The plunging stock today with strategy that was bound to fail with technology not delivering to the delusion of gain through shared mobility / TNC - not surprised that the earning call this morning was "repetitive" .
Q2 profit fell sharply from a year ago , $/share is down- its just down hill - expect more head counts be removed.
Refresh your resume and update your LinkedIn - there is no faith in the competency of the current leadership to deliver.
We did the pay cut thing back under MF. Probably around ‘09 or ‘10. All managers were effected. As a Station Manger at the time I think it was 5% or so. Eventually it was reinstated.
Based on what I have seen, any position in any department is fair game for the next round (except for IT). There were people in sales roles who were laid off in May, but not marketing. They have been laying off people who have been with the company 10, 15, 20+ years so pretty much no one is safe unless you were hired by the CEO. Something else that may be coming, pay cuts. In other words, you may be approached by HR and told that you can keep your job only if you take a lower salary.
I think the only depts not impacted in 2023 are Sales/Marketing so I would guess they’re probably next on the chopping block.
Does anyone know what departments are going to be effected this time?
Corporate layoffs conversation already started. September is target to execute before start of Q4, could be sooner.