In today's "office hours" webcast the question of whether we should expect more layoffs or not was explicitly asked. The answer was rather blunt. Yes, in fact, we should expect further layoffs beyond what had already occurred.
8 replies (most recent on top)
It was an ugly Monday, America’s Pre-Sales got hit hard with WFRs.
HPE has already been in the habit of giving deep-deep discounts to the largest customers, to the point that HPE was clearly losing money (bleeding itself to death) on these deals. Meggot and Minions have FINALLY (duh!) realized that losing money is NOT a way to run a business!
Large customers have been bailing out from HPE deals, even despite these deep discounts! But at least the deep discounts are going away...
HPE has no future to speak of. Good luck to all!
HPE is very scary the entire floor if the company has sunk deep into the swamp. HOW are they going to compete unless they provide deep discounts across the board to Microsoft their largest customer?
Houston was impacted. Typically takes a week or so to realize the scale.
RE: the 2 weeks continuation of work. The precedent was pretty much set in my area. Once I was notified, I was done doing calls in the field. I went into full exit work for my benefit i.e. getting personal phone, pc migration, contacts update, new email. I also had a company car so I drove all over the place on the companies dime and gas. Basically, used up my unused FTO that I wasn't going to be paid for.
Many of my customers would not have allowed people wfr'ed to work on their sites. No accountability.
Has anyone ever heard of a WFR being changed to a "firing with cause" . That would be a really chickenshit thing to do.
Word has it that hundreds were WFRd this week but it is hard to know who was impacted. No one is talking.
Very true - they could cut back on the package to save themselves some more $$ (considering how many packages it sounds like they will be paying out) - Currently in the US it is = 11 Weeks @ Full Pay + 2 days pay for every year of service over 11 years + 60 day benefit equivalent pay. The other plot twist, if you don't mind your P's & Q's during your 2 weeks, they can pretty easily flip your termination to "with cause" - that will eliminate any severance package and likely any chance at unemployment.
Another VERY pressing question is...
In future layoffs, can we expect drastic declines in go-away benefits?
This is what I have seen in other cases of corporations in their death throes...
(I was lucky and got hit early on, in the demise of a start-up, and later-on victims got hosed).