#rif

4000 RIFed times average salary of $100,000=$400M include
4000 times vested RSUs which are clawed back on an average $150,000 = $600M
Bottom line Savings of ~ $1B.

Title, I signed the severance package, but I totally disregarded the fact that I worked towards AR that year, am i entitled to that pro-rated bonus?

Was talking to a current co-worker of where I work now, and he mentioned that Teradata was like this and so was his previous company (although hes going through it with an employee lawyer since they didn't pay him).

TIA.

I’m sure these three basically-kids and two chronic slackers are ready to fill the shoes of the four veterans we just lost. I also hope they’re ready to take on the workload, because I sure as he-l am not going to. Is there even a general idea of how many teams like mine are supposed to function, let alone produce good work?

Does anybody have any info on what's happening?

Expect another month of silence on both sides of the fence whilst the AVPs circle around the cauldron cooking up the next hot mess just in time for Halloween.

If you can get an exit do it now or keep logging evidence of misdemeanours and ‘managerial’ behavior to strengthen your position if you get the tap on the shoulder.

The toxic dial is being turned up daily.

I've heard a few whispers referring to an Oct event Anyone else picking up on anything?

Friday started this round, VPs first? Who went yesterday?

Is ordering higher levels first and ends with peons? Or maybe there is no logic on order?

Is the Care Manager (nurse) position a relatively safe one? Stable (if you meet the metrics/quality)?

Contemplating applying to this company 😩.
Can someone explain why are there offering positions if they are thinking about rif? Are the rifs in certain departments?

It’s not a question “IF” Anthem/Elevance is planning more RIFs, it’s more like “WHEN”. Always just assume they are, and plan accordingly. No one is safe from the RIF, so get your resume and LinkedIn up to date, start looking for ways to network more, save as much money as possible, figure out ways to strengthen your mental health, and show up every day knowing it very well could be your last.

RIFs are occurring across multiple areas today..CCB and CIB

This site used to have good information related to coming layoffs. Now all it seems to have is people complaining about upper management and/RTO. Sadly, the site is becoming more irrelevant as time passes.
So I will try one more time. Does anyone have any REAL intell on coming layoffs?

Spent years giving my all, and now all the constant chaos and cuts have destroyed any motivation. Leadership keeps getting rid of people and acting like we can still deliver miracles. I’m done going above and beyond just to see it wasted. Every task feels like a battle, and my patience has finally run out.

I read in the Q2 financial report that the quarter end employment number was 16,600. Does that include Lexmark personnel? If yes, that means prior Xerox people remaining must be around 12,000 or so world wide?

What's going on with MPS?
I assume some of the teams they moved to them is for the their new VP to do the RIF work that EOE wasn't capable of.

Any info on RIF for UM nurses?

One of the posts here said the August cuts were the 2 Tuesday of the month. Did I miss it or was there really even one? The firm really doesn’t believe in getting rid of people, in my personal experience.

That could lead to bad press. According to my manager, the firm only cares about what people could think might happen.

Just sayin is all…

Is this confirmed?

the next RIF announcements are 9/3 this is the company wide big one at mid and upper management levels
OP: @a5+1k36et84k

How do people not realize this?

Sorry I’ve been hiding inside a bubble, but d-mb question…….Could someone please tell me exactly why they are doing these layoffs? Seems to be so out of the blue especially when they get rid of the ones that are very knowledgeable and valuable to this company

Does anyone know if there will be more TAM Layoffs coming now that everyone's been given a new title?

So heard today no bonus next quarter and layoffs before Christmas due to Lexmark doubling up staff and I’ve had to job match my team.

I’m hearing rumors that business lines/functions will have 20% targets for an October RIF. Is anyone else hearing the same? Does anyone know of any specifics?

The company is tightening up its workforce across multiple divisions and restructured several parts of its business, resulting in the loss of 30 jobs. The cuts have been made with “the goal of investing in capabilities that will propel our business into the future,” according to a Hallmark spokesperson.

https://www.thewrap.com/hallmark-layoffs-company-restructuring/

Some people are reporting cuts in their teams. I really hope this doesn’t drag on. Good luck to all of us.

He-l of a leadership strategy - drag it out for days and say nothing. Are they just adding stress on purpose at this point?

Is Oracle HW getting whacked?

A lot of people were let go. Will probably continue for the rest of the year in small batches.....get out while you can!!!

I work for WellMed. We are now under Optum, it's been about a month. I was told with this transition, they will be making cuts immediately as soon as next week. A lot of people dont know this is gonna happen so i know its going to shake people up (rightfully so). Its very unsettling the amount of layoffs the entire organization goes through every year. I've only been here for 7 years and every year, there are layoffs. They cut people, don't replace them, or if they do its with AI or they dont promote employees.

Any whisperings about RIFs in Specialty?

Could anyone share what is happening around layoffs?

Heard rumors of a big RIF coming soon. Any confirmations on which locations? Which division?

Based on what people have been reporting, it looks like there were more layoffs today. Does anyone know if these will continue throughout the week? Last week was already rough. Wishing everyone the best of luck.

Anybody have the inside scoopetypoop?

Sr. Manager here. I read this board every so often but, please don't get complacent and feel like you are safe right now. Unfortunately, it's not quite done. Last week was the majority but there is another round this coming Monday. I have 5 meetings with HR and my directs that I don't want to be in next week. Good luck .

Based on what people are sharing, these layoffs seem massive and widespread. Why are we being kept in the dark? The lack of communication is making an already difficult situation far more stressful and disorienting than it needs to be.

Sr. Director here.

Had my 1x1 with my SVP yesterday and was told that I likely will have to cut 5 people. I was told that this is company wide and most, if not all, departments and teams will be hit with a minimum of 10% for each team. Apparently it comes down to which is "cheaper" - cut ties with a vendor and get rid of a necessary tool, or cut people. In this case, it's sadly people. She couldn't tell me much but it sounds like it's supposed to be fairly big.