One rumor was May 5, anyone have a good source one way or the other?
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@ed TOTALLY agree and those few that sc--wed it up for the rest of us are the 1-2 yrs in phone reps, who now get rewarded by MORE WFH TIME, being remote three weeks a month. I no longer have any flexibility, but the newbies who cry about outages (really just call avoidance) get to sit at home. Good luck to their managers who are going to have to REALLY deal with the behavior now, since their bonus will depend on it.
Also, the whole “being onsite builds community” is cr-p. You can network without playing ping pong in the cafe. That’s not a good enough reason for me to disrupt my schedule, again.
@gm - the autoflush toilets and the water saving faucets are the worst! Every time I take a sh1t I am reminded that Abby is micromanaging me even when I go to the bathroom.
Who cares where people work as long as the work gets done well?
Many people work better without having to hot-desk and awkwardly carry all their stuff in, only to find they don’t have the monitor they need, the mouse they like, the snacks they want, or even an open window. Not to mention the social pressure of an open-concept office, the super annoying person you sit next to, or toilets that constantly auto-flush while you’re using them. Plus, folks are already stressed out and burnt out from driving or commuting to the office. And forget about work-life balance—that eats up your whole day.
I mean, I guess if you’re a billionaire, you can just hire “help” to drive you, fold your clothes, make your meals, and take care of your elderly family members.
This policy just f*cks anyone who has a life or responsibilities outside of work. Fid-Daddy doesn’t care if you do good work—they literally just want you to take up space in an office building so they can get a write-off.
And people who already have tons of money can just walk away from this hellscape. The rest of working people—those who need money and weren’t born into wealth—just have to deal with the whims of some jackasses at the top.
Good on young people for not tolerating the pointless BS and going home midday.
The office su-ks and is pointless!!
It would be awesome if everyone just walked out or worked remotely every day in protest. #Sc--wFidDaddy
we no longer need the needful nowadays
Hope a closer look at the workforce this time around makes Abby realize that her biggest failure is to have her family company occupied. Those incompetent L1/L2's who must depend on those occupiers need to be held accountable.
eliminating H1B should take care of alot of space issues in the RI buildings. Sometimes I forget what country I live in.
@df only if they come back, and you don’t go dark for 3 hours. The few are ki-ling it for the many. HR is saying that this was always the plan, it became the plan with Abby heard about people abusing the work from home.
@bp what would happen to the ri campus?
@d0 Wealth in 2024 hit their SMs and a few CLs. More SLs, GSLs, PALs, and GCLs, CLs will be impacted this time. Fewer SMs - low performers and over leveled (directors and VPs)
@bp Can confirm that during 2024 RIF, IPs & SP-Low were let go. And it didn't happen on first Tuesday..
@bp if younger people “disappear in the middle of the day” isn’t that customarily called lunch?
My department was laid off once and the skip level delivered the news. He said it was his decision so he was the one people should be mad at. The managers were really obvious about it for a few weeks before it happened.
@bp what about for Wealth? We got rid of SL, CL, etc. a year ago. Hopefully changes coming to Wealth too.
In the 2024 RIF, managers were told on Monday afternoon and delivered message on Thursday morning before noon.
@bw I don’t know specific dates. I know that there are some BUs struggling to finalize their org charts and it is pi----g off Abbey - she expected this to be done by now.
I would expect this to be a slow burn - some announcements might be next week, but it will go for a few weeks. Plus depending on the number of people and roles being let go, they have to notify the state about the layoff. I would expect most of the news to break before the end of May.
@bv During the end of year conversations with managers there are “hidden” levels. SP+, SP, SP- … these come into play specifically for bonuses to create separation for the excellent associates vs the time clock punchers.
One of the big changes that they are looking for is “Doing more with less” which means they will be doubling down on weeding out the mid and low performers. There was a shares split this year which puts more shares in the pool for distribution to top performers to encourage them to stay through all of this change.
@c5 Depends on the BU - as far as the RIF goes. Typically, HR will provide the managers with a list of names, they will get “training” and talking points and be given a specific date to delivery the communications by. I have not seen this happen in less than a week… Meaning the HR message happens and then it is go time for the manager. For RIFs… Org changes tend to be the slower roll out.
@c3 I would expect that the Commercialization or Non-Delivery roles will be realigned to the new working model, I have not heard anything specific about RIF or demotions. One of the umbrellas that I have seen in presentations is the desire to not have individual contributor VPs - that might effect the non-delivery roles
Everything here is fake. The more scared people are the more they work. Make sire everyone is paranoid right before summer when so many in the company start slacking off. (;
@bp What about site strategy for non-tech aligned roles? Seems like the push to having people in the same site is much broader so far, definitely in wealth, but hasn’t hit WI or other BUs yet
@bw my manager told us they were given talking points last week that couldn’t be shared until this week so I am still thinking it’s coming soon. At least the job title changes and RIF.
Thanks for helping us understand the agile model. What about groups that were in the BME model. Those commercialization teams and strategy teams in a product area. Anyone have news on them? Their role titles aren’t aligned to Spotify titles
@bv SP- not SP, which is the lower tier within SP. this rating is not visible to individuals
Wonder if they will use this opportunity to remove the folks with connect week attendance/coffee badging habits
@bp so no rif announcements until June?
@bp wouldn’t the majority of people have SP for their review? Wouldn’t be surprised to see that IP would be included but SP seems like it would be 95% of a role which is scary.
The RTO and the Reorg/RIF are two separate strategies.
The Reorg/RIF was supposed to be complete back in January but some BUs dragged their feet in understanding what was happening. The roles “targeted” are PAL, CAL, GSL, SL, GCL, CL, and SM (Spotify Agile Framework roles). The non-technical or Product side of those roles will be hit the hardest (30-40%). WI SM roles will be hit hard (50%) because they missed significant impact in 2024.
The roles are also changing, there have been skill assessments done for all of the Product and Technology roles and those that don’t have the future skills will be part of the RIF - also those with SP- or IP performance in 2025 will be part of RIF. Many of the SLs at the VP level will be demoted to Director. CL VPs will be assessed by the number of direct reports and role skills and case by case will be demoted to Director. “Program Managers” (every BU calls them something different) will be caped at the Director Level - they want to get away from Individual Contributor VPs - current VPs will be demoted. On the most part HR in each BU is making these cuts and the managers and L2s are not getting a say.
The timing is still a moving target - but there is an expectation that the new org charts will be settled by July 1st.
Don’t buy into the first Tuesday myth - 2024 happened on a second Wednesday/Thursday.
RTO - This is all about culture. They are going to be realigning teams with a site-strategy to make face-to-face teams more of the normal - there will still be tech in India/Ireland but the bulk of teams will be on the same site. Similar to pre-covid teams. There is a feeling that too many of the new associates are not adopting the Fidelity Culture because they are not engaging during connect weeks - there are also a bunch of younger associates that disappear in the middle of the day and it came to the attention of management/HR.
There is also rumor that FREC is looking for new Home Office sites in Florida - the Rhode Island office is becoming too expensive and they are not pleased with the quality of technical associates coming from the local universities. There is also word that Fidelity will no longer be sponsoring H1B Visas they are becoming too expensive.
@bc my guess is the RIF is not going to be massive. It will be a huge personal impact to those targeted, but a blip for the company as a whole.
Anyone have a theory on why they’d do 100% RTO and massive layoffs at essentially the same time (within a week)? Like why not see which VP+ people managers quit because of mandatory 100% RTO and then do a more surgical RIF. This seems incredibly chaotic because you RIF without knowing who’s just gonna quit anyway so you’re spending money you don’t need to spend and without a real good idea of who’s still here in Sept. Right??
Historically they happen on the first Tuesday of the month, so 5/5 tracks.