Visa is going to layoff 10-15% of its employees in November.
They are tracking code commits and annual ratings to decide.
If you are being fired your Manager/Director/Sr Director/SVP has given your name.
Those who have joined post January are safe.
This firing will also include developers, managers, directors etc.
VAS will have the highest count followed by PPT.
This is the second round. Total 6 rounds are planned. If you are safe in this round you might get fired in subsequent rounds. So start preparing for switch.
There is no Job Security in Visa anymore.
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Maybe BS, maybe not.
However the presence of an information vacuum will always lead to fear, uncertainty and doubt, which is ultimately a failure of leadership.
This is complete bs and just spreading FUD. Probably disgruntled employee from the last layoff. There's no way some mo--n knows of 15% layoff and is posting on here
severance package: 3 to 6 months on payroll (specifics depending on role or location) plus one month salary per each year.
Remote workers will be hit harder.
The list is known, your manager knows, if he does not know, then he is the one being fired.
Everyone is just pretending to know nothing while preparing doing a silence offboarding.
@8qfm+1uvmuDma I’m really sorry to hear that. I hope you are better appreciated elsewhere.
Were you told that you were training your replacement or is that just how it turned out?
Was your replacement a contractor in the Poland office?
..."Poland and other location contractors REPLACING Full time employees elsewhere". Correct 100% I was asked to train a replacement recent full time employee before being eliminated. Lesson: We are ALL replaceable, years of experience Irrelevant
So basically the new Poland office full of contractors are replacing full time employees elsewhere.
By most accounts these contractors are of a very low quality, nonetheless It’s incumbent to anyone working with these teams to not help them in the slightest. You’re only training your replacement.
Any info on the severance package provided?
6 rounds of layoffs is a lot! Any idea when future rounds could be after the one in November?
Severances are pretty generous and you get more with years of service.
There will be No bonus
What is the exact timing in November? Will it be before or after annual bonuses are paid (Nov 15) and RSUs vest (11/19)?
Any idea on what severances will look like?
By now the Layoff list should have been prepared. Believe the list is with manager,director,vp and above.
Why we don’t see visa announce it in any news, all other companies are openly announcing even the ones who have 100 people layoff, why is visa so coward. If u r impacting then come out and announce boldly than hiding behind the veil
I can confirm this. Visa plans to exit about 10% of workforce in November. There was a hiring freeze in July this year with all managers told to stop hiring for 3 months. Hiring is now allowed again but they will cut 10% of workforce in November
Corporate Ignorance Technology will certainly experience the brunt of reductions. Issuing more challenge coins to gamify corporate culture and complete the wool pull while distracting people from reality is tiresome. Regardless, it sure would be nice to see new product innovation from the technology orgs vs relying on corporate takeovers.
I mean there is definitely room to cut when they are beginning to ramp up Poland site. My issue is just do it transparently without any delay.
Is this 10-15% for the one round or in total? Estimates I've seen put the summer layoffs at 4-6% so an additional 10-15% right at the busiest shopping time of the year would be mad.
What's the reason behind silent layoffs without announcement like cowards where they are actually laying off . For sure they can't tell it effects people who don't laid off they arent concerned . Tell on face and provide some dates rather using fancy words it's restructure change in location.
I guess we are a “Charge Off.”
It does not matter where the source is coming from.
That is rubbish. The source 100% matters. We don't need to name names but there's a difference between hearing layoff news from a Visa SVP with inside information and hearing it from a crazy neighbor whose only connection to Visa is the card in their pocket.
It does not matter where the source is coming from. Everyone can feel uncertainties... at least the ones "identified" by their managers will be receiving a nice Thanksgiving gift vacation break start planning your career outside the compnay
Where are you getting this information?