Sycamore is mandating a four-day commute to Deerfield starting in February, which significantly increases out-of-pocket costs for employees, especially those who commuted to OPO previously. Yet, despite 3% inflation over the past year, salaries are not being adjusted - not even to cover a basic cost-of-living increase. What a slap in the face
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They “calibrate” performance review scores before they are made official to you and downgrade scores if the total group doesn’t fit a bell curve. You are “ranked” by popularity. Managers are forced to change scores and to make up stuff up about you as partially achieving to justify the score change. They put you as low as possible and then announce the scores that will get raises. The cards are heavily stacked against you.
every few weeks they announce something new to get people to leave. It’s unfortunately nothing surprising at this point.
@f0 Seems like a troll post.
Any bonus eligible support office team members (which is probably 97% of them) will not be getting a merit increase. It does not matter your performance review score.
0.0%.
@er What's your source for that information? Or are you just guessing?
@dq They are supposed to layoff anyone that got a 2.9 and less in Jan.
@dx I’ve heard this as well. It’s easier to do layoffs if you’ve identified low performers through performance management. It provides rationale. Be prepared if you were on the target list for a reduction in your overall performance review rating.
@bd While that may be true for managers and above, for individual contributors with a 5% bonus target, the “extra bonus” doesn’t equate. Especially given future increases will be based on a lower salary
@dq I received a 3.5 (lowered like everyone else's) and didn't get a increase. Don't think they lowered scores so we wouldn't get the increase but sounds like their way of having a reason to let people go when they do another round of layoffs. Although Im not counting on my 3.5 keep me around if they need to cut costs. Definitely looking.
@dj My performance was FINE!!! My boss put a bunch of trivial things on my performance review to make it sound like I was incompetent. It was all ridiculous stuff.
If you read the other post, you will see that many people had their performance reviews dropped to 2.9 recently.
It's all a scam to avoid giving people merit increases. This company is beyond unethical.
And what is the C suite taking?
@dg Hey 2.9 is not even Satisfactory. Places I worked in the past if you were improvement needed you did not get a raise. If you don't meet the job requirements why would you think a raise is supposed to happen?
I received a 2.9 performance rating and NO merit increase for the first time in my entire career with ANY company.
I am beyond disgusted. My performance was absolutely fine. This was done to either save the rich people money or to encourage me to leave.
Trust me, I will be out of here as soon as I find another job! Such a toxic place. Pathetic.
@b0 only people that are not bonus eligible get a raise
@b7 Not disagreeing with you on your assessment of Sycamore but Walgreens "leadership" had lost its ability to stand up to the likes of Sycamore long ago. As The Wall Street Journal put it, Walgreens went from being a $100 billion healthcare company to a salvage project. Sad state of affairs.
@b0 Gotta 3. I figure “3” is the go to performance rating. With 3 just meeting standards, it gives management the option of giving zero raise or tossing out a few crumbs if they’re feeling generous. With the new found prosperity that my 2% raise affords me, I may be able to treat myself to McDonald’s 1.5 times a week if I choose my menu items wisely!
Don’t be daft lad, the bonus payout this year eclipses the gains you’d get from the usual 2% merit raise.
And the only way we’re sticking to 4 wonderful wilmot days is if total headcount gets slashed another 20% or so before Feb. Revert to 3 days otherwise. 0 expense doing that. Expanding space to accommodate current count at 4 days, let alone the same says, is too costly
Sycamore is absolute sc-m and the fact that WAG leadership didn’t stand up for us is even worse.
@an To the person who got a 2% raise, what was your Performance Rating?
@ar I work for the call center and got a 3.
@an Do you work in store or HQ? Did you get a good score?
@ae I got a 2% raise. Life-changing! Who says Sycamore doesn't care about its employees?
PE companies do not give a hoot about employees. They solely exist to make money for themselves. Period. Humans mean NOTHING. Performance means NOTHING. The only thing that matters is the BOTTOM LINE.
And they took us private so they don't have to answer to a BOD. They can be as nasty and greedy as they want and no one can stop them.
I knew things were going to get bad as soon as the whole Sycamore situation was announced. Just more horrible, selfish ultra-rich people stepping on the normal folk as usual.
@OP what a freaking joke! No support office bonuses when we’ve hit targets, working capital goals, etc.
Sycamore and the company is complete garbage and do not care about their talent.
We are setting ourselves short if expect a PE firm to do right by the people. Bring those expectation to the floor knowing that the worst is yet to come, and move accordingly.