Lots of IT people cut in Columbus
2632 replies (most recent on top)
@3dzw ROI was abysmal.
@3dzw Adjusted for inflation we lost money.
@3dzw Beads and a ratty blanket.
@3dzw Your immortal soul for a pittance.
What was the ICP?
Any inside baseball on why they canned Judy in Texas? Her subordinates got canned too.
Glad Alex is staying though. He’s always been a gem to work with.
I did find it funny that they sent out an email today proposing an employee stock purchase plan when the stock price is at all-time highs. Great timing. Employees need to buy the top and be someone's exit liquidity I guess.
@3dnz Company stock at $133.00 a share and employees get this woefully inadequate and insulting ICP. You can't spell cheap without AEP. In the future our ICP should be 15% of the CEO's total compensation.
What fudge bucker group in IT spoiled the ICP? How many years in a row now?
@3cx3 The desperation says it all. Poorly compensated, overworked and distraught to have some sense of financial security when total compensation abhorrently lags behind inflation and stealth tariff taxes on employees.
@3cxj It is funny how those individuals, who sacrifice nothing discount, diminish and dismiss the value of those employees, who sacrifice the most to create and sustain AEP's value and profits. Perhaps, we should all stay home for a month and watch how affective the most compensated are at running the company when they have to earn their value instead of stealing it from everyone else.
@3cxj Zip your fly, your personality is showing.
How much ICP? Too much.
Has anyone learned their ICP payout amount yet? I’m sure it will be next week, but wouldn’t mind a little Friday surprise.
It is our legitimacy as a public electric utility that is the value these grifters, who have hijacked our company are using to enrich themselves. First, the chaotic reorganization to weaken our legacy culture. Then. the gaslighting to convince us our culture is flawed and must be changed. Finally, the steady decline of the AEP we built. More mistakes, more broken processes because the veteran employees, who knew and understood the vulnerabilities , monitored them and fixed them are gone. Now, legacy veteran AEP employees are so disgusted by the abomination our company has become they are leaving and retiring at an accelerating pace and AEP becomes a hallow shell of the once respected electric utility institution it used to be. How long before the grifters cash out and move on to their next host to be infected, contaminated and consumed? The grand grifter and his cult of charlatans must be made to kneel before us before they are punished for their abhorrent treachery and betrayal.
@3be6 We, who have enriched you shall now impoverish you because we can do both.
@3bpw
Wrong platform. Can't find your Truth Social pwd? It's probably wedged under your flip phone and divorce papers. Keep looking!
@3bah Someone's jealous that someone else has nicer things than them.
@3b74 The wiping of the smugness off their faces shall be immensely satisfying as they witness their revived "East India Company " being razed by the citizens who were forced to enrich it. Retiring with fully funded and enhanced Social Security while the plutocratic pedophiles stare into the emptiness of what they have earned and deserve shall be immensely satisfying and rewarding.
Upper mgmt - Get your a55 in the office every day. You have to have human interaction.
Same group - Here, make sure you use AI on everything.
K.
@3arw It is funny how without consumers you would be broke and unemployed. I guess fortunate for you that you are employed by a monopoly and they have no other choice. I wonder if that is just a coincidence or a matter of necessity?
@3aw5 Add to that major shareholder enrichment since that is what he is being compensated for and you have the true cost to customers of lining their pockets. I venture to say it is significantly more than 43 cents per customer and then add in the billions of dollars in tax revenue funded federal government subsidies to offset major shareholder enrichment and customers are really being fleeced.
@3arx don't worry. overpaid white collar "idea guys" will be replaced by AI long before all engineers are replaced.
Bill's total compensation was less than 1/10th of 1% of revenue.
Maybe the solution is to operate without a CEO. Then we could redistribute Bill's salary among the customers. They would each get a 43 cent credit to their account for the year.
@3arw Sounds about right from a employee's, customer's, tax payer's and shareholders' perspective. I question the value of CEOs, whose corporate boards vote for their compensation packages when board members are exclusively from the executive class, sit on each others corporate boards and vote each other fatter compensation packages. "They raise prices for no reason other than to line their own pockets." Add to the facts Union employees are still working without a contract because you are too busy lining your own pockets to properly compensate your employees. Without the Union we would be in the same boat as customers, tax payers and shareholders.
It's funny how the consumer always seems to know exactly what we should be doing and what it takes to run a utility. Makes me wonder why they aren't CEO.
"They raise prices for no reason other than to line their own pockets."
Devastatingly simple explanation of how the world works. No arguing with that level of confidence.
Came across this and couldn't help but chuckle...accurate depiction of how customers see us
https://www.reddit.com/r/Columbus/s/49VNsbq2Bw
Friendly reminder that a great leader won in 2016, 2020, and, again, in 2024, and is making this company and country great again!
@3a9k Perhaps, it is the right time to form an Electrical Utility Industry Professional Engineering Guild that operates like a monopoly and protects its members from the extortion practices of private equity firm lead electric utilities. A guild is an organized group of people sharing a common trade, craft, or interest, historically formed by medieval artisans and merchants for mutual aid, setting standards, and protecting members' rights, but the term now also refers to modern professional associations, clubs, and even groups. Modern Professional Group: A contemporary organization for people in the same profession, like the Screen Actors Guild, focusing on advocacy and standards.
Regulation: Setting standards, ethics, and practices for a craft or profession.
Protection: Safeguarding members' economic and professional interests.
Mutual Support: Offering aid, training (apprenticeships), and community to members.
@3a9d What all these retired engineers could do is start a private engineering finishing school and consulting firm for the electric utility industry and force the private equity boys to pay them the wages they are owed. These private engineering finishing school graduates could name their salaries. You do not need a union when your alumni form an institutional bond that forges solidarity and you will pay our price or do without professional engineering services. It is time to play the private equity firm boys' game their way and win.
We had a planning and engineering all hands meeting last week. The SVP mentioned that they attempted to try and get recent retirees back into the office for training and advisement. He wanted to get about 30 back, but said he was disappointed and they only got in the single digits.
Sounds like they are really hurting for experienced labor and a lot of knowledge has walked out the door.
Is this still the fallout from RTO?
In my opinion that was such a stupid move, and done at the worst time.
At the same meeting they said they wanted to increase headcount by about 200, that sounds like a tall order, that a hybrid schedule would have helped a lot with.
It isn't too late to reverse this, 3 days in office was very fair. But my guess is they are too proud.
@3a7f What the private equity boys don't understand are the veteran employees are the heart and soul of AEP. The younger employees see what veteran employees are willing and capable of enduring to serve their communities and it inspires them and builds their self-confidence and experience until they become veteran employees. The younger employees' youth is their strength and the older employees' wisdom, pride, experience and fortitude are their "value". We continue to operate and succeed despite colossal failures in corporate leadership.
Our distribution system's maintenance has been neglected for so long to favor Capitol over O&M to drive up profits through rate increases, employees have been worked to death to keep the distribution system operating. It has cost the company far more in overtime than properly maintaining our distribution system would have. The veterans of this company are tired of sacrificing their lives and time with their families and friends to compensate for corporate leadership's fraudulent raises and bonuses. You do not reward people for failing, you reward people for succeeding and that is precisely what is wrong with AEP. Employees are sick and tired of being punished for succeeding when our corporate leadership is determined to fail everyone except themselves. When morale fails, AEP fails and corporate leaderships' sweet deal ends.
@39xn
It could be both. Making people report to new managers and messed up hierarchies also reduces out the ones who've finally had enough, usually the most experienced employees.
As a veteran here, I'll put in the best I can until the level of stupid overtakes what even I can handle. Then I'll sit back and watch what happens when key departments packed with mostly newbies and managed by pricey outsiders try to convince regulators they know what tf they're doing.
So where are the supposed layoffs coming from? Everything we've been told is that we have huge growth and need for labor on the horizon. How would moving costs to the opcos result in layoffs? Sounds more like reorganization.
Layoff methodology rarely makes sense. Anyone middle management and below understands that. I would never assume you are “safe”. Update your resume and use your benefits before April.
@39tq
They've tried that before. It didn't work, but it did make a big mess. I don't have enough time left before retirement to see the 're-centralization' from that stupid move. Regulators are going to fleece us anyway. That cake has been baked. Mr 'record profits' can't undo that with layoffs and lost procedures.
Unfortunately layoffs are coming. The big guy wants to move costs to the opcos to make a better case for rate increases to the PUCOs. It's not really about shareholder value because we still pay for that parade in june for those people.
Whoever is panicking sure as he-l isn't in my department. Take any more of the legs out of this one, and what it supports collapses. I don't know where this person thinks there is room for that. We're dragging a huge workload on fumes now. If they lay us off they deserve the fallout.
Anyone know what the ICP score is? I heard managers were made aware but aren't allowed to share yet. Someone always spills the beans though. BF said in an earlier webcast in January that he anticipated it being around 1.5. Hopefully it ended up near there.