Update your resumes, a lot of people who thought they were immune to the BS are about to get smacked down to reality.
Engineering and data scientists are among some of the positions to be hit.. These guys will see big time restructuring in pay. Most people will see 10% all the way up to 45% less pay per year.
Sounds exactly like what just happened to me.
I am in Social Media for TMO they just lowered our pay by at least $5000 a year by restructuring bonuses. That's the down side of being with a company that won't hire you on at a good base salary and bases a lot on bonuses, one day they can rip those bonuses away.
The instant TMO thinks it can get away with making you p-e in a bottle, you’ll have a magenta bottle at your desk.
This would be a position reclassification, and would be the equivalent of laying someone off. No way there's not a "here's a package or stay at a lower pay rate". The horrendous press this would generate of lowering pay during a recession/inflationary period would be a ki---r.
"Look at Amazon and VMWare they’re hiring like crazy."
Imagine complaining about how bad T-Mobile is and then jumping ship to Amazon. T-Mobile has its issues, but Amazon bleeds workers because they treat them like absolute garbage.
So this is not performance based?
This is a good way to get people to leave the organization without paying a severance package. Nobody wants less money.
I don’t believe this - and if they do - there’s tons of jobs out there for them that pay way more. Look at Amazon and VMWare they’re hiring like crazy.