Hearing there were leadership calls yesterday where people were briefed on large scale layoffs. Anyone heard anything about this? Seems like every sep/oct massive changes happen here!
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@bz 2 weeks for what?
I heard today people where already told 2 weeks in a east coast market
What’s teams? Cmon ppl
@bj couldn’t agree more. You absolutely hit the nail on the head
@bc Just FYI, we didn't even have "meetings" when the divisions were annihilated. Just one randomly scheduled pre-recorded SVP announcement, and then wild speculation for a few weeks until you got an official email.
It's been said over and over again, on this board and everywhere else, how toxic leadership is here, and today is another example. At 11:10 AM, Comcast's CFO stood up at the Goldman Sachs conference and told Wall Street the company is embarking on "the largest cost transformation in the company's history," with more to come. In that same session, he also delivered a broadband outlook bad enough that the stock fell roughly 7 to 8% by midday. Two pieces of major news, both landing on investors first.
Employees didn't hear any of this from leadership. We heard it from financial news coverage of an investor conference.
If leadership actually cared about employees the way they say they do, this is the kind of thing you tell your own people first, or at least at the same time. Instead, Wall Street got the news and employees got left to find out secondhand. That's not an accident …that's a priority order. Wall Street comes first. Employees come after. We keep hearing about how much this company values its people. Days like today say otherwise.
@bc i wouldn’t be throwing out dates you have no idea about.
Given that we are getting paid the last week of September I would imagine there would be layoffs happening, October 5th-9th with meetings happening October 6-8 (Tuesday-Thursday). I am hearing ALOT of people talking about it on the corporate side. Like its everywhere today during the Eagles Pep Rally. I overheard that I cannot afford these sweaters right now because of the "layoffs" coming in October. This is the WORST KEPT SECRET EVER.
@ax and don’t you think that leadership should have learned from then? It just goes to show they don’t give a damn about the employees. Anyway. Glad they’re willing to show the same lack of leadership and empathy once again - I’m sure employee morale will shoot through the roof with a repeat of last year since that “went so well”
Goodbye all support roles
@av I mean that's kind of how the division thing went. Yes we heard it first hand from SLT, but there was no plan. If I would have known that I had like 7 more months of pay after that announcement it would have reduced alot of stress
Jesus Christ. Who thought going to Wall Street first was a good idea? Now your employees hear it second and third hand and will be anxious for however long it takes for you to solidify your “transformation plan”
Honestly eff this “leadership” team. I’ve seen stronger leaders in peewee football
@ar Yeah, on the call Jason Armstrong said they have “embarked on the largest cost transformation in company history that will ultimately end up in billions of dollars in savings. This includes eliminating layers to get to faster decision making, more to come in the next few weeks”
Hmm sounds a lot like the removal of the division almost exactly a year ago.
The Golden Sachs call today mentioned eliminations and reductions. Does anyone have timing on when this will happen in October? I heard from some people who mentioned it to leadership that they got visibly nervous.
Will the layoffs hit the leadership level or will it just continue the theme of employees paying the price for a losing strategy and leadership team?
Good luck yall. Was brutal when the division layoffs happened last year.
With all this flurry before official announcements, I wonder if the division eliminations are still the best kept “secret” leadership has ever managed to pull off
Orgs impacted?
Heard the same, have to assume it hitting certain BUs harder than others but I'm sure we'll all take a hit.
@OP I heard that from a senior leader this morning as well. Should have announcements happening today.