Is cost-cutting only for lower bands? I know a Director who gave a sermon on cost-cutting and budget cuts happening across, and that's how he needed to "release" team members. After a few weeks, he got promoted with a big pay increase. So then, is it that no more budget issues for his team? I am seeing several promotions and pay increases for Band 5/6 and above. If the company is in such a budget-cutting mode, how come all senior levels are getting pay increases and promotions recently?
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Multiple directors have had their job eliminated too. As well as some PEs, who are director-level individual contributors.
I don't know the details as to the "why", so I can only guess. Maybe they were seen as redundant? Maybe they weren't on board with the 30/70? Or maybe they just had to pick someone to eliminate to make room for directories in HIH?
K-shaped economy
Cost cutting my a-s. The leaders in the pharmacies take weekly day trips to have lunch in NYC and other frivolous trips. Private plane trips. The worse part is we believe the cost cutting bs. Don’t let them fool you. They are cutting jobs here to reach their 70% goal in HIH.
A senior director had categorically said this to me , if you want your boss to be promoted or keep your job . you need to hire in HIH .
It’s called a circlej--k