Well, the automation solutions group got an email from Jon Stokes this morning saying that all salaried employees will be furloughed for one week without pay in July. Both exempt and non exempt employees. He said this move should save the company $30 million. Also in the email, it said if things don't improve to expect another furlough in August or more layoffs. All furloughs dates must be selected by July 1 and completed by July 25.
Furloghing the employees to save the company money, but we can file for unemployment for the week.
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Are the DeltaV people aware they don't have a great product? Seems like a lot of stress for those people to be carrying! Are they being laid off too??
Unemployment holds back the first weeks payout so the people will still be hurting.
I am surprised you are still a shareholder. DE Shaw had made their money, so they are no longer actively pushing for change. Exclusive country club memberships is not going to change. They the executive take care of their own kind. They are not going to rip this benefit away just like they are not going to get rid of the plane.
The cow is being milked!!!
This place is such a political, archaic clusterf*k. As a shareholder, I lack any confidence in a business that wastes money on country club memberships. How about get your sht together and run the business first id–ts. DE Shaw needs to ride Farr longer & harder.
One can dream about having the Porsche ripped out of Ram’s greedy little hands.
500 executives enjoy country club memberships and fully maintained vehicle. You think they will get rid of benefits that they enjoy?
Internally the golf memberships are becoming harder to justify. There has been talk about getting rid of them plus DE Shaw is still riding Farr.
‘Treacherous management looted the company and misgoverned the organization for decades’
Yes they do loot the company. In Houston, 20 execs are members of the most exclusive golf club, paying 40k each as initiation fees and 1k each every month.
No, its just on US soil.
What id–t would want Pi (OsiSoft)? Its out of control......
US employees only, field sales exempt.
They are furloughing employees and at the same time going after another company to buy (OSIsoft). Bloomberg reported this week. They can’t manage the businesses they run now. Who is going to run this?
I hope the “only Delta V can save us” is a joke
Funny how they furlough instead of reducing buybacks the dividend. Just goes to show what management really thinks of the peasants. Protect the dividend at all costs!
Only DeltaV can save Emerson now.
Is it for all automation solution worldwide?
Treacherous management looted the company and misgoverned the organization for decades ...Now are asking to furlough....please just sack the top three layers to go home immediately without compensation and you have saved the company .. anti customer organization no where in the world you can see... here it is called Emerson