From a director friend of mine tonight. They were asked today to start ranking employees for substantial layoffs coming shortly. Said he expected them to go into place in the next 30 days. So much for all that new culture message and values. The same day they get a $500M loan, they start the lay-off process, all in the name of necessary cost savings for investors. Yet, numerous articles are published in the Harvard Business Review showing how companies that do layoffs just for cost-savings, not actual combination of business functions, etc, see the worst performance on the backside. Short-sighted, short-term thinking wins again at Textron.
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Well it's pretty bad when Bell Canada asked for folks to VSP . Total of 50 took it. They expected 60 so 10 more will get the axe.
Finance has been running the show for awhile. Layoffs for sure, and even furloughs after that. Company has no true fore sight. always do more with less until those that are doing the most leave
Rankings are being made on salary employees now. Either the right thing to do, or the bean counters are going to win. Heaven forbid maybe just do another furlough a little bit instead of just saying goodbye to those who carried them through over a decade of recovery out of the last recession.
Anyone have any other info on this? Salaried employees? We are already barely staffed enough in engineering.