Good luck all
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Is there any new updates here ? It looks like the company is stable now. But because of the consequences of what they did last year, I still see many talented people leaving the company every month!
Good News !!! There are 5000 people who have got together and processed necessary paperwork for lawsuit and also SEC has launched investigation on the fraudulent financial reporting from last year
To all the employees who were furloughed in 2020 working for Aptiv, there is a group of employees who are proceeding to file a law suit for illegally forcing employees to take furlough and claim unemployment pay from federal and state government. There is a part of lawsuit which claims Aptiv didn't pay employee benefits like 401k match etc but paid management and leadership hefty bonusses at the end of the year. Ask around and see there are already 400+ employees who have signed
Our latest analyst data shows that the future payout ratio of the company is expected to drop to 12% over the next three years. However, Aptiv's future ROE is expected to decline to 16% despite the expected decline in its payout ratio. We infer that there could be other factors that could be steering the foreseen decline in the company's ROE
Aptiv's EBIT fell a jaw-dropping 53% in the last twelve months, They have $3 billion of debt and less than half of cash on hand... It is getting risky every day
Any word on percentage overall? Severance? Timing?
Unfortunately Yes Pittsburgh, Augora hills and other locations will be impacted as well. All the smart, experienced and knowledgeable people went to Motional and or left the company
Are there going to be job losses in Aptiv Pittsburgh?
This seems like to be coming out in press in one week or so
There is loss of 18% in revenue in 2020, to maintain good PE ratio the only thing leaderhip has thought is layoff or go for bankruptcy
I dont see Aptiv situation to be that bad other than rumors here. There were project losses, but such a huge headcount reduction doesnt look realistic.
Troy offices will have 30% of employees laid off by end of 1st quarter 2021
Just heard that reduction in workforce is around 35%. Three very big OEMs are frustrated and tired of working with Aptiv due to extremely poor customer support and leadership's lies
Are there an layoffs planned in troy?
Is the CEO getting fired ?
I heard rumors of filling for bankruptcy in 2-3 weeks due to huge losses
It is gut wrenching to hear the stories of the employees of this company, I heard they fired one of the Vice Presidents and planning to fire more in next couple of weeks. There are also rumors of this company filing for bankruptcy in mid December due to financial fraud
They are laying off more people with high pay rates so that they have less operating income in turn giving more positive cash flow. Based on internal data looks like they are doing it so the board members and CEO get more incentives and bonusses
Currently layoffs ongoing in Germany due to stressed situation although Q3/2020 results were positive.
Source:
https://ir.aptiv.com/investors/press-releases/press-release-details/2020/Aptiv-Reports-Third-Quarter-2020-Financial-Results/default.aspx
Is there any layoffs plans in troy?
Aptiv is loosing more projects than ever
I heard Aptiv is laying of 15000 people by dec 2020 due to loss of multiple customer projects
How aptiv is doing? layoffs/ furlough still going on?
Yes....layoffs done this week for salaried..however, they will be on payroll till july 15th..
is layoff started?
Some layoffs this week...?.confirmed
I heard from a friend, furlough is done by rotation by department. Is that correct? Or just furlough for all employees in general
Aptiv: Furlough (unpaid) two weeks of every month, April through July. Then, it may continue. Also, no 401k matching from April though the end of 2020.
Apparently furlough still continuing..not a good sign....are more permanent layoffs coming..?...who needs autonomous driving needs.....make it driving these days...
any update on Aptive furloughs or layoffs?
They over-layoff'ed as well in the last 8 months...
They over hired in the last 8 months...direct job offer to a friend of mine as a manager..ridicluous