There seem to be those who think CS has no choice but to cut people and mostly those who work the hardest... Some of my colleagues who were laid off were cut only because they were a little more expensive... No, CS has other options, but is not considering them...
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When you understand that there is no spoon, you realize it is not the spoon that bends, but it is your own mind that finally bends,. What choice do they have? They chose wrong. They tried to bend the spoon, instead of their own mind. Q.E.D.
It is all about reporting to the board and shareholders that they have reduced revenue - despite the fact that they may make themselves hemorrhage from the inside out. They are trying to keep doing what they do but with less people - they don't have the automation yet to keep up with lower head counts. I am sure if you get the fine details conversion date is probably still two years away and a slowly moving target!
Bingo. I have seen first hand that many of the jobs they are cutting, they will retitle and post to hire in a different city.
You are absolutely right. They could take some of those people and reposition/retrain them into one of the 900 jobs they have posted. Instead hire someone new in because they can try and pay them less. Or better yet post the position they just eliminated with a different title and try to hire in another city. Instead of making people move to Texas they are laying off and rehiring to avoid a big news event