Recently, someone posted here (https://www.thelayoff.com/t/1pA9Mgjq):
"I hope you've saved some money. Within the next 3 weeks you will see another round of terminations. Please forgive me for not including more details"
By the end of this week, we'll be almost at that 3 week mark. Does anyone have any updates here? Or was this just something posted to scare people?
It's gonna happen next week... Godspeed.
Any updates if this is happening?
Layoff all the bottom feeders who make 100k+. For every 10 that’s 1million
Post ID: @3gez+1pNbC8Lz, Please remind us once again who "They" ( the ones issuing the poll) are?
After all, aren't "They" the same ones who'd contributed to the spiraling downfall of this otherwise once thriving business?!?
So, what do "They" know about much of anything, that could fit on an .90c stamp?
They should take a poll of everyone with bad attitudes and can them. Keep the people who want to grow and make the company flourish rather than miserable under-performers coasting bye
So many good people have been let go, likely more strong people to leave soon. Yet so many underperforming individuals retained. Funny how that works.
SVP, any updates?
No bonuses happening this year. Or career pathing.
I seriously doubt anyone is getting a 2023 bonus either way.
Don’t forget, laying people off before the end of the year also saves bonus payouts for them. My opinion, expect just that.
Let's all be realistic for a moment all and realise that to c-suite, people are not people, just numbers. Anyone who believes that there is care and loyalty is living in the past. The working world today is no longer about rewarding good, loyal employees but rather trying to spend as little as possible. Yes you might have a manager or head of dept that truly cares but at the end of the day caring won't get you the salary you deserve or save you from being cut when some rich shmuck (read Chip) tanks his own company and then bails/gets kicked out. Buying EdX was 800 million dollars of fail and Chip's big di-k energy ruined many lives in the company. Do you think he's suffering at all? Nope, just living life big and moving onto the next big venture. I mean the man even had the audacity to post on socials of him on his fancy yacht when the first layoffs happened.
Anyways, most of us just ride the storm until we get cut or get a better offer. While the top brass focuses on their riches, many of us focus on keeping ourselves and our families fed and healthy the best we can. Strength to all that get completely shafted in the coming weeks/months/years and I hope they/we manage to find our feet once the dust settles.
Don’t read too much into it- wasn’t trying to be mysterious. Just that there are a lot of approaches to the challenges and layoffs would only be a repeat of something already done a few times. Paul has been CEO for 2 weeks, one of them a holiday week. He’s just able to get his full exec team together now. I hope they do come up with a lot better than layoffs (even if some layoffs still happen) - bc better is needed. The key is we finally have a CEO willing to face the issues that got us here- not just bandaid and with savings by cutting staff and saying everything is great (!!). I realize it’s scary and really and truly do not know re layoffs. But as per the timing I noted above, I would highly doubt ANYONE does at this point- that’s why they are meeting. Deep breaths <3
Can you elaborate? - “and that isn’t the only possible next step on the table.”
The exec leadership team is meeting w/th/fri of this week. Layoffs take a LOT of pre-planning (even just logistics w hr)- and that isn’t the only possible next step on the table. No way anything happens until mid/late Dec IF there are layoffs. Only reason it was a Thursday last time is that it was last day of q3. Tuesdays are typical “layoff” day. No way anything is finalized to lead to layoffs 1 business day after their meeting ends.
@1vya+1pNbC8Lz Has nothing to do with it. It’s all about setting up for financial success in Q1 to hit the new year running
I'm absolutely not shocked they would lay people off right at Christmastime. That way, they don't have to pay extra people over the holiday break.
Rather than rhetoric, any details would be greatly appreciated. This is our livelihoods
lol no he didn’t
Paul just said yes to further downsizing in the next 4-5 weeks.
Yeah I'd wait until you get an email that actually says your fired first. The company is focused on moving in a good direction rn with the leadership change so I doubt he'd get everyone pi---d as soon as he got here.
I have never worked at this establishment. But if I do say it would be nice for each team
To vote who to stay and who to go. Would be a fascinating excercise
!
Details would be appreciated!
Meanwhile I’m making less than my employees
Anyone can write anything and claim whatever title they want.
@Former C-Suite Executive could you give any additional information here or are you just being dramatic?
What departments will be impacted?
I did hear this morning that hiring is paused for all positions except for svp and above.
Last I heard, it’s happening this week or next.