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Better CEO 'Taking Time Off Effective Immediately': Email

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Re: Better CEO 'Taking Time Off Effective Immediately': Email

#11

Post by financetechbro »

onetimemanytime wrote: post #7
barbazoo wrote: post #3

What's the "normal" way to lay off a group of people of that size? Do companies normally schedule one on one meetings in this case?

The bottom line is the getting fired is, almost always, bad news. Sure delivery matters but if he was announcing a raise, no one would have questioned the manner. So unless he had some major financial aid for the laid off...

Not sure if it’s fair to compare a raise announcement to layoffs. Raise is good news and doesn’t need to be handled as carefully as a 10% workforce layoff

Re: Better CEO 'Taking Time Off Effective Immediately': Email

#12

Post by grappler »

cardosof wrote: post #10

I don't remember when this happened exactly during my career, but someday something clicked in my mind and I learned that, after youre promoted above middle management, you can get away with most legal but immoral things, and with many straight up illegal stuff as well. One can concentrate so much power without accountability that it's easy to blame someone else, the market, the client, the employees, and keep changi…

I suppose that's tied to people believing that you have some kind of midas touch for turning capital into profit. As long as the people with the capital believe that about you, they will back you with their capital and then have your back.

Re: Better CEO 'Taking Time Off Effective Immediately': Email

#13

Post by gnicholas »

david38 wrote: post #8
passivate wrote: post #5

Layoffs will happen when companies aren't doing well. IMHO, the problem is the CEO getting a freaking _BONUS_ while simultaneously claiming the company isn't doing well and as a result they're laying off people. The board probably approved his bonus as well, so all this is nothing but a PR stunt. They don't care, they never cared. If the company isn't doing well everyone in senior management should also get a haircut…

Not just a bonus, but $25 million. An amazingly high bonus even for CEO standards.

Incredible! I didn't see that in the article — do you have a link?

Re: Better CEO 'Taking Time Off Effective Immediately': Email

#14

Post by black_13 »

passivate wrote: post #5

Layoffs will happen when companies aren't doing well. IMHO, the problem is the CEO getting a freaking _BONUS_ while simultaneously claiming the company isn't doing well and as a result they're laying off people. The board probably approved his bonus as well, so all this is nothing but a PR stunt. They don't care, they never cared. If the company isn't doing well everyone in senior management should also get a haircut…

„Some“

Re: Better CEO 'Taking Time Off Effective Immediately': Email

#15

Post by bravetraveler »

barbazoo wrote: post #3

What's the "normal" way to lay off a group of people of that size? Do companies normally schedule one on one meetings in this case?

Usually fed down the chain of command. Execs tell managers who tell their people, HR is usually involved too. If the managers are also involved, it's a bigger affair

It's rarely a surprise in my experience (eg: new owners/investors are sniffing around for months). Announcement of the acquisition/investment is often made, mentioning that certain business units will need to be 'optimized' or some other vague term.

Re: Better CEO 'Taking Time Off Effective Immediately': Email

#16

Post by iamthemonster »

barbazoo wrote: post #3

What's the "normal" way to lay off a group of people of that size? Do companies normally schedule one on one meetings in this case?

Yes, in my company their aim was to complete the redundancies as fast as possible, and it took about one week. One on one meetings are held with HR - I don't believe line management was even involved in the meetings. The employee leaves the office immediately.
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