Is there any reason to actually believe layoffs/reorg is postponed until mid November? I'm seeing that in a few posts, but that just feels ridiculous. For those who've suggested it, can you elaborate why you believe it would hapoen layer than the next 2 weeks?
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Early November is my bet. I expect leaders will want the HR enrollment done, next TG work done for the year, and AS Impact over and done with for advisors. It keeps it more tidy. Then there is an "apparently clear" runway where it may seem like a "good time."
It’s clearly going down 10/17. Just open your eyes and snoop around a little.
Thanks everyone. Appreciate your helping me understand. What does Impact mean? Should impact be before or after layoffs?
this thread has the best info on timing: https://www.thelayoff.com/t/1p23QFBK
October 17th seems to be the day with the most support that it will start then. doesnt mean it will end then.
@acu+1p3eGOgG if you are talking about the earnings call this coming monday, you need to register to attend it externally.
in a previous thread (the one about october17th) there is a link to register for it.
I dont have anything in my outlook for a corporate update. Anyone have details?
@spu+1p3eGOgG ive heard it from a few partners in comms that events like IMPACT werent a factor in deciding the date, and trying to base it around any specific event wont help make it clearer.
Whatever the date is, it wont make sense from an event "timing" perspective. So take that as client transition, impact, the earnings call, etc.
I have been told that we will be getting more information on Monday with the corporate updates.
My guess is that it will be Oct 30 because AS has their biggest conference of the year during the week of Oct 23rd with lots of press. They also publicly announced it would be in Q4 and absorb the costs in 2023 so I think the last day they could do it would be Nov 1. At least we are getting close- it’s been such a distraction and source of anxiety. Just get it over with.
@vde+1p3eGOgG yes. there is already an entire thread backing up the 17 October claim.
That thread also has a link to sign up for monday's earning call which will probably shed more light on the matter too.
Re-org might happen mid november but layoffs will be before that.
for multiple reasons, the absolute last day they can do it is 3 november. It might be in waves, or by org, but make no mistake it will all be done by that date to keep in on the books for 2023
There's no way that they are going to put people on benefit plans to start the year, only to let them go a few weeks later. Plus that's another large cost if they kick in $250.00 to each employee's 401k plan and $1,000 to each HSA plan. That's over a million dollars (for a few thousand employees). Why do it?
Getting awful close to November integration. It feels like it’s either next week or not till mid-Nov if you actually care about the clients moving.
It will be known as the Halloween massacre….
Our headcount has been the same for a week, this has not happened since the layoffs were announced. Kinda peculiar.
If they do mid-November they can’t realize the cost savings by year end since they need to keep the employees on payroll for 60 days. If they did it after October then the pay period will end sometime next year.
The layoff date will be 10/17, next Tuesday. Multiple sources have confirmed this already.
No one knows anything. Till it hits you when it hits. Expect today is the day every day .