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what people need to understand is this happens every single day. most are smart enough not to use zoom to do it but every day large corporations made decisions to reduce headcount by the hundreds and they gather the employees on conference calls and tell them how difficult but necessary it is to lay them all off...
Then the company issues their executive team piles of stock options, then spends billions on stock buy backs and everyone (but the fired employees) make out like the bandits they are.
I can only understand that if it is right before a quarter ends as typically a company fires people as a way to make investors think they are caring about the "out of control costs" that effected their quarterly earnings.
That's a good point. I don't know anything about this company and never heard of it until reading the thread.
Quote:
Originally Posted by springfieldva
You would think that the CEO of all people would know that business slows down around the holidays.
Exactly. I guess he did mention elsewhere that about 200 of them were working only 2 hours a day out of an 8 hour day, but then he should have gotten rid of those 200. And perhaps he should have added people as contract workers instead of FTE's. I don't know what the answer is.
Quote:
Originally Posted by Starglow
They probably want to take the severance package cost hit on this year's financial write off instead of next year. With four weeks severance that effectively puts the impacted employees into January as far as having a paycheck to get them through the holidays.
Now is a great time to be a job seeker because it wasn't always that way when I got laid off and the job market was more competitive for limited numbers of jobs available.
I thought this was a valid point, until I read post # 28 by BobNJ1960. I don't think the holidays are ever a great time to be without a job. Both holidays and unemployment are stressful.
Having said all this, the CEO sounds like a nut who shouldn't be managing people. Perhaps doing the terminations all at once was necessary to mitigate potential damage these people could have done on their way out, or once they got word that people were being let go. It's the way he did it.
I read he once told an employee he was going to tape him to the wall and start him on fire. Sounds like a head case.
He lost three executive-level people after that zoom call and I think there will be more to come.
Unfort companies want to improve the bottom line before the end of the year.
He knew that business slows down when families are settled because the kids start school, so he really should have let them go in waves starting in September.
The corporate world is cold and harsh and this behavior does not shock me. Just the other day I had a coworker who went to our bosses because his account was not working, his account was not working because they were in the process of firing him and it actually got deleted. Our bosses put on a charade like they were helping him, instead of being honest and letting him know what was going on. It was not until the next morning that he found out he was fired, they did not have the courage to tell him to his face they were firing him.
This is exactly why I have never felt bad for leaving a job, jumping ship during the midst of a big project, or collecting unemployment paid by the old company after they let me go. The reality is your job simply does not care about you, a job is nothing but a vehicle to get what money for things you want out of life. Use these jobs the way they use you!!
The corporate world is cold and harsh and this behavior does not shock me. Just the other day I had a coworker who went to our bosses because his account was not working, his account was not working because they were in the process of firing him and it actually got deleted. Our bosses put on a charade like they were helping him, instead of being honest and letting him know what was going on. It was not until the next morning that he found out he was fired, they did not have the courage to tell him to his face they were firing him.
This is exactly why I have never felt bad for leaving a job, jumping ship during the midst of a big project, or collecting unemployment paid by the old company after they let me go. The reality is your job simply does not care about you, a job is nothing but a vehicle to get what money for things you want out of life. Use these jobs the way they use you!!
Ah, a realist, & perhaps a pragmatic anarchist, in a sense, & so to speak.
Agree it's unsurprising. It's an unrealistic expectation for a carbon-based, bi-pedal, air-breathing, flesh, blood, & bones (& so on) human being to expect a legal fictive 'person' to be other than what they are.
“listen: there’s a hell
of a good universe next door; let’s go”
― E.E. Cummings
Metaphors are lost on you I take it.
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