You allocated close to 1B for severance for this year, come on and hit that goal!!!!!
Don’t let yourself look bad!!!
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I was told to slow down layoffs because the reserve is nearly entirely allocated. This could be due to several things: more employees laid off earlier than finance expected (when the reserve was taken last fall), more employees with longer tenure were laid off (longer severance packages), more employees taking severance rather than relocate. All of the above suggests that finance botched its forecast. Now the weird situation is that CEO is still demanding expense cuts this year but it'll end up costing more in the short run (which is all they really care about). They can start chopping risk and compliance jobs as soon as more consent orders are terminated but that might not be until next year.
How much of the accrual is still left??
Do not worry. If there is one thing this CEO knows how to accomplish it is laying off workers. Haven't you been keeping up with how well he has done? Look bad? Quite the contrary! You can take it to the bank. If this chap has allocated 1B for severance you can bet your bottom dollar, not only will he meet his target he will be gleefully smiling as he reports to the BOD's on just how good he is at meeting goals.
Relax! You will get your package, guaranteed!