Thread regarding American Electric Power Co. Inc. layoffs

EXECUTIVES do communicate to us - the "score card" is very important, because the higher the pay grade, the higher %ICP for your compensation. And more company stock you own. So I have heard plenty of communication about the numbers, profits, anything to do with making the rich richer. Why would you want to know anything else?

I am thankful for my salary and benefits. Its the change in culture, focus on profits, since the board let execs go & fired Julie, that is most noticable. It feels a lot more like I'm a number at the bottom of the pay scale than it used to feel under Nick. Employee engagement is suffering as a result and the point is, as Phil & Bill have said, "we don't care" about you, we care about making the board and stockholders rich.

This is so real! And I’m glad it’s not just me feeling like I’m asking for too much. Last time I checked, we’re all adults that signed contracts to be here. Why does it feel like we’re constantly placated to and leaders are pacifying us out of frustration. I’ve been here over five years and have NO idea how to describe what my org does and where we plan to go. Turnover aside, there was never a plan or even concepts of a plan. It’s mind-numbing.
Oh and heaven forbid I quit - then I’m an impatient millennial who doesn’t understand and isn’t willing “to squeeze for the juice” heavy eye roll

The situation is so bleak here that a simple request of communicating with the rest of us seems like a Herculean task for our "leaders".

We have no leaders. We have yes men, who are lackeys of major shareholders and little more. The sheep are herding the wolves and we all know how that ends. Let the feast begin. Lamb chops anyone?

@OP 5 years ago when Therace came in, she brought with her a bunch of her lackeys, many are still here so I won't name them. They first said the would have TCS act as our "second and third shift, and callouts" so we would only work on issues during business hours. That was a complete lie from the very beginning and they knew it. They said they were blind-sided by the decision to let go 50-75% of the ops teams.
What I learned, don't trust managers, period. They are either kept in the dark as well or they are in on whatever is coming down the pipe in front of the fan.
Do your job as best as you can. When management tells you something, think of the worse out come and how it will affect you. If it doesn't happen, be surprised by not having to deal with the worse outcome. If it comes true, you know you were right.
Above all else, don't trust management.

@OP there’s a plan - they just don’t want you to know about it

It's a management choice, there are pros and cons of being scarce or vague on issues important to the worker. you gain more control if you communicate less but you lose trust. it affects culture too, in a negative way. it all boils downo to who you are as a leader and what kind of org you wanna run. the choice at AEP is obvoious, with all good and bad that follows it. I'd say we are beyond repair at this point, it'll take decades before this is fixed at some level. the trust is lost.

Yes, some hedge fund activities can negatively impact ordinary people, while aiming to enhance profits. Here's how:

1. Weakening Worker Conditions:

Activist Hedge Funds: Some hedge funds become involved in a company's management and pressure them to maximize profits, often by laying off employees, outsourcing labor, or streamlining processes that weaken workers' bargaining power.
Driving down Wages and Benefits: These actions can lead to lower wages and reduced benefits for employees. This is particularly concerning given that many workers, especially in sectors targeted by such firms, are already facing economic hardship.

2. Exacerbating Economic Inequality:

Vast Wealth Accumulation: Hedge fund managers can amass immense wealth through lucrative fee structures and strategies that yield high returns. This contributes to a widening gap between the wealthy and the general population.
Focus on the Wealthy: Hedge funds primarily cater to high-net-worth individuals and institutions, further consolidating wealth among a select few.

If you are not immensely wealthy, you are just a labor resource to be exploited to further enrich the immensely wealthy.