As November ends and December begins, what are the odds of more layoffs before Christmas?
Management’s cruelty knows no bounds and they have terminated people with an effective day of Christmas Day before. They have ruined lives and enjoy doing so. Hence I don’t put anything past this evil mob.
Anyone heard of any last week?
@1k6 incentive. Bru, they pay out senior employees a lot in LTI. No more kids in private school and no mortgage. The payout is magic. I’m laughing at the “leadership” stooges who had me offsides. Who wants T Rowe shares anyway.
What is LTI? Sorry! "Long Term..."?
@1be it’s hard for us foot soldiers to get a good job in this industry. However, it’s probably harder for the investments staff and senior folk to get similar jobs.
@19p essentially the higher you are, the higher your payout. Unfortunately this company takes way more care more of senior folk than rank and file workers. In London there’s been a few senior departures through the years and I reckon they got paid out really well. Same can’t be said for the more junior associates.
@1aa sort of not true. If you have a lot of annual leave + have a lot in LTI + are senior + have been at the firm for a long time, then the payout of a years’ wages seems plausible
@1aa yeah I think the person they laid off would have to be senior as well, as they got LTI. I think LTI has to be paid out in event of a lay off.
I don’t think many individual contributors outside investments are getting a years’ payout
@19p you must not be in the U.S. No one in the U.S. gets more than something like 3 months’ salary altogether (unless they’re executives/management committee, though who knows what those severance packages look like—I honestly don’t even want to know).
@18h Unfortunately I laid someone off earlier this year. It was generous, with elements of LTI and bonus thrown in alongside notice period, pension contributions and a severance amount. Was around a year's salary when all added up.
@kj pro-rated to what? To target bonus? No way.
@qk global DS are as good as gone
Are more of the Desktop Support staff internationally going to be laid off? Or are they immune from the Accenture outsourcing?
@pj YES and there’s huge contrast between senior staff and everyone else. The senior ones all look like they get a nice negotiated payout for more than everyone else and they are able to put a spin on in like he retired or she is taking time off to pursue whatever. Most of us don’t get either the big payout or the kindly worded exit.
@pe I believe it depends on country and perspective. I think the payouts are lacklustre. I’m not in America. The formula that people quoted in other posts seem close to reality with bonuses not paid out pro-rata unless close to Christmas time. It’s hard to get a good job in this industry though so I don’t think it’s enough to sustain a lot of people until they find their next role. Just my 2c.
@p3 yes, I believe so. Look, I have plenty of criticism of the company but they do provide a generous severance package. They legally could give you nothing, after all, which is what most companies do in the U.S.
@kj ummmm, are you sure? Even for the poor souls cut earlier on in the year? I thought the company was brutal and cheap
@g5 there is a pro-rated bonus in the severance package, to my understanding.
@k4 tis the season… for layoffs
@OP I think we’re likely to see some more layoffs between now and the holidays. Happy Hanukkah!
@f6 I don’t think many people did, especially those that got laid off in July
I was thankful my bonus went up slightly this year, but I worked my butt off. I feel like I cannot spend much of it as I don't expect to be working here in a year. I think they need our team a little longer as it would be a cluster trusting Accenture to do what we are planning to do in 2026, but the expectation is that once everything is up and working and been tested out we will be handing everything over to Accenture so they can babysit it. Hopefully there will be enough "knowledge docs" for them to "fix" issues. The real fun starts when those people are expected to come up with solutions on their own. The whole thing is a depressing thought to head into the new year with a sh**y job market. Nothing like feeling like your whole world could be turned upside down at any time at this place.
@d1 It's generally within the overall severance figure.
@at laid off around Thanksgiving? Surely not? Heartless
@at we talk in a few/several/dozens from a team?
Speaking of end of year and bonus time, did the people that got laid off in the past few months get any bonus paid out?
@at which teams had layoffs last week?
Highly likely and it won’t be made known to all associates like the layoffs last week.