Thread regarding Global Payments Inc. layoffs

Confidentiality

There's bitterness and angst in posts on this site and in the reorg meeting this morning about why there was no notification, managers kept in the dark, no explanations of criteria for who got the axe. I'm not a manager or corporate officer or consultant at GPN, just an individual contributor employee. However, at one time I was a corporate officer at a large $20B+ US publicly traded corporation that grew through mergers and acquisitions and went through multiple rounds of organizational change, always accompanied by RIFs. I can offer some perspective on the constraints that go along with that role.

  1. GPN is a publicly traded company. There are strict rules, laws, limiting the sharing of insider information that might affect the share price. Detailed information on a layoff, prior to its announcement, is a textbook example of insider information that can't legally be shared outside of the board and corporate officer group. In particular, the timing of such an event would need to be held in the strictest confidence. That alone likely explains middle management's lack of direct involvement in the decision process and lack of notification.
  1. Even as a corporate officer, I did not necessarily have the last word on who was impacted by layoffs in my teams. The US is a litigious culture when it comes to even the appearance of discrimination. EEOC complaints and lawsuits do not require proof of intent. They can succeed simply by statistical demonstration of inequity impacting protected categories. So, HR is always heavily involved in the decision process. They will do the statistical analysis and may recommend adjustments to minimize the litigation risk to the corporation, in the aggregate.

This is not to minimize the very real pain that those who lost their jobs this week are experiencing. Believe it or not, many, perhaps most, senior leaders struggle with these decisions for that reason. Those that are capable of empathy will feel that pain too, much like parents feel their children's pain. Many burn out because of this. This is the very reason I am now an individual contributor and will never go back to a line leadership position. (That said, they are quite well compensated, so I wouldn't feel too sorry for them.)

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| 1431 views | | 4 replies (last September 3, 2024) | Reply
Post ID: @OP+1ugH84xy

4 replies (most recent on top)

run guys run ..leave the sinking ship

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Post ID: @4vlq+1ugH84xy

i cannot properly express how much i really enjoy the logic and experience shared in this. i respect the step back after having a larger role and logical breakdown of why some things happen they way they do. thanks pal.

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Post ID: @4frf+1ugH84xy

What you say maybe true, but in their desire to avoid litigation issues in the US, they have forgotten that employment is governed by laws in other jurisdictions and workers have different rights. In keeping this secret until they told people they were being made redundant they may have broken the law in places like the UK and Canada, where there are procedures that have to be followed before you can tell someone they are at risk of redundancy.

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Post ID: @1tjr+1ugH84xy

This one hit differently. Mass notifications via virtual meetings? Requiring some to work a notice in order to get their severance? That's just plain lowdown.
Leadership group was turned COMPLETELY upside down. And no communication. Nothing about the reorg has been communicated inside our facility other than what came from the top. It has been a long time since I have seriously thought about looking elsewhere, but at this point it seems like only a matter of time before they get us all. Second set of layoffs in six months. Good people. Valuable people. Not turds that didn't do their jobs. And I think it's just beginning.

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Post ID: @edg+1ugH84xy

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