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Lay off a bunch of managers
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Cut the 401k match and move company match to Dec 31st
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Take away all managers bonuses
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Close several offices- locations
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Increase health deductibles to an unaffordable amount
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Rebadge employees in prep for their elimination in a few months
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All the while our core leadership doesn’t say anything- just acts like it’s business as usual
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Wait for the next shoe to drop- won’t be long- any predictions?
6 replies (most recent on top)
To the person who won't give 2 weeks notice, STOP! What will your new employer think of you? It is never wise to burn bridges - who knows when you will cross paths with your local management again. Besides, you might need a reference. I know you're angry, hurt and can't wait to leave, but do it the right way, for yourself and your own self esteem - it's your future after all, not just about sticking it to Xerox. And this is coming from someone who was laid off in 2018, by the way.
I don't think many, but is coming including myself I have several interviews lined up within the next week or so. Will not give 2 weeks notice lucky if they get a week. The brown nosers can do my job. Oops they don't know how. Oh well not my problem.
7 is the most bothersome
Saw this article about "rebadging", here are some interesting points
b. Second, “re-badged” employees commonly experience restructured functions and responsibilities. As you might have guessed, new management means new managers, who have their own ideas about managing. It’s for this reason that there is frequently a degree of “upheaval” in functions, reporting lines, and responsibilities after a re-badging effort.
c. Third, many re-badging efforts involve – sooner or later – reduced compensation and benefits. Keeping in mind that a primary motivation for re-badging is to save money, don’t be surprised to see – sooner or later – lowered compensation, lowered benefits and lowered number of days off, vacation and sick time.
Be especially mindful of how working for the new company may negatively impact such things as (i) calculation of years of services for many benefit and savings programs, (ii) loss of stock or stock option vesting in the former employer, and (iii) even, potentially, the loss of eligibility for benefits given to people by way of law, in the U.S. including what we call COBRA, Family Medical Leave Act, and even unemployment benefits
d. Fourth, while many “re-badging” efforts provide assurances to employees of a certain period of job security, most re-badging efforts end up reducing overall headcount. In many instances, “re-badged” employees are offered assurances of continued employment, because the former employer does not want to have all of its experienced employees depart after re-badging. However, over time, the new employer will likely decide who they need, and who they do not need, to fulfill their contractual obligations as a “rebadging vendor” to their “re-badging client,” that is, the former employer. It’s for this reason that re-badged employees are likely to experience a lowered degree of job security.
Not many refused because they live paycheck to paycheck and really had no choice. They will hopefully find jobs quickly and while still here just hang out, do the minimum and get a paycheck.
I wonder how many people refused to sign over to HCL?