#layoff

Posts mentioning hashtag #layoff

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The summer of George!

Going George Costanza mode. Great time to get laid off for 6 months if you were also in the crosshairs. Looking on a potential bright side; the culture here started to su-k 5–6 years ago. Will be looking for a company that at least does a better job pretending I’m not just a number when breaking my back for them for over a decade!


Can't hide the truth if you know how to look at the data.

If you are fired, please do the below analysis on this doc you get: Older Workers Benefit Protection Act (OWBPA)

If you are older than 40 (or 50?) years old, you should get a OWBPA document (it shows ages and job titles of the fired people). MAKE SURE to save it locally immediately!!! If you view it and then leave the page, the document will show as read and you may not be able to access it again (at least that happened to me). You may be able to get GEMINI to help you do the analysis (turn AI against big dirty red!).

My guess it would be eye opening (to a judge:)) to see the breakout/comparison of job title and age for higher paying jobs (engineering and technology) versus job titles and age for lower paying jobs (help desk, admin assistants, etc..). Would not be surprising to see this output - just as an example of what might be uncovered: 50 people that are 55+ years old fired and all in high paying jobs.... and then another 50 people that are 20 to 35 years old and all in lower paying jobs (and MUCH easier to backfill or put a contractor in later). If you just looked at ages, you would say it looks ok. But, if you included wages, AND job titles, you would see a definite bias in the example.


For those that got laid off today

I was laid off today and just sat there like “now what?” What are your plans for now to the end of the month?

I’m thinking to just show face at daily meetings, don’t do anything else and ignore 90% of teams and email messages. I mean this was worst case right? They can’t really do anything else?


Laid off today

Alright guys I’ll give y’all a real post. I was an SM in wealth and got laid off today. I know you guys like to hate on SM’s but seems like a lot of us got hit. Meeting was put on my calendar super early this morning as a 1-1 without any context. Been here for 10+ years and for severance I got 6 months, prorated bonus, PTO paid to cash, and shares cashed. My manager was visibly shaken up and was like a robot reading off a script just emotionless and monotone which was very unusual. Was told to take the rest of the day off and don’t bother coming into the office through the end of the month which is my last day.

It su-ks but I was already interviewing elsewhere which I’m stoked about the severance and all the payouts.

For those affected, just know you are not alone and this is just how “at will employment” works. I hope you all bounce back quick and enjoy a little time off to recoup. Or at best find another job and enjoy the dual income.


RIFs

I don’t get why there are so many trolls here. Why would someone in their right mind share their name, supervisor, or personal information just to prove whether something is real or not? Why risk jeopardizing their severance or employment situation just to satisfy random people online?

To the trolls, please stop. People’s lives are being impacted here. If these reports are true and people are seriously being affected, I genuinely wish you all the best. No one wants to lose their job.


Protected PTO - Corporate cost savings

I was RIFd yesterday, and I see that severance only pays out unused regular PTO, not protected PTO.

They really pushed employees to NOT use protected PTO as it is meant for illness and other unintended absence. I had built up quite a bit of it, and used regular PTO almost always.

Now I’m thinking the reconfiguration of PTO was more about cost savings than anything else. I was not aware that protected PTO would be forfeited or I would have used that first and foremost.

Very sneaky move Medtronic.


Posting here is Not a priority

Believe it or not, for those that are impacted today, coming to this site and sharing the news is not a priority. They are going through an emotional roller coaster, need to inform their families, etc. so just because people aren’t posting here, doesn’t mean it’s not happening.


CSS Brokerage RIF

Has anyone heard if CSS in brokerage is being impacted? If so, do you know what sites? I’d like to think not as they just told us RTO is coming and I don’t see how an immediate RIF makes sense when it’s clear they want to see people quit rather than RTO. It’s also a client facing inbound role for managed accounts. But, with all the changes the last couple years aimed at attrition and seemingly preparing for this moment, who knows…

Side question, if someone is laid off and has unvested shares, do they pay those out to any degree?


This is hard

One of the most difficult things about layoff days is hoping its one of your team members and not you. Some of us like the people on our team and wanting one of them to be impacted instead of yourself is a special kind of he-l. It feels selfish and awful but you know it will be so much worse if you are the one to get the call. Then you have survivors guilt.


Layoffs Happening In My Group

Wasn't just rumors for the group I'm in. Teams is full of people sharing what time their calendar invite that just came in is for with HR + some leader. Everyone promising to give each other recommendations if needed, posting personal emails and phone numbers just in case, etc.

Don't know the count yet. Waiting to see if/what time my meeting will be. Bad vibes for sure.

The rumors weren't wrong for everyone.


Can we please be honest here and let us know if it's actually happening today?

I saw tons of writing on the wall the past two weeks that made me think I'm going, but the post from someone saying they made the whole thing up has me second guessing myself now.

If you're impacted, please let us know. And if you're trolling, this is people's livelihood. Please, not today...


UNT Approves 40 Faculty Buyouts to Cut Costs

The University of North Texas approved buyouts for 40 faculty members. This action aims to save up to $4.7 million. The university faces a projected $45 million budget shortfall. Declining international student enrollment and reduced state funding caused this deficit. Officials are considering other cuts but do not expect broad layoffs.

Denton, Texas


Spirit Airlines Reduces Staff Amid Financial Strain

Spirit Airlines announced hundreds of layoffs. These job cuts affect Texas airports. Dallas-Fort Worth and Houston airports are impacted. The airline faces rising fuel costs. Financial strain contributed to the decision.

Texas

https://www.cbs19.tv/video/news/local/spirit-airlines-layoffs-hit-texas-airports-as-workers-face-uncertain-future/501-15169b4b-a98a-40bc-82ed-1000cb42d68c