I cannot find any coverage in the media? What about folks who visit this site - do you have any info on Paycor layoffs?
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I was part of it and was told by others that the total number was around 100 spanning across multiple departments.
My post in the context of laying off and that no companies give notice to their employees is true. You may be confused with companies giving notice to employees that they are being laid off, with companies that tell employees that they are being laid off by a certain date. if you are being laid off you don't find out 2 weeks prior to your layoff notice, but you might have 4 weeks to find a new role at certain companies after your layoff notice, there's a difference.
Rumors are just that. I do know the affected employees are being treated right.
Re; the poster who said that no companies give employees advanced notice - that's not true. Moreover, why didn't Paycor file WARN notices with the Ohio DOL? What conditions exempted Paycor from filing those notices?
I am a local recruiter working with a candidate who said they are laying off around 100.
I've been around this sieve for a long time and a lot of companies had a lousy January... Many of the publicly traded ones too.
When you've planned for growth that doesn't materialize, like paycor, you either absorb it in the hopes of future growth or you pare your losses.
I doubt it was an investor... Their latest round was placed by Goldman Sachs and if they pulled out after sinking 110m we wouldn't be talking about layoffs, we'd be talking about a fire sale to ADP.
Anyone know if the development groups were impacts? What about the Newton folks?
Two rumors are floating around. 1) sales missed goals causing slower growth than anticipated. 2) one of Bob's investors decided to pull out, so the company needed cash ASAP for the return of payment.
Regardless of the truth, not a good look for a company prepping to go public.
The company didn't lay off 10%, for those speaking you obviously don't know the full picture of how many employees Paycor actually has.
The truth is that no company that does this gives the affected employees prior notice, NONE. It's always difficult whether you are an affected employee or not. I've been through this a few times at different companies and I will tell you that the way Paycor did it was respectful to the employees and in a way that tries to recognize their service. I'm not a Paycor executive. The person who said they loved it at Paycor, that's because you know Paycor is a good company and cares about their employees. No one has been threatened with termination as far as I'm aware.
Companies go through this, its a little shocking but I believe Paycor did it the best way possible in a pretty crappy situation for those who are no longer there. Being laid off is never a positive experience, regardless of how good a job the company does.
The "None of this is true" is a Paycor Executive or HR post trying to keep a lid on it. Make no mistake, they did indeed layoff over 10% of it's workforce.
This is 100% true. Laid off between 105-110 people. They want to keep this prestine picture to the community. I loved working there, I spent a majority of my adult life there working. Not once did I think my job was in jeopardy, and bam laid off out of the blue. No warning, nothing.
Yes, the total number from I hear was either 140 or 104. It was 10% of the workforce. Right now they have threatened termination to anyone who leaks this detail, basic scare factor. I did contact a local new outlet who said they are waiting for someone to go on record to say it did happen but so far, no one has.
None of this is true. VC intact. Inside sales very much still there. No one layer off- many sellers on performance plans let go. No where near 100.
there are 100 people layoff