This is a company who silently do layoff. Plan is to put you on performance plan and say you to quit because you are not performer. Next rest of life you think what worst you did. No severance no hike etc. Day by day it’s turned into a cheap company. Management is worst because they support nepotism. So you can see a lot of wrong people at right place. If you love your career better stay away from here.
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I didn't realize this approach had a name. But I do realize it is used widely at MassMutual.