Yesterday I heard another ER announcement was going to be made. Now that it's out. The Amplify article is straight corporate spin
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@b5 this is true. I work with some of our India contractors now. The amount of mistake I find and half a$$ed work… no one cares. The clients will though.
Good. Sell the firm. We’re no different than others and no reason to be a private partnership.
@b5 that’s cuz she ages out in a few years and she don’t care. She didn’t make $30 milly this year bro so yall gon get replaced cuz she finna cash out.
@b2 judging by other areas, it's about 2.5 - 3 contractors per US associate. They work 10 hr days, but still half a$$ the work and mess up stuff left and right. I swear we dont vet these people and we dont care. Cheap labor is apparently the end all be all for penny and her gang of morally bankrupt parasites. Can't wait for the next townhall where she comes out dressed like a circus clown and tries to sell this tu-d to us a major win.
Prepare for a majority of home office jobs to be transferred to India in a couple of years. Start preparing that resume. Once they realize they can just hire 2 Indian people for 1/5 cost of a regular Associate, layoffs will commence.
Where are all these rich a$$holes gonna ride off to after they have extracted as much money as possible? This is more than just EDJ; it's happening everywhere and in our government too lol. Seems kind of short sighted. How are the rich pigs gonna survive when the layers below them collapse? Or do they literally just want us to die off?
@a8 They wont be given the same perks as us. Instead, they will be given enough Rupee to purchase and EDJ baseball hat and keychain at the EDJ store to show partnership and culture...because we are human based.
@ag unfortunately I think that was part of "cascade 1". Get rid of any would be partners who were not 100% onboard with the "transformation". Then penny added the new rule of having over 50% GP approval before making any moves to merge or go public. Of course this was said 8 seconds after she said the company has no intention of ever going public, but let's put this new rule in place. You would have to be blind AF at this point to not see what they are doing on the chess board right now. There will not be an EDJ (as we know it) by the time penny leaves. We will not be a limited partnership owned by the employees. This place is being dressed up to go public or be bought out.
@ag They're probably too greedy and cheap to (I mean poor Penny's compensation went down from $29M to $28M in the layoff year, so gee golly heavens!)... but if they ever offer another VSP and I qualify, I'm going to.
I'm done with these human parasites.
They gaslight so much with their word choices. "This is not a near-term cost-reduction action".
Okay (if true, and it's not)... maybe our "costs" on the top line overall won't go down, but you're intentionally seeking cost savings on "human capital", so that you can re-distribute it other places. This sends the message that the product output and quality of associates matter less or you're so deluded that you think you can get the same/more for less cost but more bodies.
If this firm survives the PP, Chubak, Malik, and KJ era... any leader that isn't self-focused, greedy, and has an actual strategic eye will reverse this.
@ad not sure how Canada and US differ re bonus, LP, etc. I imagine India associates would be similar to Canada ones from a benefit standpoint. Cost of living is cheaper in India overall for everyday things is my understanding from Indians I’ve worked with. So yes they will get paid less but would think other benefits would be similar.
@a6 no way we spend anymore money on them than we have to. This company is run by morally bankrupt people with zero regard anyone working here. They will pay these people the cheap indian wages, but just give them a title of "associate" instead of contractor. No way in he-l we are going to pay out bonuses to thousands of extra people added to the roster.
@a8 It's for legal reasons. Now we don't have to have US based GPs taking trips over to the vendors. It will be our own "home office" therefore we have a loophole around some of the legal issues we have using contractors. Don't worry though, we will still pay them hardly anything and this will open the door for even more offshoring. I highly doubt they will get LP offers too.
I’m wondering what the plan is here. Will employees in India be offered limited partnership as well? I can’t tell if this is meant to work around regulations related to contractors and sensitive data, but something about it doesn’t add up.
@a3 they will be associates so yes of course they will have a bonus, profit sharing, etc.
@OP
Will these folks be included in our bonus pool? What else is next....I wish they would give me a severance and send me on my way. I feel like a fool for giving them 21 years of my life
“Human capital” is just cheaper in India 🇮🇳 . Need to extract as much wealth as possible!