Using my throwaway for obvious reasons.
I work at one of the biggest and oldest CPG companies in the world (CorpX.) Inside the company is a separate company that does all the design, production and digital work for every one of CorpX’s 25 brands. That smaller company is ABC.
ABC originally started on its own offering computer services, but was “acquired” by CorpX about 30 years ago to house a group of print design and production artists. These people were, and still are, hourly – they are not guaranteed 40 hours a week and they don’t have paid holidays or sick time. A few weeks ago, 8 of the 50 people were laid off with no warning – because ABC isn’t “technically” CorpX, there was no HR involved or reasons given.
I just found out that we actually have over $40 BILLION “stored” under ABC by CorpX – the reason in this case was to use for various events (which are all online now) and apply whatever’s left to CorpX’s bottom line at the end of fiscal.
I’m a CorpX employee, but I spent three years under ABC. They laid off people who’d been there for 20 years. One of them was attending his mother’s celebration of life the next day and hadn’t worked much for two weeks. So he was both broke and grieving.
I started working here strictly for stability, but this place fronts like it’s so “socially responsible” and “ethics driven, it makes me sick. I can’t work for a place like this.
TLDR; basically the powers-that-be at CorpX decided 8 hourly employees were dispensable, doubled the workload of the remaining team, and paid themselves a bonus – and all along, there’s been $40 BILLION stored away that could have taken care of everyone 10x over. I feel ill.
Edit: the $40 billion revenue comes from our licensees and third parties. I’m going to puke.