BondTrader_IHB
New member
Winex, appreciate all your thoughts, can't agree with you more.
I'm with PIMCO's old parent.
I'm with PIMCO's old parent.
Mass Layoff in my company
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usctrojanman29_IHB
New member
[quote author="BondTrader" date=1234575629]Winex, appreciate all your thoughts, can't agree with you more.
I'm with PIMCO's old parent.</blockquote>
Pacific Life Insurance? I used to work there in their Commercial Real Estate Dept
I'm with PIMCO's old parent.</blockquote>
Pacific Life Insurance? I used to work there in their Commercial Real Estate Dept
biscuitninja_IHB
New member
Wow! we've had small layoffs here. But now they just let 10-20 people go today at our small facility.
And our sister facility has had 40! people go. Just to give you and idea that brings the total to something like 150 out of 800 from the beginning. Or about 18%.
Wow.... Our little facility has had about 25% of the people disappear, a little over 100 people.
Still I think we've only had 1-2 managers out of all of this. Makes you wonder who's going to do the work?
-bix
And our sister facility has had 40! people go. Just to give you and idea that brings the total to something like 150 out of 800 from the beginning. Or about 18%.
Wow.... Our little facility has had about 25% of the people disappear, a little over 100 people.
Still I think we've only had 1-2 managers out of all of this. Makes you wonder who's going to do the work?
-bix
ipoplaya_IHB
New member
[quote author="usctrojanman29" date=1234605156][quote author="BondTrader" date=1234575629]Winex, appreciate all your thoughts, can't agree with you more.
I'm with PIMCO's old parent.</blockquote>
Pacific Life Insurance? I used to work there in their Commercial Real Estate Dept</blockquote>
Pac Life is not a very good customer... We have a few people on contract there and have placed perm resources as well. Slow payers.
I'm with PIMCO's old parent.</blockquote>
Pacific Life Insurance? I used to work there in their Commercial Real Estate Dept</blockquote>
Pac Life is not a very good customer... We have a few people on contract there and have placed perm resources as well. Slow payers.
O
Oscar_IHB
Guest
[quote author="biscuitninja" date=1235183365]
Still I think we've only had 1-2 managers out of all of this. Makes you wonder who's going to do the work?
-bix</blockquote>
It sounds like the primary determinant is salary, not workload. One manager can take on more direct reports and teams for the same labor cost, but firing half of them doesn't get you the same cost reduction as dumping 150 salaries. It sounds like the company has chosen to extend delivery timelines rather than just cut whole projects.
Still I think we've only had 1-2 managers out of all of this. Makes you wonder who's going to do the work?
-bix</blockquote>
It sounds like the primary determinant is salary, not workload. One manager can take on more direct reports and teams for the same labor cost, but firing half of them doesn't get you the same cost reduction as dumping 150 salaries. It sounds like the company has chosen to extend delivery timelines rather than just cut whole projects.
tenmagnet_IHB
New member
There seem to be a number of stealth layoffs occurring not being reported in the media.
A friend of mine is a senior associate at a large law firm
They?ve been thru two rounds of layoffs over the past six months.
I've yet to see it reported in the local media.
A friend of mine is a senior associate at a large law firm
They?ve been thru two rounds of layoffs over the past six months.
I've yet to see it reported in the local media.
High Gravity_IHB
New member
[quote author="tenmagnet" date=1235185742]There seem to be a number of stealth layoffs occurring not being reported in the media.
A friend of mine is a senior associate at a large law firm
They?ve been thru two rounds of layoffs over the past six months.
I've yet to see it reported in the local media.</blockquote>
Last Thrusday was known as "bloody Thursday" in the legal industry. The law firm layoffs are being reported in the legal press, but not the mainstream media.
<a href="http://abajournal.com/news/bloody_thursday_4_major_law_firms_ax_attorneys_more_layoffs_at_others/">Bloody Thursday Article</a>
A friend of mine is a senior associate at a large law firm
They?ve been thru two rounds of layoffs over the past six months.
I've yet to see it reported in the local media.</blockquote>
Last Thrusday was known as "bloody Thursday" in the legal industry. The law firm layoffs are being reported in the legal press, but not the mainstream media.
<a href="http://abajournal.com/news/bloody_thursday_4_major_law_firms_ax_attorneys_more_layoffs_at_others/">Bloody Thursday Article</a>
biscuitninja_IHB
New member
[quote author="Oscar" date=1235184176][quote author="biscuitninja" date=1235183365]
Still I think we've only had 1-2 managers out of all of this. Makes you wonder who's going to do the work?
-bix</blockquote>
It sounds like the primary determinant is salary, not workload. One manager can take on more direct reports and teams for the same labor cost, but firing half of them doesn't get you the same cost reduction as dumping 150 salaries. It sounds like the company has chosen to extend delivery timelines rather than just cut whole projects.</blockquote>
While I agree with you, product still has to get out the door. They are cutting both workers and engineering, but keeping delivery times (they are reducing # units though). But still the work load has gone from 230% to "only" 165%.
I spoke too soon also. They got rid of 3 managers today, and alot more people. It will be interesting to see if we can get product out the door in a timely manner though....
interesting times. Maybe its time to sell my portfolio.
-bix
Still I think we've only had 1-2 managers out of all of this. Makes you wonder who's going to do the work?
-bix</blockquote>
It sounds like the primary determinant is salary, not workload. One manager can take on more direct reports and teams for the same labor cost, but firing half of them doesn't get you the same cost reduction as dumping 150 salaries. It sounds like the company has chosen to extend delivery timelines rather than just cut whole projects.</blockquote>
While I agree with you, product still has to get out the door. They are cutting both workers and engineering, but keeping delivery times (they are reducing # units though). But still the work load has gone from 230% to "only" 165%.
I spoke too soon also. They got rid of 3 managers today, and alot more people. It will be interesting to see if we can get product out the door in a timely manner though....
interesting times. Maybe its time to sell my portfolio.
-bix
NewToOC_IHB
New member
I agree Ten. There do seem to be a large of lay-offs that I don't see any mention of in the local press. And I guess I mean OC Register specifically.
And I don't mean to sound critical here but I don't really understand their criteria for news. Anything any of the "Real" Housewives does on or off the show qualifies, as does the theft of $38 from a thrift store donation box but not the laying off of hundreds of employees at local firms. Is it really possible they don't know. Depending on the size, public/private nature of the company it may not be required to disclose it but surely with that many newly layed-off people local journalists would catch wind of it.
I'm not a MSM basher. Some of my high school and college friends are journalists that do exemplary work. It's an honest question. Does the local press really not know or is it considered not newsworthy or do the companies somehow apply pressure to keep it out of the papers or at least minimize it to the point no one notices.
I keep meaning to check www.fxxkedcompany.com (xx are not the actual letters, natch) when I'm not at work or on my work bb as they did a great job tracking job losses during the late 90s through 2003. But I continually forget.
And I don't mean to sound critical here but I don't really understand their criteria for news. Anything any of the "Real" Housewives does on or off the show qualifies, as does the theft of $38 from a thrift store donation box but not the laying off of hundreds of employees at local firms. Is it really possible they don't know. Depending on the size, public/private nature of the company it may not be required to disclose it but surely with that many newly layed-off people local journalists would catch wind of it.
I'm not a MSM basher. Some of my high school and college friends are journalists that do exemplary work. It's an honest question. Does the local press really not know or is it considered not newsworthy or do the companies somehow apply pressure to keep it out of the papers or at least minimize it to the point no one notices.
I keep meaning to check www.fxxkedcompany.com (xx are not the actual letters, natch) when I'm not at work or on my work bb as they did a great job tracking job losses during the late 90s through 2003. But I continually forget.
vicstah_IHB
New member
The above mentioned F**ckedcompany is now defunct. Philip Kaplan sold the site to TechCrunch in 2007.
http://www.techcrunch.com/2007/03/31/techcrunch-has-acquired-fuckedcompanycom/
http://www.techcrunch.com/2007/03/31/techcrunch-has-acquired-fuckedcompanycom/
norcaljeff_IHB
New member
No one person or company is immune. People are in denial if they think they are an exception.
biscuitninja_IHB
New member
[quote author="norcaljeff" date=1235561174]No one person or company is immune. People are in denial if they think they are an exception.</blockquote>
QFT, the managers who were let go were in a MEETING WITH A CUSTOMER, when they were asked to leave. Talk about upsetting....
good luck
-bix
QFT, the managers who were let go were in a MEETING WITH A CUSTOMER, when they were asked to leave. Talk about upsetting....
good luck
-bix
