I’ve heard they are changing Pay Grades. Which will impact salary bands, bonuses and stock (for that get stock grants). Also heard they are lining up layoffs of about 1,000 people. What do you all know? Or have heard?
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I was laid off this morning 2024/01/23 from a data science position at the TechHub. For the looks, this started yesterday, and it will continue onward this week. I don't think they are removing entire teams, since I have no news of any other member of my team, peers or acquaintances to be in the same situation. I will post in a few days. Personally, I think it is a great company, which is getting affected by a bad culture in some departments because some leaders are pushing for micromanaging without having a clue of how much harm they are doing.
"We have another cohort starting in the summer". Grates on my nerves to hear that nonsense.
Even if Melvin didn't start the Tech Building in Charlotte, he could have ki-led it, like he ki-led Rona/Lowes Canada (at a cost of over $1 BILLION to the Company, plus the loss of revenue and expansion of the Lowes Brand outside the US). But, he did not. Shoulda kept Rona/Lowes CA and ki-led the Tech Hub. But, Rona and Lowes CA required retail expertise and skill to turn a profit. That's too hard. Cutting front line payroll and store operating expense is the #1 strategy for impacting the Company performance, quarter by quarter. That, is easy.
The decision to build the tech hub building happened before Marvin ever came to Lowe's.
That's Melvin for ya. Our fearless leader is now running around cutting payroll since sales are down and doesn't have a clue what to do about it. Maybe do another stock buyback Melvin. ....God bless
Building that expensive structure in downtown Charlotte is one of the worst mistakes Melvin has made (and he has made myriads). Nearly all Tech should be outsourced. That building is full of overpaid, lazy, Gen Z MBAs playing foosball all day. It's crazy to see how much money is thrown at useless areas while the front line serving the customer is continually cut and shafted.
Best of luck. Hope it’s just a rumor.