Layoffs are expected before April 19th bonus payoff. Numbers of 15-20% cuts are expected. The planning for this has been in the works for quite some time . Previous CEO changed ranking system to allow 5% of staff to be laid off yearly. New CEO knew layoffs were in the plan when he joined. Even before this move people have been forced out or "right sized".
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I got paid very well. I was in equipment maintenance.
Benefits at Lumileds have been cut by Apollo. Their dental plan is the worst I've seen and pays for practically nothing. Sick time was cut to 3 days a year and you can't carry it over. Apollo also pushed the paybands down so newcomers get paid way less than market.
Yep, it's true. Lumileds pays so poorly that it has become a training ground for all the local companies like Apple, Facebook, and Google. Spend 2 years at Lumileds and then get a huge raise at a real company that doesn't screw its employees on a regular schedule.
I agree with the poster who says management is clueless. Most of them are lifers and extremely well paid for doing a mediocre job at best. Most of them haven't ever worked for another company so they have no real experience at what real companies and real managers do to excel and motivate their workforce.
Lumileds pays way below the local market rates. It cannot attract and retain younger people so it relies on an aging workforce who will put up with the poor benefits. Apollo has granted zero in the way of stock options so the workforce doesn't give a damn about going IPO.
All the old people running this company need to retire. Management has no clue wtf they are doing. Their methods and processes are outdated it’s pathetic. The company is overworking their employees and underpaying them. Those left behind are getting more work and no raises. Seriously. Be thankful you are out of this rotten culture.
People being laid off should be happy they get to move to a new career. Let’s face it. Lumileds is in a horrible business. Making lights is not a good industry to be in. There’s a reason Philips sold this business off. Apollo, thinking they’re Gods great gift to the world, thought they could make a quick buck on it. Although it didn’t occur to those brilliant little MBA grads that maybe Philips dumped this business for a reason. Bad business. Bad economic market. Bad leadership team. Bad company culture. The writing has been on the wall for a while now. I’ve never worked for a company where I felt there was zero attempt at a company culture before Lumileds. This place feels like a barren wasteland. Management has no idea how to run a company. It’s absolutely pathetic. New CEO hired in 2019 and his first job is cleaning house. Really mature way to run a company Apollo. I could honestly see Lumileds going bankrupt when assessing the combination of poor leadership, poor culture, and poor business/economic conditions. Those who are laid off: be thankful you’ll get a fresh start somewhere else.