(VBG)Normally with larger RIFs we're instructed to cut a dollar amount from our overall salary pool; do it however you want....if there are 2 higher salaries in the team you manage and they can be cut to achieve the $200k reduction as opposed to 3 less-tenured bodies you can do that if you want. This time around, at least from my peers, we're being told a body count instead...(ex)you have 22 in your group, you need to cut 6. That does help with the reduction of overall spend due to benefits etc, but it is a change to the norm.
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"Interesting, rumor always had it- that it was a 3rd party that determined who got rif'd."
... No, it is determined internally.
Took the 2017 package and never looked back. I haven’t been on this site in years but felt compelled to drop in after seeing the recent stock price. Some things never change. Good luck all…I promise you there is life after Vz.
I heard there rounding up all management and hans personally is doing cavity searches
@1yth+1j1mg9JQ --- VCG was hit a few months ago. Essentially the formerly known as Customer Service org.
Of course the goal was cutting costs and from that single lens it was a roaring success. What made it so bad was that the leadership lied through their teeth and spun it as some kind of positive business transformation. They spent Millions of dollars paying Boston Consulting to come up with this brilliant plan (Hey remember when we made everyone reapply for their jobs? Yeah… that was awesome). You had highly tenured and credentialed employees suffer the humiliation of essentially begging for their old job back. That single event did more damage to employee morale than anything I have ever seen before or since. Just have the ba--s to say you are cutting costs and don’t hide beside the recommendations of consultants who have no skin in the game. The drip, drip, drip of these kinds of mistakes is what ki--s a company over the years. You lose your employees and you lose the game.
The package offered in 2017 was known at the time that many folks may decide quickly or down the road that the grass wasn't greener and they would rather stay with what they know, but when they returned they were largely brought back as contractors tied to specific opportunities with a specific start/end that could then be revisited. They came back at a higher base but had no benefits(vacation, holiday pay, 401k, full insurance package(this could be negotiated w/salary)) and the company saved millions of dollars by converting those folks from full-time salaried 'managers' to contractors w/no benefits. I'm not commenting on good or bad or moral or whatever, I'm just saying that was the strategy and it was successful from a standpoint of getting payroll/benefits off the books.
For those who make it past the RIF, maybe you’ll be lucky enough to have your position posted externally and get a shot at re-interviewing for your own job. Yes this happened back in 2017 to Finance personnel thanks to spineless leaders in VBG following the Boston Consulting/ Office Space playbook on business transformation. It transformed the business alright, by creating chaos and absolutely ruining morale. Most shameful thing I ever saw in my long professional career.
We could lose another 25% and move people around
I’m a follower, but my leaders empower me.
I’m a leader in VBG in CA I was told to cut my team as well. I can second the 10/27 date. As a leader…I’m disappointed and will be leave with the ppl I have to let go. (shortly after).
Sorry
You mean “Leader”.
@oul -
“I have 8 reporting to me at VBG and was told I need to go down 2. That’s a 25% reduction.”
Another manager who’s no math major.
Wait, wasn’t VBG hit a few months ago? If so, WTH are they going through this circus again?
@op are these all areas of vbg?
Meaning sales, sales support, engineering, product mgmt?
Appreciate the post and any additional information.
Vbg seems so fat right now and it’s not surprising. They seem to have unlimited money to throw at reps and customers to close biz deals, it was only a matter of time.
I have 8 reporting to me at VBG and was told I need to go down 2. That’s a 25% reduction. Employee communication must occur before noon on 10/27.
Open up wide here comes the 5yeee
Interesting, rumor always had it- that it was a 3rd party that determined who got rif'd.
They should ask for volunteers first, then layoffs follow
Much higher pay grade than me. Didn't get a percentage or salaried amount, this time didn't get any info that we would get x bodies back as new contractors,(VZ pushed hard for several years to get full time salaried/benefitted employees out and then replaced w/contracted workers tied to an opportunity/revenue for however long the contract is, then contractor could be let go or re-signed if there was a new opportunity) none of that this time. Just got a body count for my team. Percentage probably is getting figured out somewhere and may depend on total responsible revenue or whatever, may be based on what's in the pipeline, etc. I am not privvy'd to that.
What determines body count? Is it a percentage?