These are becoming more common.

Informatica laid off 10% of their staff...
https://www.barrons.com/articles/informatica-buyback-earnings-6cc15b80

Quote:

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Informatica Cuts Staff by 10% and Sets New $200 Million Buyback. Its Earnings Topped Estimates.

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Last day at my job was Oct 31st. Role moved to Costa Rica.

ouch, what were you doing ?

Manager of Pricing & Invoicing/Customer Service.

imagine they will try and hire you back in 12 months.

We have done 4 RIFs in a real estate firm. It's making me want to look for something else.

Painful to have to endure through.

Bayer getting ready for layoffs. Rumor has it the target is to cut spend 15%

99% sure my company, power gen and transmission, is setting up for a M&A. Everyone that is not in the union with us is looking for new places to land.

Hoyt….mind sharing which company you're with? I'm in the same industry.

07.09.14ag AT gmail

My company, also in Austin, just laid off about 20% of staff. I survived again but many of my friends and colleagues did not. Bad look after the CEO verbally promised to never do another round of layoffs after we did them last year in order to "right size".

Dell has had multiple rounds. Most likely another coming in February.

They telegraph the cuts so they can have natural reduction in addition to the planned cuts. At the huge companies that announce this, there are few sacred cows.

BrazosDog02 said:

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Oof…why a CEO would ever discuss such a thing is beyond me.

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I assume he's on his way out shortly as well.

The thing that really pisses me off is he announced the layoffs and then I didn't see him in the office at all the following week.

sdc177 said:

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Yep, I just got laid off from Charles Schwab in Austin after 19.5 years. Decompressing a bit and then need to figure out my path forward. I'll be paying attention to this forum more in the near future!

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Does anyone know why something like this is not showing up for WARN under Texas? Is it timing or am i missing something.

https://www.twc.texas.gov/data-reports/warn-notice

AggieMainland said:

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sdc177 said:

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Yep, I just got laid off from Charles Schwab in Austin after 19.5 years. Decompressing a bit and then need to figure out my path forward. I'll be paying attention to this forum more in the near future!

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Does anyone know why something like this is not showing up for WARN under Texas? Is it timing or am i missing something.

https://www.twc.texas.gov/data-reports/warn-notice

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I think it has to be a pretty large cut at a single site/office location. Don't remember the specifics though. Actually have a friend that works at Schwab here in Austin too, hope he is alright.

Think warn act is like 30+% of workforce or 500+ employees being laid off at a single location

Thanks! That explains it. I've had that question for a while but it explains why most on the list are smaller companies. Medium sized probably stay below both thresholds.

I noticed USAA on the list for laying off around 200 people. Pretty sure that's much less than 30% of their workforce.

AJ02 said:

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I noticed USAA on the list for laying off around 200 people. Pretty sure that's much less than 30% of their workforce.

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May have been a site closure

https://www.dol.gov/sites/dolgov/files/ETA/layoff/pdfs/_EmployerWARN2003.pdf

Quote:

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The WARN Act requires employers to provide written notice at least 60 calendar days in advance of covered plant closings and mass layoffs (see glos-sary).

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Quote:

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The term "mass layoff" means a reduction in force that:
1. Does not result from a plant closing; and
2. Results in an employment loss at the single site of employment during any 30-day period for:
a. At least 50-499 employees if they represent at least 33% of the total active workforce, excluding any part-time employees; or
b. 500 or more employees (excluding any part-time employees). (In this case, the 33% rule does not apply.)

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lil99chris said:

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Manager of Pricing & Invoicing/Customer Service.

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What industry?

AggieMainland said:

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sdc177 said:

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Yep, I just got laid off from Charles Schwab in Austin after 19.5 years. Decompressing a bit and then need to figure out my path forward. I'll be paying attention to this forum more in the near future!

---

Does anyone know why something like this is not showing up for WARN under Texas? Is it timing or am i missing something.

https://www.twc.texas.gov/data-reports/warn-notice

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Not sure if it is correct, but I was told if the company provides a severance package, they don't have to report via WARN. Would make sense, because none of the dell layoffs have been on there.

AggieOO said:

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AggieMainland said:

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sdc177 said:

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Yep, I just got laid off from Charles Schwab in Austin after 19.5 years. Decompressing a bit and then need to figure out my path forward. I'll be paying attention to this forum more in the near future!

---

Does anyone know why something like this is not showing up for WARN under Texas? Is it timing or am i missing something.

https://www.twc.texas.gov/data-reports/warn-notice

---

Not sure if it is correct, but I was told if the company provides a severance package, they don't have to report via WARN. Would make sense, because none of the dell layoffs have been on there.

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I'd imagine it just depends.

WARN act is essentially a 60 day notice. So if you provide severance of 60+ days, then I could see not having to report it.

Chemical products.

at dell, 60 days of severance would completely depend on your tenure. That would be a minimum of 6 years employment. There were definitely plenty of people with less than that on the previous two rounds of cuts.

Emerson (formerly NI - National Instruments) just had a large layoff... with more to come. My wife got caught up in this last round.

AggieOO said:

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at dell, 60 days of severance would completely depend on your tenure. That would be a minimum of 6 years employment. There were definitely plenty of people with less than that on the previous two rounds of cuts.

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Not sure, then....

I was part of a company that did layoffs w/ severance packages and they still had to report via WARN act and give us extra days severance because of the WARN act.

I'm sure lots of lawyers out there interpret it however they want.

I used to work for USAA and I assume they were just being overly cautious due to all of their compliance issues in the bank.

I work in product development and it was such a nightmare building anything there due to all the compliance hoops you had to jump through.

htxag09 said:

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AggieOO said:

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AggieMainland said:

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sdc177 said:

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Yep, I just got laid off from Charles Schwab in Austin after 19.5 years. Decompressing a bit and then need to figure out my path forward. I'll be paying attention to this forum more in the near future!

---

Does anyone know why something like this is not showing up for WARN under Texas? Is it timing or am i missing something.

https://www.twc.texas.gov/data-reports/warn-notice

---

Not sure if it is correct, but I was told if the company provides a severance package, they don't have to report via WARN. Would make sense, because none of the dell layoffs have been on there.

---

I'd imagine it just depends.

WARN act is essentially a 60 day notice. So if you provide severance of 60+ days, then I could see not having to report it.

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I'm fairly sure that the Biden admin rejiggered the WARN pre-reqs to be in aggregate across all locations rather than the numbers being based on single locations. I think that is one of the reasons we have seen severance at such a high level in this jobs cycle. I also think of lot of that is because the layoffs, for the most part, have focused in the white collar part of the workforce.

Ultimately I think this is one of big drivers of the disconnect between the household survey and the establishment survey. The household would say, yeah i got laid off, I don't have a job whereas the establishment (employer) survey would say, we're still paying him, he has a job.

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