Believe it or not, that’s what our Network VP told us today in Basking Ridge. There goes JD Power next year!
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Let's not forget what you are getting in benefits on the calculations. Usually bumps the yearly way up when you add in insurance, 401k match, etc.
The $10BB savings is not Labor in and of itself, Labor is one of the many ZBB "packages" for cost savings to come from. My understanding is that the 3-year Labor package is around $3.5BB - $4BB range.
So the $1.5BB in 2018-2019 may but not be far off target
To work for is what I meant...not necessarily on a performance basis.
Network was the best group in the company until about 3 years ago. Now it is the worst as reflected by these numbers.
@cet wow no one was a taker out of 40? That must be a great situation. The two groups I checked were around 15 each. None were subject to infosys, although I would bet most anticipate outsourcing next year. IMO this greatly tipped the scales in favor of vsp for many.
@WeNESC0-pha How big are those iT groups with 70+ take rate. My group(under 1 Dir) is around 40 and no one has taken, 2 were rebadged to Infosys
@tyt, you just told everyone your salary is 115k, including bonus. That's definitely not high, even if your not including bonus. Also , you should use 225k for avg fte loaded rate, which yields 3b annual savings
@tyt that's only network and it's dubious to extrapolate that to all groups. Even if it were all 44k that wouldn't save $10B by itself after hiring replacements.
I know some IT groups had a 70+ percent take rate just from personal polling. Spitballing I'd say it will land somewhere in the middle and roughly 20k will be eliminated.
If the 44k number is true, then that means 13640 people +/- volunteered. Using a moderately high salary (mine), that is about $1,568,600,000 savings before the offset of hiring lower paid folks... Far cry from the $10 billion they want to save. I don't get it.
Confirmed
that s---s....Hope those guys are useless...