What ever happened to this? Updates please
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There is no doubt there will headcount reductions in the first month. But what if they are not just using the rooms for layoffs, but using them also to talk to about your about your role being "reclassified" or something like that. All in the an effort to cut your salary. BS has been known to do this in the past. This would be another "tool" to use to either make you quit, in which case would relieve them of your severance cost , or you accept the pay cut and they would save money that way as well. Below was taken from the Hub FAQ :
What will happen with my base pay?
Until the transaction close date, employees will continue to have the same terms and conditions of employment as before.
For F&R allocated employees, any long-term changes will be dependent on further discussions with Blackstone and the local law.
Those dates sound about right
The big room on the 6th at DTC booked for the same slots. That's where everybody who was let go in 2013 was sent.
A number of meeting rooms at Canada Square (London) have been block booked by HR on the 15th and 16th October.
To be honest I think if I am going to be made redundant then I would far rather it happened in early October than in a year or two's time.
Consultation is a box-ticking exercise in reality. When UK people are let go they're given a 45-day consultation period, nominally to look for another role etc etc. Then 3-months notice after that. In reality most people are put on gardening leave instantly & just go home, rarely to be seen again during the 45 days. Then they hand their laptop and pass in near day 45 & the 3-months notice is just added to the payout.
It's actually a great deal for the people who want it...!!
Room or no room they have to go through a consultation in the UK with more than 100 going and they will find they cant run rough shod in many Euro countries that have tougher employment laws than UK /US.
They don't even need rooms. Lots of people wfh a lot of the time & they'll just send a webex meeting invite to you, your manager & your HR rep with 30mins notice if they need to.
If they want rooms on any day, they’ll just cancel your meetings. You are naive to think that a room can’t be booked any day they want it. Come on....y’all are smarter than this right?
More like shutting the stable door after the horse had bolted! In London all the HR booked rooms have been released, expect emails over the weekend of the 6/7 - 13-14 October inviting you to a meeting, that is if you are on the initial hit list and based in UK/US/HK high cost locations. Speculation of course but it’s one heck of a smoking gun...
They seem to have cancelled the room bookings in London. Maybe we are all reprieved :)
True, there are many rooms in NY booked for large blocks of time beginning on Oct 8th and lasting through late October.....these could be booked for redundancy meetings but they could also be booked for retention / new HR policy discussions as well. Trying to stay positive...