Funny that this round of layoffs was done after Sr. Leaders all told us to our faces that the layoffs were done - after being asked. I don't think anyone should believe anything they say anymore.
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After Having a full day to look back on my 16 years of service with ads and scrutinizing what I did wrong or was I done wrong as others here have stated. I say both
Ads did me wrong by putting an individual in the position of CFO who has never owned a mistake or owned when his own creation of “numbers” that put me in a position to be let go. I signed my severance and hope to never work in this industry again. Thanks Tim for all your shell games that gave me and my 3 kids a great Christmas.
Yes they are letting people go to save money AND make the company look better for a sale/merger.
It’s basic accounting. Money in. Money out. If you have X in account receivables and Y++ in operating expenses. Your valuation overall is a number.
If you can reduce some of those ++ on the Y side, well then your valuation looks better to the potential buyer.
Come apply at anthem.com
firing 10 VIP's who make 1 million each is still only saving 10 Million, to a billion dollar company that is peanuts... they are laying people off to sell the company not save money... the savings in laying off payroll is peanuts... this has bigger plans to come
I have not worked at ADS for months and months but I was a member of management for years. I worked closely with the senior leadership team across the organization. I believe they did the best they could. I do not think any of them was aware how bad this was going to get. They are people too. They are getting laid off too. They are getting blind-sided too. At this point, I don't think anyone is safe. Everyone there should start looking for jobs elsewhere. The ones who are still there aren't still there because they are bad. Perhaps they are there because they are trying to help make this horrible situation better from the inside. They are people too. They are losing peers too.
I agree it's a horrible time to let people go during the holidays. But when those individuals are getting 6-10 month severances with insurance the entire time it gives them the opportunity to enjoy the holidays with their family while being paid or get another job and get two paychecks for half a year. Now to clarify that doesn't ease the pain of getting laid off after 5-25 years with the company.
When the stock goes from $300+ (a few years ago) to below $100, the sh– will hit the fan. Institutional investors will pressure the Board to make cost cuts. Why the Board didn't make gradual cuts over the past 2 years is beyond me, instead of 2 massive layoffs the past 3 months.
I will like to know the names of the executive(s) who decided to buy back stock (after the sale of Epsilon) at $145 a share only to see the stock drop below $100. I would think those executives or Board members need to leave.
What happened to the Senior Leaders yesterday is exactly what they did to the 300+ in October. They marched to direction MM gave in October, and they got the axe yesterday. Senior Leaders who are still there don't have morales. Not sure how those people sleep at night.
ok, we know that many of the senior leaders knew. Like Erick Carter, how did he leave HR and go back to the Care Center? And Tammy, now she is the one in charge, and she has her leaders. Yes they all have Golden parachutes so the EC will be fine. It is the front line people who work so hard everyday that are impacted.
They are liars! They should have said nothing rather than to lie to our faces. That should say it all about that Company no integrity!
I agree that senior leaders may not know but as we progress down this road they should know that their jobs and our jobs are not safe. There is no job security or trust that we will not be next. Very high management is on the process I am sure they are the ones that will be shocked when their replacements walk in. It will happen. I am talking about the people in upper management talking about how much money we can save by outsourcing. only a matter of time someone on the board looks at their salary and says hmmmm
It's not senior leaders, they are the scapegoats, puppets, only doing with the EC tells them to do and say. It's the EC to blame for all of this! The EC and the Board of Directors, they are the ones that call ALL the shots! From the top down! Today was another heartbreaking day...I hate being there anymore, it's a sad sad place, and it certainly is NOT the Best Place to Work. Not when everyone is scared to death even walking in the doors each day. It will be the EC and Board that rakes in the cash no matter what happens to the rest of us! They have lied for years and now here we are!
At this point it is a numbers game. There are good and bad people at all levels. At all companies.
There is never a good time of year for this to happen but during the holidays it really hurts. Even if other companies have openings, recruiting slows down this time of year. Decision makers are taken vacation and don’t want to hire right now. So the ones let go have a more difficult time.
Chin up to all those impacted. Try to look at this as a chance to shine elsewhere.
Nothing funny about it there have been several senior leaders let go that had no clue. The have families too. Most of the leader let go today had no clue this was happening and they definitely didn't deserve it.
I don’t think the senior leaders knew they were telling an untruth. Most of them were blindsided by this too.
Did you really believe them. I am sorry but no ones job is secure at the company as long they are determined to go down this road. Even senior leadership is not. Getting rid of senior and high paid managers salaries could save a tremendous amount of money by bringing in our oversees counter parts for far less money. If this is the path they want to go down I think they are foolish to think that their jobs will remain secure. Upper management and senior leadership is easy to replace and the customers do not have to deal with the frustration of even talking with them on the phone ...so no issue with language barrier.