So today I was asked to identify 15% of the staff I manage for layoffs / offshoring. Fucking bummer… What's worse is our company didn't have a bad year, but our CEO is retiring and his replacement “wants to make sure his first year is a good one” (according to my boss).
What's worse is they announced this week they're switching everyone in the US to an “unlimited PTO” plan, which basically means you no longer have a balance they have to pay out in states that don't require payout. I'm in Texas, so no such labor protections. They instead will offer the value of our Dec 30 PTO balance in the form of restricted stock units vested over 4 years (25% value per year). If you leave the company in any form (laid off or fired) before the first 25% vest period in a year, you get nothing.
So basically, they're taking away the PTO balance that used to be paid out when people are laid off, right before planning unnecessary layoffs. I have an amazing team, boss and genuinely like those I work with day-to-day, so I feel rather conflicted because I would really like to quit and give a middle finger to executive leadership before Dec 30, but I also don't want to leave my team. Shit day… Just wanted to vent about the joys of corporate greed.