Lots of IT people cut in Columbus
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I would also blame Nick A. he hired TR. Nothing was done without his approval and the knowledge and approval of the Board. The Board has a hiring committee to screen candidates at the EVP/SVP levels, they knew good and well what they were doing. TR will be gone as soon as she finds a bigger fish to fry. I doubt she'll stay past 5 years. As soon as she's gone, she'll start dragging her cronies with her to the new company. A few at a time, TCS will get kicked out and IT will go on a hiring binge. The problem is you have to stick it out if you can until she's gone. If the company decides everyone has to be come back into the office, it'll happen faster because there is no way these people want to move to Columbus. TR is like a plague of locust, they sweep in, destroy everything in sight and then move on to the next company. Have mercy on the next company that has to deal with her.
As for JS, I think the stock market will determine her fate. If it goes up and we meet EPS, she's safe. If we slide too much and we miss EPS a few times and have to lower the Div. she'll be shown the door. Maybe if that happens, we could hire Brian Tierney back but that would be wishful thinking.
None of this was done without the approval of the Board. You don't hire or fire a VP without the approval of the Board. So lay the blame where it belongs, at the feet of the board. Seems TRs only mistake was spending money like a drunken sailor as was told to cut back or else. Seems the cuts are way deeper in IT than the rest of the company based on the numbers being let go. Is it going to get worse, I would almost bet on it. JS was a DEI hire as was TR. There were problems in IT before TR came onboard but nothing that couldn't have been fixed. Now, they want everyone left to treat TCS as co-workers and your friend, I have news for them, TCS contractors are not my friends. I'll keep my head down, look for something else in the meantime and leave this sh.. show on my terms, severance or no severance. Wish the best for all those let go, at least there is a light at the tunnel. Those left, that light is another train heading our way.
AEP is not getting sold to anyone. It would be a regulatory nightmare getting that kind of clearance through all of the state commissions. Didn’t you all see how much pushback the commission gave the Kentucky sale?
What will likely be the case if the stock keeps tanking is that the board will clean house, meaning Julie out as CEO and fire or force retirement from some of the ELT.
I’m just not sure how they turn it around without cutting significant headcount. Lower interest rates would really help, but it might not be enough. Too many low RoEs at the OpCos.
They could sell if management gets a bad enough reputation that the stock tanks and make AEP a steal. They're well on their way.
Post from TheLayoff.com
I doubt they could sell the company. Do you recall how bad they botched the KY sale?
@3iua+1qB6FXi3 Is a mole.
How does this Field Mobility project stay afloat? That thing is bleeding money and has zero leadership. Another boondoggle that will ki-l the company.
It may be a good idea to figure out to which competitor they're planning on selling AEP. None of this makes any business sense unless the company is pieces and parts.
Sad to hear what has happened to AEP. I am a firm believer the “no cuts “ were total lies by Therace from the start. First rounds under Kim were just to make life so miserable you leave on your own and don’t get severance. We saw Kim so many shady deals with vendors, at one point they threatened to stop selling to AEP. I’ve been personally told by upper management that these new retail hires are snakes in the grass. Don’t trust them get out now while you can, AEP is in a death spiral and if it does recover it won’t be for several years! Best of luck to all the good people still there. Oh and it’s about time security took a hit!! ;). Infrastructure was smashed way too many times already!!
Get real: The IT service has been poor since the local response teams were culled about twenty (20) years ago! Right now, the AEP stock price is low and the dividends are high, so Krammer says our AEP Stock is a “ Buy “ !
@3yea+1qB6FXi3 - Do you think this thread is civil or constructive in any way other than venting? It won't change what has happened. Everyone has varying degrees of fault from the top down.
There are people logging in to teams but not work for the past 3 years. Salary grade 10 managers managing 1-3 people while other managers cover 12-15. Cybersecurity has an entire ambassador team for communication (ever heard of email or teams). Technology teams with no central vision spending money in direct competition with other technology teams. For years, the true culture was capital money is free money. The rate payers will pay for it. Now we are seeing that failed direction.
Therace may have been the catalyst with the failed outsourcing but that doesn't make up for the inaction over the last 3 years. We all saw the writing on the wall from her history. Then she did the first round of layoffs and reorgs. Julie announced sweeping layoffs 2 months ago. We all knew this was coming. There was plenty of time to cash out and leave.
I spent so much of my time in ANO going back to fix/finish TCS's work - causing me and the rest of the team to fall behind our own projects. And AEP still decided to keep TCS?! I'm glad I got the he-l out of there when I did. My team was fantastic. But that environment was a sh-t show. Good luck to all who now have to find new jobs. I wish you all the best.
guys, keep it civil. please. derogatory speech isn't allowed here. site mods could nix the entire thread.
https://www.columbusceo.com/story/business/briefs/2024/01/17/columbus-ceo-summer-2023-issue-features-american-electric-power-ceo-julie-sloat/72252364007/
Did you all see who made the cover photo of "Columbus CEO" magazine on the very same day everyone was made to walk the plank?
Companys typically give non-union workers (employees at will) off premise notice so there is no risk the worker will do a "workers comp. mysterious slip and fall accident" and
sue the company since they will be unemployed with no income anyway. Top management could lose part of their required numbers to receive their own bonuses if workers comp. cases skyrocket. The little worker loses every time. This is not right but it is common policy with some big corporations.
Remember this week's news? A.I. is predicted to take over 40% of American jobs. A.I. can do about any IT indoor, sit around jobs. Look for work in more laborious hands-on fields that are union only so you have at least some protections. Very sorry this has happened. Rocky roads maybe ahead at first but they will smooth out in time. Many thoughts and Prayers to all effected
HR won't even let HR know who in HR is being let go. This company is a mess now and it is clear by now to everyone that everything being messy is a feature, not a big, of the leadership team in place across the org. I do not think this ship gets righted until it has new captains.
I wasn't even let go and took this week's events as a sign that it is time to go in my own.
Anyone who does not see any major red flags or concern about how things have played out this week, not to mention the last year, is frankly a trashy and unethical human being that lacks values and any sort of moral compass. They and this company deserve the contined failure forthcoming 100%.
Company would have been better managed under Lisa. Julie Sloat should tell us how much she visited the garages more.
@2guw+1qB6FXi3, keep it under a radar, please. don't share the link with AEP mgmt, what good it will do? we certainly don't need them monitoring what's being said here. not to mention they certainly don't deserve an iota of our help in anything they've been doing lately.
If I was a customer, I would find a new provider sooner than later before you all get sc--wed like us. If they treated us loyal employees like this in the promise to save money when in reality they blew threw money as if a budget didn't exist ....what will they do when they can no longer sc--w the employees and contractors doing the work? Customers we are sorry but or sh---y decisions, management, and or inability to keep workers because of those first couple things......we need now need a 99% increase on your rates and not the 33% one we just asked for and got after we implemented our failed polices/leadership we still back. Wait what am I saying, sc--we you little pleps policies are working great for everyone in the chain that it's supposed to. AEP will be one of those western southern power companies eventually who is sold off because of their sh---y decisions and implementation of management over these last 4 years. I can't wait to watch it go down and hope her along with everyone she brought in never has a has above 60k job again because that's how they operate.
I was apart of the very first wave of layoff and felt it was funny that during the very first all hands meeting they had this slide that said all l2 and l3 services would go to TCS. Then pretty much every meeting after it was a smoke screen nobody is losing their job and blah blah blah. Yet anyone like most of us could us the internet like now and find this or her past history which is the same one playbook. How does the same contracting firm get the contract every time where her and her id--t management goes? Which brings up sp many other ethical and personal interests violations that are all so relevant everyone who worked in IT. You can't tell us you have to interview in front of a committee to get a job or promotion and yet somehow someone who had some past work experience or history gets the management position after you ran them out. It was a laughing joke amongst us as we didn't care who the person was and just went to where is it at history wise oh there it is. I gave my life to this company and was actually almost overlooked for a promotion because where I lived, even though I made a 3 and a half hour round trip at best 5 days a week. Was actually like 4 or more depending on traffic but was never late nor called off. I worked there for 10 years and was promoted numerous times because i loved the company and would've done anything for it like I felt it had me. Lessons learned never again will I give my life to a company even when I'm on call or not. Company's need to realize that you can hire cheaper labor in a bid to please shareholders and all that but this is the lesson to be learned and why aep chose this especially given this id--ts track record from all the other companies she came from bragging about doing the same, which failed beats me. Also why hire an someone who displays such inability of times with technology as her who has some 2000 wired apple air buds u hope, given the benefit of the doubt they are at least apple and not some pos 30 dollar pair room the gas station considering what she got paid. But who the fu-k is a big shot of IT and had wired earbuds and hold the wire to talk into it lol. Come the on let's get with the program you are director and big sh-t of IT lol. How embarrassing to us all who actually work in IT and make these people look like their intelligence. Let's being in someone from retail that's literally applied the same playbook and had been outside. Whoever was in charge including shareholders should ne assumed and replaced. Also AEP stands for American Electric Power....I for one believe they need to be forced to change their logo to IEP "India Electric power" because their policies and future decisions is sc--w the American worker in favor of cheaper labor which is actually costing them more so they need to lay of more American employees. Let's not get rid of these id--ts and the people they brought in with their failing promises to the board of whoever. Let's hang them out to dry and never let them do this to another good American cultured company people loved to be at. Let's send this id--ts to India and they can support their IT and live their. Also weird the one person they let go who was a big shot and said oh his family was sick so he was leaving to take care of his family. Bullsh-t that pos now has his own consulting business who contracts to TCS lol. Where has HR, ethics, or anyone been with the bullsh-t happening with this public traded company. Sick sick sick
Based on how much money is burnt in some of the business units, it's not a surprise. Managers throw money at problems instead of looking for solutions internally. Cybersecurity burns money.
Any ideas on how to share these comments with AEP leaders, including Therace and the board?
Who wants to volunteer to submit to “Ask an executive”. lol
Share this thread with people you know were sc--wed over by Therace and her cronies so we can keep the stories coming.
#canceltherace
Since the day Therace came in, it's been about offshoring as much as possible, even though it's been a shitshow and the offshore teams don't deliver, or what they deliver is garbage. I've seen a single developer out-code an entire offshore team. It's ridiculous how little work they push through on a week-to-week basis, yet offshore workers are still being hired/added even as this RIF is happening.
She's been dishonest with us since day one. There's no reason to trust her or anyone in leadership. As soon as she fired the CIO shortly into her tenure and then shut down the Charge org, she lost all faith from me. Lied to our faces for months. Most of us stuck around on account of our teammates and managers, who for the most part made the best of a bad situation for the last few years.
The fact that they didn't even consult with the managers is an extra slap in the face. They cut people that made absolutely zero sense to cut. So many people are angry and confused, it's really opened the eyes of many to the true nature of the company.
Interesting no one is talking about Julie Sloat's "we will be fully transparent" save-face a few months ago. "Leaders" use that word like a STD no amount of cream will get rid of.
It really saddens me to read these post and hear just how toxic the culture has been allowed to grow within AEP. I had a 4 decade career at AEP and took the early retirement incentive in July 2020. While I only worked in Therace's organization for a few months it was apparent back then it was not heading in the right direction. Now 3+ years later it seems to have spiraled right down the drain. Many of us retirees used to be proud to say we worked for AEP and even more so that you retired from such a good company. Now I rarely tell anyone where I used to work because of the negative impacts to the good people and outstanding employees that I used to work with. I wish everyone the best whose lives have been turned upside down by these disastrous and ignorant decisions.
Toward the end of 2023 it was announced that Therace and her Target team had overspent the IT budget by $250Million Dollars for 2023. Therfore all projects were being stopped. You try to overdraw your bank account by $1 and see what happens to you. But NOTHING happened to this incompetent bunch of bo--s. No action was taken above her either.
Now that 2024 rolls around the business has said NO we are not allowing this to happen again and what is the result.... We all loose our jobs. But Therace and company will continue right on with their fat bonus and big pay checks.
What is wrong with management and boards that allow this stuff to occur. Very sad. But look at the stock price tanking as well. Wall street knows. What a shame.
I just finished working 2 months to get a 2024 budget for a major project refined and APPROVED...the APPROVED budget included my position....which was part of this sla-ghter. Make it make sense.
I was also one of them that got cut. Wish they had an effective short transition plan. My colleagues will have to figure out bunch of stuff the hard way. Best of luck folks in your new careers.
I wonder daily if Theraces hiring and destruction of AEP was an understood plan of attack by the board. Why else would AEP leadership and the board let it occur otherwise?!
It should also be telling how bad the culture and leadership is with how many senior and executive leaders that have left recently.
Beware, if you get “reorged” into her org, your life will go downhill fast. It appears she was hired to bloat her org and be an executioner for AEP legacy of knowledge and culture.
Sorry for all those let go. I am still hanging on.. Just praying that Therace is let go before she completely destroys the company. She is at least half way there. Our Board of Directors need their heads checked.
Since Therace and her Target team came to AEP , the culture has nosedived. AEP went from a place people were happy to work at to one that causes employees dread. They won’t even release the results of the latest Gartner survey so now they are “ seeking new ways to evaluate culture”.
The layoffs are the Target team’s way of covering their butt since the outsourcing to TCS has cost so much more money with worsening results as opposed to the promised increase in savings and improved results. A regulated industry is different than retail, imagine that. No matter, I’m sure Therace and her team will soon move on like ticks who have drained their victim
And as long as the dividends etc are good, no one high up cares. It’s criminal how loyal, long term employees were treated yesterday. It’s sad what has happened to a good company.
Therace destroyed IT support at AEP. Everyone now hates calling the helpdesk or IT support. I don't know anyone who has called the helpdesk and had a pleasant experience. She moved the call center to India and the language accent barrier makes the phone call unbearable. Many people just hang up and call again hoping to get someone that can speak clear English. They are not AEP employees so they don't understand our structure or the physical locations.
All top performers, essential, and loyal employees who were let go. Colleagues who dedicated between ten to thirty years of their career to AEP only to be kicked in the face as a thank you. Mass meetings held with a monotone and a “EFFECTIVE EOD” to close it out. From what we’re hearing, it’s more like 400 that were terminated. I have lost faith in AEP and leadership.
No one higher than VP was impacted by this latest cut. Very puzzling of who was kept and who was cut as the cuts and loss of quality, knowledge people is quite deep.
They are also laying off some non union lineman and some line crew supervisors as well
Any Companies financial performance is directly related to Leadership. When a company makes these sort of drastic measures to cut costs it is clearly time to bring in new leadership. This is a result of bad planning, poor strategy, and/or poor execution.
I started there in 2015. It was a target company for me. The culture was better than where I was. It slowly got worse. The protected bad actors and problem employees. I actually had to go to Ethics due to management not addressing toxic and aggressive employee actions.i left b shortly after that
I've heard that those people are still there. Not impacted. It's no longer a place for performers. Just pretenders
I was one of the employee’s let go as well and I also got zero notice. I had been at AEP going on 10 years and was in project management for my last two. I also was in my department longer than the other four yet I was axed. AEP does not care about their employees at all, they are all talk with zero action.