I keep hearing it's going to be at least 500 people laid off next year. What are people hearing?
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@8tns+1pTrMwuY Yes plus 2 additional weeks per year of service, with a maximum of 52 weeks.
I thought nm severance was 13 weeks
2024 is going to see a lot of job reclassifications and such. Which shouldn't be threatening, and is actually something welcome. Right now NM has a ton of relatively archaic mix of job descriptions and roles, that aren't congruent necessarily on where the industry and company have shifted. So 2024 will see a lot of job titles and position descriptions go into review, with many seeing modifications. Could there be layoffs associated with some people proving to be square pegs that can't fit into the new round holes. Yes, but that's probably only going to be on the margin. For most, it will be an opportunity at career advancement and building a better and more diversified skill set as they seek to apply and fill the new roles.
I guess it's better than a few years back when I lost my job at Thanksgiving. Though I had until 11/30, my boss wanted me gone by the week of Thanksgiving.
There is life after NM. Thanksgiving is still my favorite holiday. Added to it now is the huge severance package, 11 month bonus and health insurance subsidy granted. It tool me over the limit for social security wages the following year because I was smart enough not to sign the severance agreement right away and postponed that income until the next year. HR was astonished at all of the questions I asked to make sure I was protected.
By the way, right after the new year (why spoil my holidays) I applied for a job and got a response and interview the first day. I was back working by the end of January before I even received my unemployment checks.
I retired permanently 16 months later after y mortgage was paid.
There is no reason to let NM derail your plans.
@7xmn+1pTrMwuY You are on the list.
I’m a SVP/ELG, I can report that everything you read on this site is pretty much correct. 10 percent names are in prior to Thanksgiving, they are avoiding the holidays. Seconded week of January notifications go out to employees hearing less than the 4 weeks that people are let go. No fear mongering providing information the company is hiding from the hardworking employees.
I’m a VP and I can report that everything you read on this site is fear-mongering and total BS
I heard the 10% layoffs in 2024 will be focused on reducing mid level mgmt like associate dir, senior dir etc. The floor is filled with directors!!!!
As a Senior Director I can tell you the number bandied about is roughly 10%. Which isn't a great big secret either. 2024 will see a big wave of job reclassifications and such as NM attempts to line up job titles, role and responsibilities to today's realities of the business. Which is actually a good thing. Why operate with a lot of outdated dinosaur job titles and functions...get nimble and adaptive. And in the process provide people with development opportunities and promotional opportunities. The 10% that fall by the wayside will be square pegs that simply couldn't fit into the new round holes.
I have not heard any specific numbers, just that the company is going to start considering people's "flexibility" when it comes to applying their skills to projects - the company wants to start to be able to move people between projects quite rapidly. For example, C# developers who do not learn Node.js are likely on the chopping block.
One rumor was 10% which is about 750 people.
Out of curiousity and my own wellbeing, does anyone know how many layoffs were in 2023? I was lucky enough to avoid that wave of layoffs but who knows for next year..