Ryan seems to be restructuring exec leadership to be predominantly men in their 40s (except Kelly Mahon) and he’s laying off mostly women VPs & others who’ve been at the company for 20+ yrs. Looks like he’s laying off teams as part of collateral damage to avoid getting sued for discriminatory layoffs.
Has anybody else noticed this?? What’s going with this trend & when will it stop?? Only “yes-men” seem to be standing after the storm passes. Feels like we’re living the Hunger Games.
I am also white women one in my team of Indians, received 0 bonus, unfair review. All Indians are safe in my team. Project is also stable. It is clear discrimination from Indian managers, and favoritism.
Foreign worker hiring often appears tainted by dubious practices and falsified documents.
Now, those involved seem busy covering their tracks, likely fearing exposure of these immigration-related violations. Many gained their U.S. citizenships as well.
this time a LOT of them on H1B very stressful during the holiday season. I believe they have 30 days to leave and in their severance includes airline ticket. H1B cheap labor disposable as simple as that
Which IT SVP is that whose entire team is laid off?
IT team under one SVP his entire team including ALL locations under one SVP (Singapore, London, FC, Florida, Dubai) were wiped out yesterday.
Now as per the new role from Rajat 1000 lost jobs. I am guessing this is an to the layoff season. We will know for sure in tomorrow's townhall. Sit tight!
What IT team? You say all wiped out today, I thought the layoffs were finished? So did they find out today or was today their last day?
Entire IT team under SVP (Singapore, London, FC, Florida, Dubai) got early Bay Area cyclone wiped out today.
Tech side. Half those let go in my org this time were women but women make up one quarter of the total org. All of the people let go in my org except one were white.
Remember Ryan works for Shareholders and Investors, Ryan does Not work for YOU. If Ryan does not deliver he will be replaced simple as that!
According to google, Ryan received 23 million compensation in 2023. Curious how much compensation he is going to receive in 2024 after his evil round of layoffs. With Visa’s stable high profit margin, I speculate these unjustified layoffs are simply due to corporate greed,
The VISA HR claimed to be focused on diversity but my suspicion is that Rajat can strong-arm them with no issues at all. They are also color-blind: they only see black and white. Look around the IT dept and you will see that there is one single ethnic group that dominates more than 80% of the IT demographics in VISA --- Indians.
For VISA HR, as long as it is non-white, it has hit its diversity mark. They do not care how one non-white race has dominated the IT in VISA. In short, diversity is just a political slogan, nothing more.
ha ha ... and RTO .... what's the point to go to the office and everyone around me speaks some Indian language. Feeling marginalized, isolated as a non-Indian? Sure do ... and what's HR doing about it? They let me go so as to further lower the diversity.
So our beloved CEO claims on the town hall that layoffs are over and the news are pretty much focus on the year and not future.
Weeks later in a tech townhall in Singapore we get the info that the readjustments are still going on.
So many things wrong here, from a trust a communication point of view.
H1B is basically a form of getting cheap labor slaves, they do not have or enjoy the same privileges as US citizens
Hiring h1b raise ethical and legal concerns when numerous qualified U.S. citizens are bypassed without even being considered for interviews.
Hiring in Poland and Bangalore
1400 layoffs & 3000 rehires, looks like they’re hiring double the people in half the salary, taking advantage of people’s desperation. Great earnings, exceeded estimates & increased revenue, yet we are eliminating roles. Does Ryan plan to take a pay cut to try & help in any way?
I came across an [indian] manager who was holding back his tears because he was forced to let go of few of his team members. He had developed a bonding with them and they’d been working together for some years. He said he had signed up to lead a team & not break the team.
The way LT is treating its loyal employees is just disheartening. Al Kelly celebrated these employees at town hall during his tenure.
The 'take over' of American Corprorations is in full swing aided by greedy execs and spineless politicians. There is a pattern in the recent layoffs that tenured non- visa holder employees were methodically targeted by the LT for elimination. Visa should be investigated for corrupt management and HR practices and should be sued heavily. I hope that the ongoing DOJ investigations find them liable and they end up paying hefty fines and sanctioned.
India is hollowing out US knowledge economy same as China hollowed out US manufacturing. Once great American companies like Intel, Cisco, HPE, And many more are taken over by Indians leading to their downfall. They just encroach and form a tribe. Sad days ahead. With the advent of AI and immigration train and outsourcing not stopping anytime soon, we all have to find another reliable way of making a living. Many Indians reading this may find racist and such but tell me if this would be your sentiment if the situation is reversed.
Keep in mind a lot of workers are under H1B and ...the rest is story
Instead of looking at this through a racial lens, how bout considering the fact that Indians simply cost less? You guys think you're way more important than you actually are. I can hire 3 Indians for less than 1 American, and they're more productive. DEI is a complete failure. Meritocracy is what will get Visa to the top. Too many people are living in absolute comfort waiting for RSUs to vest.
I heard of one too today in US. Senior resource and good resource.
I am the only white woman in a team of Indians and got affected by layoffs and know of at least another white man in a team of mostly Indians who was affected.
I also noticed that almost all of the positions eliminated belonged to non-Indians. Did anyone notice this?
I was laid off and I am over 53. I didn't appreciate there was an age-ism element here, certainly I lost unvested RSUs. I also agree with the comments about Indian nationals, I did feel discriminated against on that front being non-Indian in a team of people of Indian origin, but thought I was imagining the favouritism I often saw, perhaps not a figment of my imagination after all.
whats the severance like?
I got laid off, if you have a meeting with Touchbase or incoming HR, you can call it last day.
VISA has been forcing Managers to give employees lowest rating - the Needs Strengthening one.
VISA is forcing the Managers regardless if the employee is doing well on performance.
This could be the basis of suing VISA AND Ryan, the fast-talking sleazy, used car salesman.
I believe there is a well known labor practice lawyer available. I remember hearing people about a famous well known Bay Area labor practice lawyer. I was told several were retaining this particular firm
The new global head in Client Services just eliminated 3 women SVP’s roles from the CSLT. We’re going backwards.
My team and a good amount of people I know were let go today 20+
Given a low performance then let go even though they did amazing work. Easy out for leadership
The Executive Leadership of Visa has always been dominated by men. Visa has "reorged" out those above a certain age before. Silent layoffs aren't new (ask someone in Client Services).
What is new, is the size of this reorg./reset/layoff. and impacted teams. I don't recall technology being hit this hard in my 10+ years.
He is going to be sued anyways. Visa HR policies were changed to layoff people with less severance or no severance by forcing managers to give low rating to the team members even when they have done good work.
Perhaps there isn’t a pattern. Most layoffs are continuing to silently happen from Technology.
Found a relevant perspective previously shared in this forum, which seems applicable to Visa and similar corporations.
"An environment dominated by politics and backstabbing, fueled by the presence of numerous unqualified individuals masquerading as managers. Their primary focus seems to be on replacing with Indian nationals or individuals based in India. A workplace plagued by nationality discrimination. It's turned into a job visa body shop, much like other IT body shops."
Magic age used to be pension eligibility. Now it’s RSU guarantees. 53 is the new canning stage. Get rid of people before they vest outstanding RSU’s at 55. Severance is added on to your calculation, so 53 and under is safe to term.
As someone who was told that their bonus was lower, while 23 DEI people under me got an additional 5% above equal performing non DEI staff, I think you’re off on the focus.
what's next? de fund DEI and ERG initiatives?
Corporations like Boing, quietly are dismantling DEI initiatives
https://www.city-journal.org/article/why-boeing-ki-led-dei
A reckoning is underway in corporate America. After the death of George Floyd in 2020, it seemed that every Fortune 500 company had launched a “diversity, equity, and inclusion” program. But now, four years later, many companies are quietly acknowledging the failure of these initiatives and, in some cases, winding them down.