Thread regarding SAS Institute layoffs

For those who shared the terms of their departure, thanks so much and best of luck to you. This is valuable information for those of us waiting for the other shoe to drop.

The Forbes estimate includes all the real estate unrelated to SAS.

Doesn’t mean SAS won’t IPO, though. A public IPO may bring a higher price than a private sale.

So Forbes values Goodnight's fortune at $8.8 billion and Sall's at $4.2. Between them they own the entirety of the company, so that implies a valuation for SAS of $12 billion at the most. That's way south of the $20 billion that Goodnight wants to get from IPO and the $15-$20 billion he was trying to get out of Broadcom. Just don't see IPO happening.

But the important thing is that the wealth remain only in the hands of the company founders. And they are sticking to that “1% layoff” mantra as closely as they did
to the “2024 IPO” mantra. Until they can’t.
https://wraltechwire.com/2023/10/05/tale-of-2-empires-jim-goodnights-fortune-surges-tim-sweeneys-treasury-falls/

I posted about being offered COBRA but not using it because it was too expensive. I misread the previous comment from the other (former) employee from Education that was let go in March.

"I was also laid off in March from the Education division and got COBRA. Not sure how they determined who got COBRA and who didn’t. Too expensive to use it anyway."

I'm guessing the previous poster meant that SAS didn't pay for COBRA, not that they didn't have the option to go on COBRA. It's a law for a company the size of SAS to "offer" it.

My understanding is the 44 who got axed this summer got 6 months of COBRA paid for by SAS (as a result of a mistake by HR telling them they would get that benefit, then saying "Sorry, that was a mistake.", but ultimately then saying they would honor it since they were originally told that).

I am sensing a trend here. Health Insurance...too expensive...COBRA...too expensive...voluntary early retirement...too expensive. Bonus and raise? Too expensive?

I was also laid off in March from the Education division and got COBRA. Not sure how they determined who got COBRA and who didn’t. Too expensive to use it anyway.

Post from TheLayoff.com

I was one of the 17 laid off in Education in early March. We got no COBRA benefit and we were specifically told there would be no additional compensation for health insurance because “it was too costly”.

October will be an interesting month at SAS and on TheLayoff.

I was a tester laid off in July - I got severance according to the company policy of 4 weeks for the 1st year and 1 week for every 6 months from 2nd year up to a max of 52 weeks pay. For me it was the same as the packages they have offered the previous two times.

In addition SAS is paying for 6 months of COBRA for the folks laid off in July. That was ONLY because they made a mistake and told us they would do that. It appears that was required during the Pandemic, but the requirement ended in May 2023 when the Pandemic was officially over... however, somebody didn't update the scripts that the HR folks were given for their presentations in July. So first they told us 6 months COBRA from SAS - then said NO COBRA from SAS - then a couple of days later came back and said YES - 6 months COBRA from SAS...

"It just wouldn't do to have anyone telling the truth about SAS being rotten with bloat, nepotism and incompetence ..."

He said in a public forum that is devoted almost exclusively to people shouting that SAS is rotten with bloat, nepotism and incompetence! :)

The severance package did not include an NDA.

That is a little harsh to say.

Of course they got a package. Thats the price of silence. It just wouldn't do to have anyone telling the truth about SAS being rotten with bloat, nepotism and incompetence while they're trying to get the company acquired.

"Lol. We have people saying testers got nothing and people saying they got something similar to a retirement package. Which is it? Fake news!1!11!"

I'm not a tester, just someone else who was let go in July. 30 days paid leave, 1/2 year salary based on tenure.

So what’s the head count? How close are we to the 1% ?

Lol. We have people saying testers got nothing and people saying they got something similar to a retirement package. Which is it? Fake news!1!11!

I have heard from a reliable source that the testers let go back in July who had decades of service, got a similar package to the previous to voluntary retirement packages.

I didn't realize the testers didn't get severance. That seems really strange.

Did PSD get severance or did they get shafted like the testers did in the July layoff?

That's terrific! No more SAS PR Baloney Sandwiches!

It seems that the news media found out about the layoffs through a different channel than the SAS company spokesperson. I believe that is a first. So, very surprised it went down that way. Is there an upside for the news to get out that way? Anyone have any ideas why it went down that way?

My understanding is that a significant number of projects in that division lose money because they run out of billable hours but still have contractually obligated work to complete.

Interesting that they are going after PSD and that work will be farmed out to partners. Isn’t PSD a decent revenue generator?

All of CI PSD was cut. All work for CI is now going to Munvo..not Zencos.

Retail was mentioned on another thread as the LOB from which PSD employees were laid off.

Which LOB?

Hi, I am a technology reporter for The News & Observer in North Carolina. I'm looking to confirm any cuts made this week to the Professional Services Division at SAS. Feel free to reach me at bgordon@newsobserver.com or 919-861-1238. Anonymity can be assured.

“What did PSD do?” PSD = Professional Services Division. In-house consultants, building solutions for customers.

What did PSD do?

5 on one team, plus others. I know of people impacted in Cary, MA and FL.

I heard it was the entire retail PSD team. How big was that team? Seems like Zencos partnership is finally having the intended impact on shrinking PSD.

How many? Cary based?