EDS Layoff Timing Very Costly to Workers
from the bad-timing dept
theodp writes "EDS picked a pivotal day to lay off 300 workers. Had it let them go just a day earlier, on July 1, EDS would have had to pay the severance package it promised when it acquired the employees as part of its purchase of a Sabre unit. But because EDS cut their jobs on July 2, the day after the one-year severance contract expired, the former Sabre workers will receive 2-4 weeks of salary instead of a month's salary plus as much as a month's additional pay for each year served. The one day delay reduced a laid-off Sabre employee's severance from $68,000 to $3,000 (NY Times, registration required). All EDS employees released on the morning of July 2 were also told that their medical coverage would end at midnight. EDS, who paid CEO Dick Brown more than $55 million last year, says the former Sabre workers' severance agreement had no bearing on the timing of the cuts, although an e-mail message EDS management sent to supervisors on June 28 said that "no separations or separation meetings should occur prior to July 2nd." "
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More costly than the article says...
were amongst these layoffs. Were they deadwood?
Nope! EDS layed off it's bid and proposal team!
"We're not in need of any new business right now,
we'll outsource your positions when needed."
Yah EDS, I'll be buying your stock real soon...
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THINK, MCFLY
You should be THANKING EDS for preserving your job for another 6 months. It's clear you would have been CUT long ago otherwise.
I'm sure the INCOME from staying on the payroll, in many cases, exceeded the pidling severance they'd have gotten anyways.
Of course, its always easiest to cite the extreme 68,000 hard luck case. I bet 90% of workers made out by staying on the payroll
INGRATES
MORONS
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GREEDY BS
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Why murder should be legal
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Re: THINK, MCFLY
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Layoffs
HP will provide support with 600 workers from India.
WARN notices are comming out this week.
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Re: THINK, MCFLY
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