I’m remote, and honestly terrified we’ll be among the first on the chopping block. If anyone has credible information, please share. There are so many rumors flying around - mass layoffs, HQ-only cuts, even a possible private equity acquisition. It’s hard to tell what’s real, and even harder not to expect something bigger lurking around the corner that could hit us all hard.
16 replies (most recent on top)
@OP I heard a rumor that you can figure out if you're about to be laid off by looking at the timesheet for the week of November 3rd to 7th. Apparently, if you can't submit your timesheet during that week, it might mean you're at risk of being let go. I'm not sure how accurate this is.
@e7 yeah consulting firms don’t care about holidays, internal events or your feelings. If you’re right then maybe they wait until the 28th like others have been saying.
It’s BCG this time
@eg It’s never good sign when they bring in a consulting firm. They used McKinsey for the 2015 layoff.
@eg which parts of the organization do you hear have the most redundancy?
@g1 office days are a joke especially when your “leader” lives 1,600 miles away. RTO is how the herd will be thinned.
Can someone explain other than appease outdated thinking investors how RTO save's money? Some of the staff that are remote are in geographical areas outside of Minneapolis bringing with them diversity in thought and culture. Are leadership using RTO to lay people off then blame them for not wanting to relocate? If yes than that’s cowardly!
Aren't most L6s individual contributors, outside of IM? I agree there is a lot of bloat at the L6 level in certain areas.
@eg do you have a reliable source on this? I know there have been rumblings and it wouldn’t surprise me, but I also remember them talking about an announcement in October during target together that they assured us “wasn’t bad”. Wondering if there’s any chance this could be part of that.
It's definitely not a PE takeover. For a company the size of Target, that sort of deal would be much, much larger than the recent Electronic Arts deal and that took over a year to complete and required multiple government interventions to help move it over the finish line.
The most knowledgeable people I've talked to have said somewhere between the 20th and 28th, 10-15% of HQ will get laid off. This will focus on people and roles that Accenture have deemed redundant to others in the company. There will also be a large number of L6 middle managers let go and probably some higher priced L6 TMs. It will include both the US and TII. They'll more than likely be given 60-day garden leave so there are no WARN announcements needed.
Diwali is on the 20th. Demo Days is the 21st. Really don't see this as plausible.
@aa I am surprised that they even offered relocation assistance to those who were remote considering how stingy the company has been lately (ie: severance).
@OP the PE buyout offer was only for part of the business and it was declined to my knowledge, so I wouldn’t worry about that (yet). Unfortunately, I think they are going to have to change their choice for new CEO and force Brian out before Wall Street is going to move on stock prices, which will mean more layoffs. I’m watching all of this ridiculous decision making from the sidelines now because I was affected by a layoff in Q2. I’m truly sorry for anyone who is dealing with this stress. Hang in there.
@a8 there were a lot of people in product development that were told they had to RTO. They were offered 60 days with relocation assistance, but if they didn’t RTO it was considered resigning with no severance offered.
Not OP, but there have been cases of remote workers being asked to relocate to MN. It seems to be dependent on department. There was a Linkedin post from a former TM that went somewhat viral recently who was remote and taking care of a family member and was fired for not relocating. This individual was in tech.
Considering you are remote, have you been asked to move to MN? Or do you know of anyone remote who has been asked to move? And yes... I can empathize with you. It's very stressful I am sure.