When there are rounds of RIF or shutting down the operations in a country, are there reasons given out? Has this happened outside of US and Ireland? Talking about India or Philippines . It's sad the leaders just hide when there are people being laid off
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Simple formula: Am I going to get my bonus?. If no, easy button (RIF). The decisions are short term and focused on executive incentives which align to shareholder incentives. Long term implications are a next quarter concern.
@aa+1jr02awc0 ..... falling stock prices is definitely NOT the reason for the RIF. Wake up. GBD revenue is down because of Stars, Medicaid and other government cuts. It has nothing to do with our stock.
For those of us who have been here a while, there was a long period where our stock climbed and climbed and there were still RIFs.
“Your position has been eliminated…due to loss of business…staffing adjustments…blah blah blah…”
It’s to meet the EPS that was promised, that’s the only way they can do it without increasing our business.
What they are doing is literally TREASON.
This is illegal, and Americans should all be insisting that the people responsible for this be held accountable for this illegal activity!
"treason /trē′zən/
noun
The betrayal of allegiance toward one's own country, especially by committing hostile acts against it or aiding its enemies in committing such acts.
The betrayal of someone's trust or confidence.
The offense of attempting to overthrow the government of the state to which the offender owes allegiance, or of betraying the state into the hands of a foreign power; disloyalty; treachery.
Similar: disloyalty treachery
The American Heritage® Dictionary of the English Language, 5th Edition"
Here is the reason and it’s simple. Gail and her cronies are looking for one last ride in the sunset before they all jump ship. They are going to drive up the stock price and could care less about the long term impact of any decision they’re making. All while the spineless staff VPs and VPs continue to march to their orders and drink the kool aid.
The “reason” is to reduce operating costs. RIFs are way more likely to happen when the stock price is down. When it consistently starting falling below $500 awhile back and staying there, that’s when the widespread RIFs started happening.