Workforce Reduction Plan that expected to cost the company $20 million to $25 million, half earmarked for international employees
https://www.sandiegouniontribune.com/business/technology/story/2019-11-18/teradata-lays-off-80-san-diego-workers-amid-ceos-departure
11 replies (most recent on top)
Severance is based on grade, not years of service. I was promoted up a grade 6 months before being RIF'd. Resulted in an additional 4 weeks severance.
Warn notice filing
11/12/2019 01/13/2020 11/18/2019 Teradata Corporation San Diego San Diego County 80 Permanent Layoffs
83 people were laid off in the Product and Technology org (R&D) across multiple locations, especially San Diego, El Segundo, and Raleigh.
Shifting OR cost $22m in contract penalties. Doesn't leave much for everyone else
$50k average cost per person (severance, admin, legal, etc...). Higher payouts as well in Europe vs US. Ballpark figure but adjust as you think is appropriate to get to estimate # of people getting laid off.
It's more than just the SD folks that were RIFd. I'm in the eastern US and was let go with a small, 1 month severance. I assume that 20-25 million amount covers lots of people that aren't making the headlines in the articles you all are reading.
Wow, $50K average severance? No wonder TD is imploding.
$25m (cost of RIF) / $50k (average severance) = 500 people impacted globally. Likely half in US and other half international
I read this as 80 people in San Diego. Not sure what you guys are reading...
Not done.
80 employees * 60 days severance 20-25 million.
It was more like hundreds with many more expected