Somebody mentioned that more people got hit today, but I haven't heard anything. From what I understood, everybody who was supposed to be notified, was notified yesterday.
Anybody else knows more about this? Am I wrong in feeling relieved that I dodged this bullet? Is there more to come this week?
I'm not the person who posted the $28K, but look at it this way - it's $28K for two more weeks at this point, since I believe the bonuses are awarded on February 2nd (but paid later). If that's nothing to you, you can go ahead and paypal that to me. I know a decent percentage of people who were/are waiting for that bonus to hit before giving notice or starting a job search.
The cuts were supposed to be more. More cuts 2-3 months absolutely. Just enough time to find something else and get out!
it's possible another round is coming in 2-3 months.
possible?
almost guaranteed.
IPO?? LMAO!!
$28k before taxes... and you think that’s a lot?
Get the bonus and get out. That’s not much in the grand scheme of things though if you think about what you’ve endored. Like what was said below- hurts you more to stay.
Typical strategy being deployed to restructure and prepare for an IPO so that the investors get their money back and then some.... very few long term employees will survive this process.... time to leave the sinking ship.
$28,000 before taxes.
What is your bonus worth? working for a company that’s frankly embarrassing to say you work at now, the culture, the constant rumors and worry, limited advancement (if any), sh-- pay.
Got word from a trusted source that it's possible another round is coming in 2-3 months. They said it's on the table for discussion but not confirmed in any way. Good luck everyone...
Well an outskirt location. Daytona has an RSD there now letting go another round. The building is almost empty. We all know what time it is.
In NAD Key man bonus level 36 is 10% before they manipulate it, level 37 is 15%, level 38 and above I beleive is 20%. With this years metrics it looks like it will be around 8% for level 36, around 12% for level 37, and around 16% for level 38+. I don't know what you call substantial but 12% of annual salary is nothing to leave on the table. (Everyone I rounded up and tried to use Regis' algorithm 1/3-2/23 award numbers. So if I am wrong forgive me) its better than the one year it was zero and they gave everyone an extra weeks vacation to soothe the lack of bonus that year. (Which I never got to use!)
“ "Smart ones would have left?" If they leave, then they wouldn't have gotten their year end bonus. That's a substantial amount to leave on the table“
Btw when using quotation marks, make sure you enter the actual quote in between. Changing a single word makes it a different statement all together. In other words, that makes it your interpretation and not a quote. Let’s keep it honest.
Here we go with the overblown bonus talk. For those who will receive any bonus, “substantial” is in the eye of the beholder.
"Smart ones would have left?" If they leave, then they wouldn't have gotten their year end bonus. That's a substantial amount to leave on the table
Does anybody no what’s going to happen to the SAL’s in California
Had to laugh at the comment about that people will be giving their two week notices soon. Soon?! The smart ones already left...
Can’t really blame them for it. It’s not easy working in a place where you’re constantly questioning your stability.
The 19th is actually the last day for at least some people who were laid off yesterday, although many of them are not actively working anymore due to the nature of their jobs. If your job is more long term than day to day work (i.e. You are part of planning or a monthly sprint vs you work a stack of tickets that you finish every day), it often doesn't make sense for you to continue projects that will likely now never finish.
I agree this is about splitting parts of Staples off and selling them. There is every indication based on how this was handled that most forward work will simply be dropped. The people who plan and innovate are mostly gone and a skeleton crew of people who can keep something running as long nothing is changed were kept. This is about keeping the lights on and things functional long enough to attract a buyer based on profits and then let the problems that come from that approach be the buyer's problem in the future.
I suspect there are numerous individuals will voluntarily leave soon! those individuals might have already applied for and secured roles outside Staples, and might have momentarily remained put in order to potentially get a severance package.
They will give their two week notices soon!
My best guess is that if you make it through the next two weeks to Q1 you may be good until Q3. Watching this transpire reminds me of preparing to sell NAD. They know anyone interested would see layoffs as a method to show profitability but not true profibility. So 2018 will be focused on profit with current or modified headcount. Sycamore willl need a string of quarterly profits to show that NAD is attractive to a potential buyer. If they aren't successful then more layoffs in Q4 of 2018.
Watch as associates not effected leave as the next round of attrition. Sycamore will then adjust to customer attrition and either increase ranks if they cut to deeply and customers are retained, or intiate another's round of layoffs to met customers levels if more customers leave than they estimated.
The SAL organization will be going through account evaluation for profibility, customer is not profitibale they will be cut lose, not supported until the customer leaves or renegotiated.
This is not about closing NAD, it is about positioning for it to be sold, this is a twelve to eighteen month process.
Remember someone has to stay to turn off the lights!
Realistically the fiscal year isn’t done yet. I don’t want to be a doomsayer, but right now with how things are looking I don’t feel anyone’s “safe.” Especially remote centres that aren’t located directly in Maitland or Framingham.
I had heard at one point that the 19th was also mentioned. But most likely it was a rumor. You'll know tomorrow if an out of the blue mandatory skype invite shows up titled something like, future plans, go forward strategy, etc. something weird other than normal manager\associate meetings