Bad News: Majority will be taken in by a local "partner" company (around 70%) - Most are MS. The said company will be taking over the teams from MS and the clients they are in. The rest will be laid off.
Good News? HUGE PAYDAY FOR EVERYONE!! Everyone will get a severance pay whether they get turned over to another company or terminated.
This has already been in the horizon for years. Ever since clients/projects started pouring in to India because of the cheap prices.
I am from TD Manila and NO we don't have "+ salary for the next two months"
our pay will stay as is, our leave credits will stay as is
our CIP is a bit better since it's a tiny bit higher
some will lose HMO benefits for their spouses because the new company's HMO provider is the same as their spouses.
it's not fun for everyone. Also, job hunting is SO MUCH HARDER NOW. If you are one of those who get laid off, severance pay won't really matter if you don't get a job in the next 3 months.
the severance pay is not even that big for most of us. Sure for managers, but for commoners like us? NO. It's small. we don't get to have an increase this year which means all the efforts we did last year during the pandemic? They are going down the trash. Short term, severance can help you, but long term? Good luck.
ALSO, You are stupid. Period.
TD India will go before Manila.
@1nvf+1ag0lYm7 Something tells me you’re American? Manila is being ravaged by COVID, so your assumption our Manila friends are smiling about losing their TD benefits is not only pathetic but very uneducated.
@1nvf+1ag0lYm7 getting laid off is never fun. Dont assume people are happy as you are. There is immense anxiety for these people specially now during a pandemic.
Theres also folks who've been in the company less than a year. The mental fatigue and anxiety of getting laid off is no smiling matter. So no, not everyone is leaving with a smile on your face.
@nta+1ag0lYm7 yeah, huge payday.
Government mandates requires them to pay 1month salary (tax free) for every year that the person stayed at the company. Most of the people on the company are the has been staying 7+ years and above. So imagine that, you get 10months salary for your 10 years stay + leave credits + salary for the next two months. They basically paid for your annual salary.
Lucky for those who are being transferred, they get this kind of money + they immediately get a job by May with the same project and client just a different management. Which they can also freely resign if they don't like how it goes. See how it's beneficial for everyone?
Whether you have an offer or being laid off. Everyone's leaving with a smile and a big fat cheque
@1yso+1ag0lYm7 no we wont go next, we're the cheapest! We will get everyones roles
India is next in the queue!!!
@OP+1ag0lYm7 "Huge PAY DAY for everyone"? They get paid in PESOS, yes, I said PESOS. If TD shuts down the Manila Office for cost savings (who they pay so cheaply anyway), that's confirmation the company's going down.
I don't know about a "huge" payday. The severances of recent have been pitiful. And being told you're being fired from one company but you can continue to do the job at another, whose benefits and pay package wont be as good, is not a good thing. Think about it. If the package is better at another company, how can they do the job and do it cheaper than if we would have kept it in house?
More work coming to India!??
I thought we were doing well coz of the rising stock prices?? Apparently not =(
You will be missed, TD Manila.