Other companies can get rid of 5,000+ in a single day. It would be nice to get this distraction out of the way. Why not hire some temps to help with the HR bottleneck, rip off the Band-Aid and get this over with?
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@1fk
Layoffs are an art form.
Layoff enough to boost stock price ("efficiency"), but not too many at one time ("oh, no! company is in trouble").
I know of sites that had no badges as recently as 5 years ago. So yeah, I'm guessing there were some in 1994.
@1phw+1rv9cD2w You think there were no badges in 1994?
Badges, in 1994?
"Leadership doesn't want all these layoffs to get attention. If we laid off 20K in a day it would certainly hit the news cycle."
This right here. It's the optics. Well, that and the financial part.
Otherwise all of you would have been out on yer *ss the first day.
Don't whine, back in 1994, the first layoff, you were herded into conference rooms, you had to surrender your badge, and were sent with a cardboard box to clean out your desk. The rest of the team members were sent home so they didn't have to watch.
and you got 2 weeks severance, period.
ah, good times......................
I think they have done this layoff/offshoring transformation beautifully. They give an obscure reason, "increase efficiency", during the quarterlies and then proceed to layoff/offshore the business execution consultants, the enterprise architecture team, and risk compliance. This is done by enacting a "location" dictate, strict RTO dictates and all kinds of actions portrayed on this blog.
I suggest you go to this website and enter the country India filter.
See where your jobs are going.
https://www.wellsfargojobs.com/
Dragging it out to torment employees drives voluntary attrition, hence HY intentionally making the process and painful and horrible as possible.
What? Layoffs are good for stick prices
HR was hit with layoffs in the first wave and replaced by a vendor in India.
If half of what's going on were in the news, the stock would tank. Lay off slow and steady to avoid the publicity.
Plus, they still want people to leave on their own accord to save severance.
Leadership doesn't want all these layoffs to get attention. If we laid off 20K in a day it would certainly hit the news cycle.