I have heard that they stopped giving 'packages' to employees they terminated (maybe about last September). Can anyone confirm this? I find this hard to believe since these packages come with a legal document that you cannot sue NM, speak badly about NM or it's employee's, etc. Some might call it an incentive package - keep your mouth shut and will pay a small amount for your silence. This is going o end sometime. There will be an even larger exodus when the packages end and this actually becomes known as more than just a rumor.
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No, I am not out of touch with reality. I heard exactly what I described. It's too bad that some can't comprehend the toxic culture that was at NM and by all accounts still is.
Obviously, @12L67X7T-1swa is out of touch with reality. The recessions had a significant impact on the Milwaukee community, and in turn, impacted many employees.
There were employees released or moved to positions that involved involuntary demotions. Some positions were eliminated as the result of outsourcing services.
No one enjoyed contractors let go. However, it is not a surprise as the company has been transparent regarding the use of a contingent workforce.
Let’s not focus on the few bad apples in the crowd.
I was in a meeting with at least 2 who were both clueless and very happy to say (yes, proud) that employees were not let go because contractors were!
At that time, contractors were the flex staff. I don’t know any employee who was proud to say contractors were let go. Just like I don’t know any contractor who’s now saying their proud employees are being let go.
No, employees weren't let go there in 2008-2009. Employees were very proud to say that only contractors were let go during the recession. They had absolutely no concern contractors as people too. I was amazed when I asked didn't they know others who lost their jobs at that time - parents, siblings, neighbors? No! They were so insulated and clueless. I like to see the past 4 years of RIFs as karma. Unfortunately, there were many that didn't deserve it and the ones who maybe should have been let go were not. Life is funny that way.
Were employees let go in the 08-09 recession? I worked at NM during that time, employees were shifted to other areas of IT to fill gaps and the cuts were done by removing contractors. Ed Zore understood the value of retaining a knowledgeable and tech savvy work force.
So, anyone who worked there say 4-8 years is getting screwed even though when they took the job it was considered the place to work and retire from. I'm not saying that rewarding longetivity is wrong. But, the generous pension takes care of that. And, if you worked there long enough health insurance in retirement at reasonable premiums.
Those in the middle who weren't lifers and lost jobs in the '08-'09 recession have to start all over again.
Has this new package info. been widely circulated?
The packages will still be given. They reworked the formula such that it rewards longevity, so the multiplier for years of service was doubled while the base amount was halved. This made sense with a lower-tenured workforce which would have been rewarded a half a year's salary with not much longer tenure.
Packages are still being given but they are about half of what they previously were.