It makes me sick to think what the ET department has become and the rest of the company.
I'm not impacted, but I know many who are. Hard working, smart individuals who have skills that are needed in other parts of the ET, but Executives made sure they were cut. People couldn't apply for posting for other positions. That was forbidden. People who went to that area in November were cut as well. (Dirty move there. Knowing you are going to cut an area and allow people to move to it. I guess it is all about the numbers. )Why? For budget reasons.
I've told all my analyst to update their resumes and update their skills. We are probably next given some of the recent communications. Messages hidden in plain site.
Like the message several of my analysts contacted me on in their EIP email. "we are taking actions to improve profitability". Meaning more cuts. I know the leadership bonuses were impacted by the expense ratio, so the is the executives will be making more cuts.
The other message being communicated you need to be aware of, which a manger friend of my shared, is the message going out to the vendors.
- "Allows SF to put more focus on our key technologies." This means if you are not part of a strategic work effort, you are next. Don't think you are safe because you are a software engineer, they cut a lot in this first round. Think of areas like General Departments, your basic services can be handed off to an outside firm. No need for you.
- "addresses the recruiting and retention challenges". If SF thinks they had problem with recruiting talent, who is going to want to work for a company making cuts. With regards to retention, several people have already left. Look at all the directors and managers who have left since 2020. That number is growing. Ask yourself why would these people walk away from their bonuses, pension, and benefits? Why, because they had a glimpse into bad things are really are and the incompetence of executives.
Now you know why they condensed ET from 5 building down to two. When they are done, there won't be enough people to fill even two.
HCL is going to fail, why? Because the executive who put this in place sold them a pile of lies. Talking with people impacted, it is clear in the transition meetings that the executives are clueless to what the areas under them do.
The company is now being run on fear and intimidation. A fried of mine posted something on Yammer on the recent layoffs. HR called him and told him the post was removed. And if you post something like that again, you'll face disciplinary action.
This is warning the company is in bad shape. If they are doing this in a "record last two years" what are they going to do when things get tough and the auto grow trend goes the other direction?