Seeing a 900 Millions allocated to severance package and stuff .. if you divide that by 175k that's average annual employee salary gives you ~5200.. I would could it somewhere 7000. That's the layoff # I am guessing. That's what ~ 15%.
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Those 600 ENGINE Indians will need to work very hard and a lot of work will need to disappear for 7,000 employees to be eliminated. I will guess 900 for this year, with a few hundred per year over the next five years. People will get notified prior to a PDC that their jobs are going away and they need to land something else or be fired. I don't think it's 2020 all over again.
Wonder if Trump will care that 20-30% of American jobs are going to India? He threatens tariffs on companies moving manufacturing out of the US, how about engineering jobs?
It will be different % cuts in different BUs because some have already been through a reorg so the ones left will have a higher percentage. Agree with the poster that offshoring will have a big impact this time. This is not just a one time with offshoring. It will be continuous. For many of us, that career path will not exist.
Haha - this is from Exxon, you guys are only 10 years late to the game.
Will they be laying off all consultants prior to cutting blue badges? Seems like HR would get involved if they don’t… correct?
One thing it won’t change is MW’s bonus.
The cuts are not only from elimination of positions, but also from relocation of jobs to lower cost regions. The number of people impacted could be more than what you derive from simple salary math based on how many positions are offshored. It is very possible that more positions are added to the GCC to replace a single US based employee. Each new international position will dilute the cost savings obtained from eliminating the US based employee.
The quote on Bloomberg related to cost cutting from MW was “We’re going to change where and how we do some of our work”
“The center in India is an example of that. That does have implications on people because we’re changing how work is done and where work is done.”