Hearing that there's been some stealth layoffs in ETX lately. Small changes to get rid of people working on something right before a change in strategy or focus. Lot of changes recently.....none of it publicly announced.
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The fundamental principle is your job at MM, as in any other Company in the U.S, is at-will. It means the employer can terminate you for any reason or no reason at all, except on protected grounds such as age, race etc. So you shd be realistic and deal with the layoff or better still prepare for the layoff before it actually happens. There is no sense in feeling betrayed as the employer does not owe you life-long employment, and that is just the fact. You owe it to yourself to always be prepared to find the next career opportunity shd you be terminated. Nobody is indispensable in capitalist model. Just stating the facts here.
@14r I wonder... I wouldn't say fine per se. It really depends on your job title and what a person wants to do in their next role. I think everyone should worry and plan.
You’re wrong. See you in December for a review of what you “know for a fact”.
Anyone in Boston or New York in a tech role will be fine. Springfield people are the ones who have to worry. Most people I know from previous layoff rounds in the major cities found jobs easier than people laid off in Springfield.
@yh
And this is exactly why I wrote that mm employees should have already updated that resume. You should be looking for new opportunities elsewhere now.
I also want to add: look beyond linkedin and traditional places. Think outside the box if you are under the Tech umbrella. You will have to, in order to get a new job. Also look to see which companies are hiring and what the expectations are to have in that role and learn those skills while you have time. Its easier to get a new job when you are still working that job. You owe it to yourself to be prepared, make a plan, be executing it. No one is safe no matter how high they think they are, no one is safe no matter how long you worked there.
70% of ETX is already offshore. I know for certain that there are no more big layoffs in 2025 for ETX.
The second half of the year is going to focus on layoffs in Operations. Then other areas.
Once some of the big projects go live, they’re cutting roles in Operations. It’ll be in the fall like it was in 2024. Look at the projects that are focused on modernization, automation, and AI. They’re supporting work for Ops and other areas and the goals are reduced headcount and offshoring for the rest of the company.
80% of US ETX will be gone in 18-24 months, using many small actions. Like poker, if you don't know who the mark at the table is, then YOU are the mark. Agree with the other comments that if you aren’t preparing for your layoff, that’s on you. The future is obvious.
The place is covering up for poor performance. The synthetic stock price has lost half its value yet the dividend climbs ever higher. How can that happen? Hint: it can’t.
@r3 I echo your comment and many others.
If you have been paying attention these past 4-5 years or more, your resume has been updated and you've probably looked around to see what's out there and may even apply to jobs.
If you haven't done so already, you are letting MM get the one up on you.
Where do we go from here? Change your mindset. MM is just another company. You can be hired elsewhere and will. All it takes is for you to do the work before being laid off. No need to fear or live with anxiety, get in control of your life and career, and leave this place behind you. I understand many want to stay to get their full benefits. But there is no guarantee that you will get them. Reminder, they do not care about you at all. They care to look profitable publicly and if it means you and many others do not work here. Then you and many other do not work here anymore. Update your resume today, apply if you want or feel you should. Its ok to move on, its ok to not work here.
This has been going on since January. It’s quiet from leadership, but is very apparent how much has already shifted to MMI. I’m sure think they will be automating the rest of the company as much as possible now, but good luck with that. We’re going to see this all year, plus leadership coming in and out like crazy. They won’t ever acknowledge the impact and scale. They’ll keep laying off in small batches to keep it from alerting public attention and save face as much as possible.
We’ve seen people that were let go that we never saw coming. Tenured, close to retirement, so much knowledge, incredible workers and people who trusted this company with their livelihood. Nobody’s job is safe, and if you think you are, you’re probably the least safe. This isn’t new and it’s not over. They’ve said it all without having to say a thing, relaying on current events as a distraction.
It's not a matter of if you get laid off from ETX, it's a matter of when. Unless you are part of the inner circle or special interest groups who are protected, everyone is expendable. If you are a lifer and bought your house for cheap out in western mass 20+ years ago and you're still somehow not prepared for this I don't know what to tell you. You've had to have see this script play out over and over again. They've paid above average for most of the tech roles for that area so I hope you've been saving and ready to get back in the workforce likely doing something else as the tech industry has move way beyond what MM has. It's a sad reality and not fair it's just the way it is.
would you be willing to share the job titles of those "stealthily laid off"?
No, this one is about stopping some current projects at all locations and moving it to vendors to own instead. there’s a decrease in what’s built in MM US/Romania/India and increase in paying $$$$ for contracts with tech companies and only having MM workers be IT support
change in strategy, aka moving all tech jobs to Romania/India.