Any truth to the rumors of people being told their position is being downgraded to a lower grade level, and they can either accept it or leave? Are they offering a separation package for those who do not accept this? Wondering if this is true and what roles/business units are affected.
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Most of the VPs are operating at G6 level.Many G7s are better than G8 VPs .Many of these promotions happened during 20201-24 needs to be reviewed .GCL,SL roles should be at G7 level .Product Area leader type roles can be at G8 .
@bs no package offered. If you decline you leave. (They don’t even pretend to be nice anymore)
Cut your output and stop working so hard after the demotion. Learn to coast!
@bq do you know if a package is involved for those that decline?
Can confirm demotion is happening, actively and continuously
@am This happens at all levels.
Great description - obstructionists! What about the ones that make a decision and act so decisive only to come back with an escalated thing that needs to get done because they changed their minds. Giving us only 2 months to build when we had a runway of 2 years.
@ac That doesn't sound right. If it were just a title change I could see this, but if one had no prior performance issues and their work and responsiblities stayed the same with a substantially negative change to one's compensation (ie. reduced bonus opportunity and share eligibility ... I vs P shares for example), that sounds sounds like forced resignation.
What happened to this once great company?
They’re not going to offer severance if they’re doing this. It’s going to be, this is your new job title, you can agree or you can voluntarily resign.
I don't know about what's coming or the larger context of why Fidelity would do this, but I know someone personally who went from L7 to L6 after the May RIF. She wasn't that great at her job anyway, so, I don't feel that bad for her.
Lot of vps are obstructionist experts and a pain the neck
@a3 No anxiety, in fact just the oppose. If severance is offered if you decline this "offer" it would be better than leaving voluntarily for someone that was planning to do so anyway. To your example, I'm not saying these demotions are or isn't justified. I'm sure there cases where they are and perhaps some where they aren't. That's subjective and ulimately out of our control and up to the company to decide. I'm Just wondering if it's a real thing and people are being affected or if this is just rumor.
Anxiety much? Some job functions simply can't justify a VP title. For example:
- VP of AI Governance: running obstructionist meetings to talk about AI use cases?