the unlucky winner of coretech is?
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They probably don’t want middle aged + expensive talent to stay. They want to replace with cheap millennials. Fortunately it is a fools choice as many don’t work 8 hours. They spend half of their 6 hour day playing ping pong and other games management put in certain sites ornon their phone. Just grab yourself a Millennial Monopoly game that just came out. The laugh is on us though because they get horrible talent and will fail if this happens.
They’re id--ts if they think anyone would stay. All of the people I know who have moved on are getting 15-20% more with better benefits!
Initially your salary will be frozen but within 3-6 months u will be asked to agree to the paycut, if you dont agree u will be let go at a future date with some carrot dangled in front of you so you stay long enough to train your replacement. Genpact or Accenture or anyone else will not pay US level GE salaries.
When do we anticipate announcement? Sick of this $hit.
I can't say if you're being overly pessimistic or not, but pure tech is different from other divisions. If the new company demands paycuts, most people will simply leave. I get dozens of recruiters hounding me every week. I know my value quite well as does everyone in my office. The company's value would be gutted overnight. Raise freezes seem more likely.
I would expect 20-30% paycut in salary. Perhaps not immediate but certainly within 12 months. Genpact or any other offshore company will not pay GE level salaries. This will also not be the first time this has happenen and in the past anyone who disagreed with the new pay package had their job eliminated.
So you’re saying they are going to come out and say deal signed, you work for third party and oh by the way 20% paycut enjoy your job at your new employer?
Yes. Deal has been signed. Its Genpact having 70% share. Probably bangalore coretech team will start moving to bangalore genpact office from December. Heard that as per salary normalisation there will be deduction of 20% for GE coretech employees who will be moving to genact.
A deal has definitely been signed. I don't know the details but everything was signed about two weeks ago. GE managed the minority ownership. I don't know about the combination of Cybersecurity. An announcement should be happening soon. I think it premature to say anything positive or negative. I have been given strong positive language by my leadership and, barring any other information, am optimistic.
I was told by a high level Genpact exec that the deal with them fell through. Don’t know if that’s true but I feel for my former co-workers if they get “aligned” with a 3rd tier provider. There’s no way for them to make money and keep paying the money that many of them are making.
I realize that there a lot of people on here with a sour experience but there are many quality people still in the digital/coretech group that are going to get hosed.
probably Genpact, and they don't pay GE level salaries. Look to CoreTech being migrated to offshore pretty quickly which means more misery for rest of us.
Coretech is getting acquired by DrumbleTech Inc. based out of Providence RI. The deal was just signed.