contractors paid more then FTEs for same work ? any company will retain their FTEs and lay off contractors for any scenario!!
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@OP we are not paid more. As FTS, we get no holiday pay, vacation, company match or profit sharing. We have to take the same trainings as you. We do exactly the same thing as FTE's but do not receive the benefits. Principal level engineers make a higher hourly rate before benefits than we do. We're the people at the bottom level of the Titanic. They would keep us before letting go FTE's because overall, we are cheaper to them.
I’m a fte fidelity employee and my group hasn’t gotten raises in 3 years. Stop crying if you’re FTS
it was the role that was eliminated, not the type of employee you were. If you were in the role as a contractor, you got whacked.
60% of the folks in my area that were let go were contractors. So it looks like it depends on where you are.
There were not a lot of contractors in the SL, GSL, and PAL roles and those were the ones specifically targeted by this. SM contractors got hit pretty hard and Dev in my chapter were 50%
@OP I was retained while contracting at FIDO during a large tech layoff in 2008. (At the time it was veritude) a few months later they cut our hourly pay. I was fortunate because my manager recommended a pay raise a few months later and I got back to my old rate then some. But it was quite awkward and the employees around me treated me kindly despite feeling bad for the folks let go.
Contractors were safe and lot were renewed
Also no PTO, terrible health benefits, no bonus, no raise like none year after year. Fidelity Talent Source su-ks!! It’s gross how sh---y they treat people. Not even sure it’s legal.
I know this is not what you want to hear but benefits for a FTE almost always outweighs contractor pay. I had two contractors on my team with 20 years experience in the same group. and not one single raise for either of them. Twenty years no benefits, no bonus, no paid time off.
you may look at the hourly rate on paper, but ultimately they are left with the short end of the stick. Let’s be fair, there are so many of them because they have never been eligible for the VBOs.
It’s so easy to beat up on the remaining contractors, i get it trust me. But at the end of the day, it’s not a walk in the park for them once the FTEs are gone. And it wasn’t easy for them before that either.