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  • sell_your_soul sell_your_soul • Nov 15, 2002 12:41 AM Flag

    Peoplesoft still laying off people.

    Heard from the grapevine that they're still laying off people at the moment. Peoplesoft's tactic is to do sequential layoffs, therefore you don't hear any mass layoff announcements. But from what I heard, the numbers are really adding up over time.

    Such tactic is considered unethical and certainly misguiding to the investors. Peoplesoft is basically using economic downtown as pretext for layoffs.

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    • stock_fool_2 stock_fool_2 • Nov 15, 2002 11:10 AM Flag

      It is my understanding via the same grapevine that the layoffs are going like this in their consulting group:

      If you are on the bench 6-8 weeks is a 13 week rolling quarter you are history.

      Forget the fact that you are a qualified consultant it is just their are no jobs for you to be assigned to at the time.

      When services pick up in future they will rehire for the talent they layoff.

      Not sure if they are looking at the cost to retain vs cost of new hire.

      Might be short-sighted...but hey that is what the stock market is all about these days and they are managing to stock market expectations.

      • 1 Reply to stock_fool_2
      • cut_heads cut_heads • Nov 15, 2002 4:56 PM Flag

        Here's why...The off-shore model with TaTa, Wipro, etc., is killing this part of your business also. Big companies are forcing this model to cut costs, taking jobs out of the U.S., and increasing unemployment. Unlike countries like Germany and Switzerland, the U.S. allows this to happen, for the sake of corporate profits. This model will force a lot of American's out of this business and the big corporations can deal with the off shore companies for years to come. Then, they wonder why their projects have to be re-worked and will probably end up trying to blame the off shore companies for their short sighted strategy. This industry used to be interesting and fun, now many highly experienced people are getting out...too bad.

 
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