Any idea if we will have October RIF 2nd Tuesday of the Month?
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Yes, there is one. One of the BU's had a tech all hands today and HR update said that they are making progress with headcount reduction but unable to achieve targets. So, some difficult decisions will be made soon.
But hey, at least there was ice cream in the evening. I got strawberry vanilla, I think.
What happens to shares VP have after a demotion. Its not like they give them back, so their overall comp only goes down by the difference of bonus between L7 and L8?
@c9 - actually I totally agree, and I also think if VPs don't have more than 10 reports then they shouldn't be a VP. But there is a slippery slope/precedent because then they could demote directors.
@ap lets be real. individual contributors shouldn't be VPs.
@af kind of stinks for people who are doing hard work that worked their way up. It’s the VPs that have too many reports that are furthest away from the work and most out of touch and useless. They need to cut there.
October Riff is going to be different - VP individual contributors (mostly non-technical or product roles) are going to be demoted to Directors. The intent is to cut some of the bloat that occurred when every body on the business side was getting promoted to VP during the pandemic. On the technical side no real layoffs rather the teams will be reassigned to new work …
Think of it more like a realignment.