There are two plans. One is to demote individual contributor band 4's to band 3's, reducing the MIP bonus dollars. The other is to prepare for the coming recession (the one that Wall Street has been saying for the past 2 years is imminent). That one will cut 10% equivalent of the workforce, based on salaries for support personnel (non-production). If you are waiting for a package, this may be your chance.
Can anybody shed more light on this?
$1.8B in stock buybacks while cutting heads..... priceless!
The "de-banding" is correct. Our wise leadership decided that the best ever Aero results ended up in too much MIP being paid. Therefore, this year we should do even more with less. I know in my group many Director roles were re-hired as Sr. Managers, Sr Managers as Managers, and Managers as Sr. Specialists. I heard something about a goal of 500 Director reductions. They should look at Strategic Marketing.... I could throw a stone and skip it off 10 Sr. Directors heads- and no one really knows what they do or what quantifiable output they provide.
Total BS. You are assuming a strategic look ahead that only happens every seven years or so... that trigger was pulled when DA said "we are a software company" and "we have too large a footprint". Everything else flows from those two statements plus the individual need to prove ROI every 12 months in HPD . Simple as that. No conspiracies required.
Good time for a package? maybe... lots of sites to shutdown.