Atleast now can someone share the criteria behind selecting the names? So who is next on the list?
We lost some brilliant people from our team, the criteria couldn't have been performance. Will there ever be transparency at this place?
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Nobody who knows would tell you because management wants you to keep working. It was probably level of position, closing offices in certain geos, and pay rate. And maybe desire to work from home.
It is not knowable, but you're not a victim. Look at job postings and see how competitive you are; look at required and preferred knowledge, skills, abilities and experience. How are your communication skills, both speaking and writing? Communication reflects one's ability to engage in critical thinking and problem-solving. Are you a learner, flexible, adaptable?
How about education? Training? Certifications?
How are the financials of the companies that are hiring? How are their employee reviews on Indeed? Are you willing to move for a better job?
Work on any gaps in your competitive hiring. Good jobs will get 100+ resumes. Will yours go to the top of the stack? Why or why not?
Fix any gaps now, it will serve you in your current job, make you more employable, and get you into a proactive, responsible position versus a victim mentality, free you from wringing your hands all day worrying about the next layoff.
Don't like waiting for the next round or layoffs (each is always the last)? Fire Schwab and get a better job at a company whose stock is going up, not down 35% YTD.
As a c-level management consultant of many years, including the 2008-9 financial crisis, Typically CFOs decide based on past and future business unit performance, geographic plans, org chart level and possibly on who filled a form saying he or she wants to work from home. Rarely do they let managers decide based on employee performance.
Take extreme ownership of your employ-ability each and every day. There is no loyalty except yours to yourself.
BCG consultants coked out of their minds threw darts at a wall with names on them.
One: It is possible that an outside firm was used specifically so that the criteria would not be known internally. Two: Exercise caution in placing your faith in information provided on an anonymous board. Three: There is no guarantee that the criteria used in this layoff will be used in a subsequent layoff.
Boston Consulting Group decided.
Don't know if this helps, what can you believe anyway:
"The Federal Older Workers’ Benefit Protection Act (OWBPA) requires that when a group of employees is asked to sign a severance agreement which includes a release of claims in connection with a group termination program, those employees 40 years of age and older must be provided with certain information, including the class, unit or group of employees covered by the program (“decisional unit”); the eligibility factors the Company used to determine who is eligible or selected for such program; the applicable time limits for the program; the job titles and ages of all employees eligible or selected for the program and the job titles and ages of all employees in the same decisional unit who are not eligible or selected to participate in the program. ...
Eligibility Factors: In determining who should be retained and who should be selected for termination, the Company generally considered one or more of the following factors: business and staffing needs, management structure, relocation of work, integration of departments, systems, platforms or processes, conversion of accounts, reduction in business/workload, change in business focus, and assessments based on performance and skill sets. Note that all eligibility factors do not necessarily apply to each employee selected."