Compny announced massive changes today.
Non-exempts will have hours reduced from 40 to 32.
Exempts will have pay cut:
CEO = 90% cut
Executive Team = 50% cut
150K+ = 30% cut
75K-150K = 20% cut
75k and below = 10% cut
CEO announced changes are so far just for the month of April but will be re-evaulated after.
As of last week, ending June 20, Realogy has laid off most of the employees it originally furloughed in the beginning of April, many of which were told that management had every intention of bringing them back, including personal emails to some from Corp CFO, Charlotte Simonelli, giving every assurance that she intended to bring them back. Many are over 40 in age and 10 - 15 years + worth of service. CEO Ryan Schneider continues to assert in town hall meetigs that he is saving jobs, while behind the scenes, he is continuing his purge of the old guard from ex-CEO Richard Smith's tenure. There is no meat left on the bone and their capacity to service their customers and franchisees has been severely diminished.
Realogy had layoffs on Friday, April 3rd in addition to furloughs and salary cuts. Have not seen reference to those layoffs in any publications or releases. Hmm!