severence package reduced -check
layoffs- check
reduced 401K company match-check
more layoffs- TBD
vacation reduced-TBD
7 replies (most recent on top)
Nothing would surprise me anymore. If there is something they can do to save 1% on salary/admin/benefits costs, they will do it.
@WIUwfPp-7fxe Are you stating this on good authority? Or, are you speculating?
Starting next year the company will stop the practice of offering a defined vacation "benefit" and instead offer "Unlimited Vacation". This is part of the multiple actions that are being put in place to reduce the cost of doing business globally. This will apply in particular to countries (Like the United States) where companies are not mandated by law to offer any time off (vacation or Holidays) at the national level.
Here are some articles on "Unlimited Vacation". At the surface it sounds great for the employee...
http://www.forbes.com/sites/tanyamohn/2013/08/13/paid-time-off-forget-about-it-a-report-looks-at-how-the-u-s-compares-to-other-countries/#be19c1bbd8aa
http://time.com/money/4070275/unlimited-vacation-policy/
http://fortune.com/2016/03/10/best-companies-unlimited-vacation/
On a personal note, how could you possibly have any respect for a parent that does what Icahn’s henchmen do for a living. Not someone to be proud of.
I heard that everyone who has 6 weeks will be reduced to 4 weeks max a year.....
how were vacations reduced? I must have missed the memo.
I have to admit, Icahn and his henchmen are really creative. Every time I thought I've heard it all, they come up with something new. Changing 401K to annual distribution is a brilliant way to save money on all the people that will leave or get laid off before the end of 2019. How would you like to get laid off next December and get no 401K match. But hey, what do I know. Not like the share price has plummeted since Icahn took over. Closed at $19 today.