I’ve never been fearful until now. This pandemic has screwed everything up economically. I am somewhat prepared, but I have family and friends who have been laid off in various industries and they are all having a difficult time finding employment. UI isn’t enough for most of them and I am scared to death that rumors of a layoff ahead will be a reality. God I hope this isn’t true. Good luck everyone.
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Sorry to hear! Once again, tenure, knowledge, loyalty mean nothing. I think the question isn’t whether lay offs are happening but if they’re over for this cycle & what has been the impact. Segments, locations. Definitely understand why people want to keep it quiet for severance purposes. At least after 20 years, you should be ok for a while.
I was one of the ones laid off in this round - after 20+ years with TR. I can't say much more because I can't jeopardize severance, etc., but confirming that the rumors of layoffs again are definitely true.
Any new actions week of 11/16 and if so, which group?
It wasn’t the pandemic that screwed this company, but greedy shareholders and a clueless and ineffective management. Things won’t be changing soon. A leopard doesn't change its spots. For those of you who have an opportunity to work elsewhere, take it. You won’t regret it.
Any updates? The vagueness and lack of specificity with respect to some of these claims is unhelpful. Need to know segment and location affected. There are over 25,000 employees.
To the person who got the news: They’re not even letting you finish the year out? Although it’s difficult to do, that gives you some extra time to look for jobs, save etc. are they letting people reapply for positions?
What department/ team?
They seriously need a new model. Those who don’t get let go this year know that it could be them next November. This has got to be one of the worst ways to do business.
Sorry to hear that. Wonder whether the layoffs will include the front line low paid sales TM’s who are bringing in the money to TR. Pointless at so many levels if so
I was told this morning that my position was being eliminated. My supervisor said hers was as well, which is sad. I heard others on my team got the same news but I was told to take the day off to "process" this (which I haven't), so I don't know who else was laid off. My last day is Friday before Thanksgiving. I truly hope this is a small layoff and wish my colleagues all the best...
Can someone explain to me the logic of continually having large cuts to front line people who actually do most of the work. Year after year senior management, especially in Tax, have set unrealistic goals and failed, but continue to survive and select who the next people to be sacrificed are. From a numbers standpoint, the bloated salaries of failed execs should be the first ones to go. I thought the new CEO would see right through this, guess not.
How long is this supposed to go for? all week? its like sitting on pins and needles
Legal Elite
New York
In which TR segments are there layoffs?
Wow. I wonder why Tuesdays seem to be preferred. I remember this stress. Good luck everyone.
Yep. Started this morning.
The rumours are true and layoffs have commenced in AEM.
Sorry to confirm your fears. Layoffs are happening and they started. We had two people let go today and heard more coming. Good luck
Wonder how much the dipping stock will have to do with any pending layoffs! The vibe from those on the inside seems to be healthy and business as usual though
Layoffs happen every year it's rather normal. Don't think it's not gonna happen. Just hope for the best stay prepared and assume it may happen be excited when it doesn't. That's how my outlook has been the last 5+ years.
Discussions and decisions are going on and have been made and now your "friends" in HR are putting the packages together. Heads up, if you get a meeting invite out of the ordinary with your boss and/or HR, then prepare yourself.
I am holding out hope that the senior managers who have led this company into this situation of annual layoffs get what is coming to them. I always thought the goal was to grow the organization and these folks were put in place to do just that, but year after year after they fail, they stay and others take the fall. It's about time the axe falls where it should, fingers crossed.
SYNERGY is next week. If the November layoffs do happen (which are almost unofficially codified in TR’s culture as an annual occurrence), it’s my opinion that they won’t begin until the week of 11/15.
They need all hands on deck for the user conference; we may see changes and movement after that.
There is definitely life after TR so you will be ok! I know it’s easy to say because it was hard. I also had to find a job during Covid. I’m not still settled on where I’ll end up but I’m at a good place right now.
And maybe there won’t be lay offs this year. It could be all done already. They could decide that everyone has gone through enough this year.
You will have severance and bonus too so that should buy you some time too.
Hopefully only rumours than anything real or substantial seeing as financials are healthy and there are no open short term plans to sell any of the businesses?
UI isn't meant to be enough to live on. Frankly, the extra $600 week that was previously given was unsustainable and a deterrent to finding a job for some. It's tough. Back in 2008 I was unemployed for 14 mo's and back then there was only a $25 UI subsidy from the fed. govt. I was only able to find contract work when I went back and not regular full-time work as an employee until 2015 - so, 4 1/2 years. You will survive but it won't be easy.