We still are not hearing that directors and VPs are being let go. Today 65 finance advisors and 7 finance managers were informed that today was their last day. 1 manager and 4 employees of the student accounting department were also let go. Enrollment numbers are declining and the marketing, IT, and financial aid departments are definitively failing to do their jobs. The decline started when the Credit Suisse guys came on board and continued with the onboarding of the app Vocado and that wreck of a CIO who had no idea. It is time for the 'GOLDEN' parachute employees to leave without their parachute. They have caused the downfall of what was once a great university.
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The package was weak
I was impacted by the lay off. Human Resources and Ariel the IT VP was cruel in the delivery of the layoff. On Wednesday those that were impact received an meeting invite without a name in the subject in the title (no agenda) and all those impacted names were on the distribution list. Our names were not obscured. The invite was sent at 1pm and the meeting was at 2. The invite asked that we be on time and don’t be late.
Once we arrived the VP gave a 30 second spill about reorganizing and that we are the first pilot group and there will be more to come. And that was it. He asked that we wait for our name to be called by a HR rep to go over our compensation package. The package was weak . And you must sign away your rights not to sue before you can receive your money. This company is in financial despair. On Friday they layed off employees in their Accounting Department.
#GOLD POST
#It might also be a paradigm shift. Only time will reveal what this really is. Shale Drilling + Renewables + Environmental Laws + Fuel Efficient Vehicles + Complicated Geopolitics did not factor into the supply/demand equation in the past. Oil prices might recover quickly, but they might also take 10+ years to recover, nobody really knows. COP might be doomed, but with a recovery in late 2016 or 2017, it might recover and prosper. OPEC has a mind of its own is unpredictable - no one saw this crash coming, and likewise no one can really predict what will happen in the next year or two. It will be interesting...
MLS gave notice in February....Daves top 10 why
Why would she leave?? 1. Cant keep cutting your way to a bonus after 2 years, needs sales growth which of course there is none. 2. Significant compensation tied to bonus and stock which is financial results based. 3. Stay too long you are associated as a leader of a loser organization. Leave on your best year. 4. Industry is dying and no way to reverse it. Every business initiative and project was a failure. 5. IT failures continue under her watch, even accelerated. Outsourcing failed because systems are way more custom and poorer than originally thought. Good IT talent left, bad IT talent stayed and Infosys and TCS were tremendous disappointments - can't code hello world. 6. CIO SS was her pick and he royally messed up IT and it will not recover. 8. IP department and experience destroyed, accounting department destroyed, store personnel destroyed. 9. KFarts/Sears/Office Depot/Max have taken over and wielding their magic that ruined their previous companies and 10. MLS was bright, talented and a go getter and there are much better opportunities in a growing company/industry for her skills - just watch.
HR jobs to Costa Rica
Graphics positions moved to Uruguay and a ton of IT jobs wento to India. The company is not what it used to be.
IT stinks
I work in the accounting department and rarely does any new application work as designed. Instead we spend months cleaning up issues. Look at Hyperion, what a giant waste of millions of dollars, it should be scrapped.