GF gave an across the board 5% increase to L1 though L5, and a long term RSU to 6 and above. They then turn around and cut their payroll/staff by…… yep 5%.
Seems like getting the financials primed to sell the company.
@1bal
It’s not about paying out the vacation time, it’s about getting that liability off the books. Someone with a 100k salary and 3 months accrued vacation is a 25k liability that someone with the same salary but no vacation doesn’t have.
GF pays out vacation time in the end so the logic doesn’t make sense
Agree with post. This also explains why the chose big pre holiday times for this lay off as this saves lot of company money as laid workers are using time off out side of holiday ( basically using their own money that could have been easily due on GF) . Another move by TC as he treats employees as entities to drive his game and agenda.
Well done TC.
Great post. I think they definitely looked into vacation off loads while selecting candidates for layoff during recent reduction activity as this took care of load of vacation accumulations which are due on company. Next round they will target more of high salary individuals that are in high salary bracket due to experience.
Agree that this is plan for sale off.. and should be good for rest of staff as management will be cleaned up ( particularly toxic fab7 staff in AME as well as those a-s lickers that are shame to any company).
Sale off is only way to save company as this will allow to clean toxic culture and bad management.