Any relevant updates on upcoming mass layoffs next month?
23 replies (most recent on top)
I would estimate that we are at around 20%-25% laid off so far.
Probably have around 2000 or 2500 to go.
The slow hiring in India isn’t helping much. That’s why the layoffs have been a trickle every other week.
What % of the workforce has been laid off to date? How close are they to the 45%? It seems more people have resigned recently too.
Remember the initial intent is to layoff 45% of the workforce in the states. This could grow if they find success. And Veritas defines success in $$$ savings. And if you can be replaced with someone that cost less $$ then you will be let go. You will be considered dead weight.
Sadly Gainwell sees all of us as an expense and not as a person.
This is correct. Nearly ALL work can be sent offshore. No one is safe because of contract language currently. Only small groups in the states would be needed to play liaison between India and the states.
Fact: Veritas has the $$$ for lawyers to examine every contract and every loophole to offshore as much as they legally can. Note to all: there is a lot of dead weight thinking they are safe because of how state-side assignments are currently interpreted in their state contracts. Now let that sink in......
But we’re not trying to administer the Indian government’s healthcare, are we
Come on, man! We don’t insult anyone for not knowing proper English. We su-k at other languages we aren’t familiar with.
That is not nice…let’s stick to the facts and logical consequences of what we will get into due to this offshoring done for personal gains - only execs stand to gain out of this!!
Hey, look on the bright side. Now there will be more people talking who are hard to understand during meetings, and more grammar errors in documents
In addition to $$$ savings (or bonuses for execs, based on where the profit goes),major point of concern is the extra toll of useless labor work we will get involved in to ramp up people in a totally different time zone with minimum/no healthcare background. That is frustrating!!
Most of us have been down that path multiple times during HP or even before. It is just a waste of time and effort to make profits for the execs (again, Clients do not get much of it, if at all).
the part of the offshoring to India (or wherever else) that really makes me irritated is that the vast majority (all?) of Gainwell's contracts are with state governments, possibly some with the us federal government. You would think that the agencies that contract with Gainwell (or its competitors) woud want to insist that the work be done in the US, as thats part of their tax base ... but not every state has that in their contract and so Gainwell (and their competition) exploit that to the fullest whenever they can.
If all this is about saving money I have a suggestion. If you add up what the employee and employer pays for medical and dental it comes to 16k for an employee with dependents EACH YEAR. Now times that by 12K employees. That's 192 million a year for Healthcare and Dental. Whoever negotiated our BCBS Healthcare Plan needs to get a new pencil.
If Veritas seeks far fewer U.S. employees for Gainwell then Gainwell has to secure way more new commercial business than government business going forward to support some hare-brained India offshore labor cost savings scheme. That cost savings bus left the station years ago. Commercial business pays more for IT related services and has less regulatory strings than government business...imo. So, if Gainwell doesn't offer any stock purchase plan to all workers, yes, there are plenty of greener pastures elsewhere. Go forth and prosper all! Stay positive and press onward and upward! Offshore labor will run Gainwell into the ground one way or another, sooner or later....deglobalization is coming. Offshore is like FIAT - "Fix It Again Tony"
That’s a poor outlook. I have worked for companies that value their employees and treat them well.
Thinking that all companies su-k as bad as Gainwell is very short sighted.
I’m a pretty positive person and take the high road. But I know that sitting and waiting for Gainwell to come around is not a good decision. It’s not going to happen. I need to stay in that high road. And that’s not at Gainwell Technologies.
He-l yeah. I’ve never worked for a company that didn’t su-k and cared about its employees. Just another day
Agree with previous posts here - staying positive is important!
Fear mongering going on in a few prior posts, as if sky is falling or world coming to end is totally unwarranted.
My take on it is simple - there are things none of us have control over like hurricanes, tornadoes or earthquakes. We can only prepare to the max extent in life we can and then hope for the best!
Stay strong and sincere in your efforts to find the best fit job for your own personal situation (each of us is in a different phase of life). Good luck and best wishes for the holidays!!
I get trying to stay positive. However Gainwell has built their business model to have mass layoffs on a regular basis. It is a way of doing business for them. Notice that they never talk about it. No mention of it in any meeting unless someone specifically asks about it.
They have hung their hat on expanding offshore and shrinking in the US. Veritas has also dictated that cost savings means less employees.
There will definitely be mass layoffs in 2024. This behavior will continue.
The leaders they have chosen are cold hearted snakes. Watch out for yourselves if you choose to stay onboard the Gainwell train.
Ditto. Just do the minimum asked for and wait to collect paychecks for now and later severance and unemployment - if and whenever that happens.
May be, there will not be any major mass layoffs next year. Trying to stay positive!!
It's really hard to care anymore. I just keep working and let the chips fall where they will.
Gainwell is ramping up in India. That is their business strategy going forward to save money.
They are looking to increase their headcount by over double the current amount.
Gainwell won't survive if the company outsources all their labor to overseas companies. Companies in the US are hesitant to work with companies that host their employee's overseas. It will be the nail.
Are any groups NOT losing people?
Gainwell is a meat grinder.
Constantly need fresh meat because all of us current employees don’t stand a chance at surviving the onslaught by the leadership team.
Confirmed ~1054 across several depts will be impacted. Specific dept wise split numbers being discussed.