For those of you that said yes or are considering it for wave 3, major policy shifts are coming. Stick it out. Move if you need to.
after wave 3, manager policy will change:
The more they take away, the less hours I work. I like the free time.
“If they cap or eliminate bonuses that effectively a paycut.”
False. Your base pay is your pay. Bonuses are bonuses, not your base pay. You aren’t entitled to your bonus. You aren’t entitled to your job. You are entitled to nothing. Because you don’t know that, you deserve to be thrown on the surplus list.
“I haven’t heard about 30 days, but I have heard that bonuses will be capped or nearly eliminated”
If they cap or eliminate bonuses that effectively a paycut.
So they’re going to rework the target values for developers L2, L3 that are set in our contracts?
That’s a paycut.
I haven’t heard about 30 days, but I have heard that bonuses will be capped or nearly eliminated
This is certain: The individual piece-parts of this business are worth far more than the corporation as a whole. At the conclusion of this right-sizing effort, which is exclusively meant to make it more attractive, look for the mergers and acquisitions to start. Hold your stock because when that happens, this pile of sh-t will finally be worth something.
https://www.nj.gov/labor/assets/PDFs/WARN/NJ_WARN_ACT_2023law.pdf
if NJ WARN is triggered (50+ people) then by NJ law employees must receive 1 week pay per year of service and receive 90 days notice.
To the nut job that posted about state laws, show me the severance laws.
You can tell this is horsesh-t because its not based in reality.
In the event of a layoff, and not individual firing: severance is based on your state's employment laws. The 'cap' is based on your years of service. A cap below the state's minimum is straight up illegal.
Can confirm this is true. In the next 12-18 months RTO will end after hitting the headcount reduction goal. The next cost cutting plan is to fire sale all owned real estate and break leases on offices other than Dallas, Atlanta, and NJ. I heard in order to keep a designated space in one of the Hubs you will need to have 5 day office attendance. Others will return to virtual. Those outside hubs will have a choice to move or be locked in your current role until replaced in a Hub.
I wouldnt doubt it goes to 30 days. Years ago the payout for 20+ managers was 100%, around 2012 there was a layoff, managers were paid the 100%, then soon after, they capped it at 50%. So anything is possible.
T has a market cap or net worth of $132.79 billion and over $120 billion debt.
Stacking checks, waiting on the call, quiet quitting culture is pervasive, employees are doing the bare minimum to comply with mandates because we no longer trust upper management, too many lies and bad decisions that have become life altering for many.
I don’t see any changes in the status quo until 2026. Leadership has already said as much in their public guidance financial interviews and statements. They have committed to Wall Street investors to remove 2 more billion dollars, in addition to the 6 billion cost already removed from the business. They have done it mainly through layoffs, benefit reductions, policy changes (off payroll 2 weeks), asset sales, consolidation and decommissioning equipment, it will continue through the end of 2025. Buckle up and see how long you can ride before getting thrown off.
I believe it!
I’ve heard about the 30 days thing too. How messed up would that be? Wouldn’t put c suite past it though to keep their jets flying
No one is safe
"Severance package being capped at 30 days is brutal. Hoping that isn’t true."
It isn't true.
I think a poster here meant to say, aug 2024 letters, jan 2025 off payroll, but what do I know.
I believe severance cut to 1 month is true. They want to limit payment to $0 for layoffs, and have people resign .
Source is ‘I made it up’ a lot like the ‘time tracking 6+ hours in office’ that never materialized due to the fact that no one I know stays after 1-2 and I barely get 1-3 hours and I still show up as compliant.
“This post is a lie. There are no changes to severance or vacation. In office expectations will soon be 5 days per week across the board.”
Source?
“2024”
So they’re going back in time and firing wave 3 employees in the past?
Sounds about Stankey.
For reference since it seems you have poor reading comp, he said “out by Jan 2024”
It’s June 2024 right now, Jan was ~ 6 months ago (I list it out like this for all you in Hr cause we all know you struggle with very basic concepts, like time and calendars which is why you’re ’people persons’)
This post is a lie. There are no changes to severance or vacation. In office expectations will soon be 5 days per week across the board.
“And I’m guessing you mean 2025.”
2024
This is total bs because virtual won't be back anytime soon. That would be stank admitting defeat. He would never do that.
Total BS
It is only getting worse. Who will want to work for such company? Good luck with hiring new talent. Oops, forgot new talent will be hired in India. Only C-suite will stay onshore.
“August declaration letters. Out by Jan 2024”
Source?
And I’m guessing you mean 2025.
Severance package being capped at 30 days is brutal. Hoping that isn’t true.
Heard new occupancy types by year end
As long as these creepy dudes want to have everyone in their own office ready to jump, they’ll never let us work from home. They think we can’t be productive at home because their jobs involve bothering people in person. OUR JOBS DON’T.
When severance will be changed to 30 days?
“When is wave 3 taking place?”
August declaration letters. Out by Jan 2024
Godspeed
That was expected. There is no other benefits they can take away from us.
Virtual is not returning..
When is wave 3 taking place?
😮