We just received a email that 500 associates will be impacted.
Though they say Furlough for up to 3 months, if not longer.
They (ADP) will continue to pay for employee insurance up to 6 months.
5 replies (most recent on top)
@pmyx+151SzWVh Unfortunately, by not giving the $1,000 each wouldn't have saved their jobs.... Paperwork was filed in January with the SEC outlining layoffs for end if QTR 1. Perfect timing for the pandemic to be the excuse. Read the email again- my take on that was put in there as a ”well remember we were generous and didn't have to be” guilt trip for the rest of us to not complain about the additional work that was dumped us all. ~well some of us- others are paper pushers that could easily be eliminated to leave actual workers.
I couldn't agree more. If your reading this Carlos: lead by example, give up half of your 19 million yearly compensation and quit hurting others.
Terribly irresponsible decision by Carlos to give each employee $1000 tax free costing the company $51mm without any idea of what the pandemic will bring. Albeit generous, he could have waited to do this and 500 people would still have their jobs I am sure. I wonder how much he and the executive team gave up from their salaries, bonuses, stock options, deferred comp
etc....
Considering his comp is in the 8 figure range all in, I am sure he could give up a few million of his own money.
It's actually a combination of cuts and furloughs. Over the next few days 500 employees will receive communication that they are laid off and an additional 500 will receive communication that they are being furloughed for 30-90 days. Health benefits will be paid for by ADP for those furloughed, and those being laid off permanently will get 6 months of subsidized COBRA health benefits in the U.S.
Please don't start a new post. There are already 2 other posts with this information