How likely is another round of US layoffs at the end of 2021? (non-PIP/PIL)
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10-30% reduction through a combination of PIP and layoff will continue for the next 3-5 years. Numbers tell the story…..the company is in too big of a debt ho-e.
@rbe+1c56Bg6Q or others - can you give more details on the HW3? I keep hearing about it but when I ask at work in company forums people just explain what TMTS is which is old news. TMTS is like 30% - 50% reductions in certain technical roles supporting downstream until 2025. What are the targets for HW3 and what groups will be hit (I imagine EMRE, corporate etc)? Cheers.
@rbe+1c56Bg6Q The point with GREF example was you never know when the untrustworthy mgmt. would pull the rug from under you OR throw you under the bus for to continue to warm their pockets.
All determines by results (cash flow) and "the plan"
@zmm GREF E&PS folks were paid a good sum of separation package and many of them came back to work in the same office the day after separation, just with a different colored badge. The ones I knew, many walked away with >$200k and are still working in EM office now. They were the lucky ones… so lucky.
For the folks who are HW3’d this year and soon, will they get anything? I doubt. And HW3 is effectively the same thing as GREF
However they're going to cut 10% every year for the next 3-5 years, that's the goal.
Attrition in EM India is more than the layoffs. It seems like when the office resumes in September only supervisors and managers will be there.
I think we lose more to attrition than layoffs this year.
Yes, but it wont be announced like 2020. Ask GREF, now E&PS as to what happened to them in 2015/2016.
Yes
Not likely