I am neither. I AM concerned for the company, and the handling of this is reason for concern.
There are other areas which this will affect, and there are effects which are just now being noticed. These from decisions made months ago.
Blanket statements, painting with a broad brush, aren't we?
"I was not involved in laying anyone off. I'm just correcting various misinformation on the board. Other people who are not in the know may think some of the crap posted by disgruntled people (for whatever reason) is correct and it may have other ramifications..."
Spoken like a true upper management person that is trying to convince him/herself that they did the right thing. Also sounds like a person scared that truthful information may be given to investors.
Actually, bonuses will be delivered in February. The announcement was made earlier in 2001 that bonuses would henceforth be allocated based on actual EOY results rather than projected results. 4th Quarter results will be published January 21st (I think), and the pool of money available for bonuses and merit increases will be known at that time. Raises will be announced in February also, retroactive to the beginning of the year.
Profit-sharing bonuses (those that go into employee's 401K's) will not happen this year. That was announced last month.
This is what I heard from someone "who got the call" that we spent the day waiting for:
2 weeks per year of service, with a min. of 8 weeks.
Insurance benefits paid until that date.
Percentage of the 2001 MBO bonus will be paid (supposedly was a good figure)
You have until December 14th before you're officially taken off the payroll if you don't find another position within SAP (not an easy proposition without your laptop).
401K vests in 3 years; pension vests in 5 years
Seems like there is no consistent pattern or logic for many of the decisions made; focus was obviously to get the labor costs down for each sector, which made you a good target if your base pay was up there. Many people with unique and in-depth skills were released...this cannot be replaced easily...maybe the determination was made that there was no immediate economic benefit to have these skills...very, very short term thinking going on in my opinion.
that's the official line they are giving...2 weeks per year. what they aren't telling is that it only pertains to people who have over 5 years employment. and the people who have 5 years only get an extra 2 weeks total! that is 5 weeks severence. everyone else gets 3 weeks total.
Can anyone tell me in which department or sector did the layoffs happen. They said that they were moving the support center to Philadelphia and so are the layoffs in Austin. What is the reason behind this layoffs (not that there should be any other reason than cost cutting)