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The severance package was better than anything I ever got.
Evidently they employed 6000 people in the mortgage business; most of them probably never went into an office.
Timing was bad, but they'll be paid until well into January.
I would be really interested in knowing what kinds of jobs those 250 employees had and how they were able to disappear and not work for the better part of the day on a regular basis. No one noticed that they weren't working or producing? It just seems really odd. Is it possible that they weren't working because the work had slowed to the point where they had nothing to do? It's just hard to fathom an employee clocking in, not working and no one noticing or ever saying anything to them.
Much has to do with the type of work they were doing.
I would be really interested in knowing what kinds of jobs those 250 employees had and how they were able to disappear and not work for the better part of the day on a regular basis. No one noticed that they weren't working or producing? It just seems really odd. Is it possible that they weren't working because the work had slowed to the point where they had nothing to do? It's just hard to fathom an employee clocking in, not working and no one noticing or ever saying anything to them.
Much has to do with the type of work they were doing.
It's a mortgage company and the housing market isn't as active during the holidays and into January and February. Come March, they'll be hiring again.
That, and I've never been in favor of letting people go before the holidays. You waited this long, you can wait until January.
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, and I've never been in favor of letting people go before the holidays. You waited this long, you can wait until January.
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.
They probably want to take the severance package cost hit on this year's financial write off instead of next year. .
That does not require firing them this year. If you file a WARN Act notice of layoffs, GAAP allows corps to accrue estimated layoff expenses immediately. (Since the WARN Act is a 60 day notice, layoffs would be February. Now that would mean not recording them as terminations, so unemployment would be paid, but at a corp this size, it would not raise their rates up much until mid 2023, at the earliest. Plus, all who got hired elsewhere in this good economy do not collect UI anyway.)
That does not require firing them this year. If you file a WARN Act notice of layoffs, GAAP allows corps to accrue estimated layoff expenses immediately. (Since the WARN Act is a 60 day notice, layoffs would be February. Now that would mean not recording them as terminations, so unemployment would be paid, but at a corp this size, it would not raise their rates up much until mid 2023, at the earliest. Plus, all who got hired elsewhere in this good economy do not collect UI anyway.)
Providing they find work before February. I mean companies unless they are truly hurting for talent will not hire until after the New Year. Unless you want retail, Amazon or delivery work. That said, I don't see much of the laid off workers going for any of that, especially in this job market.
instead of just linking a you tube garbage type of trolling thread...why not be an adult and give a synopsis of the video
sorry but I cant watch videos on my work computer
give the who, what, when, where, why, how....
There is a Current Events thread that covered this from a day ago without the actual video. I linked it in a previous reply in this thread but here is the thread.
Providing they find work before February. I mean companies unless they are truly hurting for talent will not hire until after the New Year. Unless you want retail, Amazon or delivery work. That said, I don't see much of the laid off workers going for any of that, especially in this job market.
No matter what, Unemployment Insurance is a small expense for any employer with significant size.
The corp lost 3 execs today in Marketing and Public relations who quit. The P/R fiasco is their biggest issue now.
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