Hi all, I’m thinking there may be layoffs coming before Q2 earnings call. I’ve noticed on my boss’ calendar that he/she was preparing an “Exec Package”. Only thing I can think is he/she is making recommendations for layoffs. Of course, we’re all nervous but some of us are newer so we think we’ll be the first to go.
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Isn’t this the second or third lay-off prediction we’ve had in recent months that’s come to nothing?
Yes as someone already mentioned kept your LinkedIn profile up to date, maybe do a refresh to make it look and feel professional and positive. Make connections especially with key contacts you with come in contact with - could be coworkers in many different roles or a vendor/partner you’re working with.
And think about polishing and updating your resume.
The IT/Tech market has been very tough the past year …very competitive. Some get lucky and land a new gig within 5 months but many have been looking 5-12 months.
Businesses are cautious to hire and there’s been tons of competition for jobs since last year with the big layoffs followed by rolling layoffs. Look at SHI …they just bought a Tech/Cybersecurity company of 800 employees based in India. That’ll help quite a bit with their profit margin versus having to add similar workforce here in the US.
And yes tech salaries have softened quite a bit over the past year, especially this year because companies are able to get hundreds of interested applicants for roles paying 15% less than 2 years ago. There’s a salary refresh going on.
If you’re at CDW, keep up the good work but continue to make good connections. It’s unfortunate CEO/Leahy has really changed the dynamics of CDW. Really bad with 2 rounds of layoffs between last year and this year …throwing out so many of the dedicated longterm 10+ yr coworkers. Yeah keep pumping the make amazing happen BS.
The chaos and stress working there dealing with the disorganization fueled by multiple acquisitions and horrible system integration was crazy …glad I’m out.
“Exec Package” typically means a presentation or providing information that goes into a presentation for the executives as an update to what’s going on in the business.
Would love to see front-line workers keep their jobs & some the VPs & Directors be let go, if layoffs happen again in the future. With executive salaries CDW could save 3-4X the money & keep more people that make money for the company
As one of the January layoffs, here is my advice:
(1) when things get “weird” and meetings keep getting cancelled and any semblance of “strategy” gets fuzzy, it’s because layoffs are coming. You may or may not be on the list, but you’ll be affected.
(2) keep your LinkedIn profile up to date, maintain a positive and professional presence there at all times, and share opportunities that come through your feed that you’re not interested in that may help others. It helps you to earn goodwill if you’re ever looking for a job or gig opportunities.
(3) the outplacement service that CDW includes is absolutely worthless. You’ll get spammed by bots on text, email, and voicemail from them, but they’re clueless when it comes to putting together a resume or LinkedIn profile or actually placing you in an equivalent or higher job.
(4) the job market is brutal. Be prepared to take contract roles to pay your bills. Lots of tech layoffs in the last two years, AI substantially reducing the number of jobs out there, and a job that can be done anywhere can often be offshored for much lower compensation - and many of the jobs that are out there are being offered at ridiculously low salaries. I got offered a a VP role by a top 10 multinational corporation- and they offered a whopping 15,000 relocation package. Maybe if I was a recent college grad still living with mom and dad or in a studio apartment that would work, but that wouldn’t come close to paying the commission to sell my house, much less to move.
(5) reach out to your former coworkers who are no longer there for specific networking tips for your role.
(6) all things considered, the severance packages tend to be “fair.” I was one of the fortunate ones who didn’t have to take COBRA because I’m a veteran and can get healthcare through VA. I did port my life insurance though.
I make as much as I did at CDW through contractor work… but I miss paid holidays and PTO, lol.
Hang in there, everyone.
One thing that may be a consolation to “newer” coworkers is that the layoffs in the last two years have been the more senior coworkers at the top end of their pay band… and nearly all are over 40. It’s all about cutting payroll. There is no loyalty to those who have served longest.
I’ve also noticed some changes that might indicate potential layoffs. There have been fewer meetings lately, and people seem more on edge than usual. It’s hard to say for certain, but the signs are there. Let’s try to stay focused on our work and support each other through this uncertain time. If anyone hears anything concrete or has more information, please share it so we can all be as prepared as possible. Hang in there.
We won’t really know until something happens like the day off. Unfortunately. But yes the behavior is interesting as of late. From what I have seen.