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Tue Jan 30 3:52 pm  #1


Shaw Communcations launches voluntary buyout program

 

Fri Feb 9 11:48 am  #2


Re: Shaw Communcations launches voluntary buyout program

How bad can working at Shaw be?  Management there has reportedly been stunned by the number of employees who want to take the buyout package. According to BNN, the company is asking many of those who applied to reconsider, or face having too few employees. I don’t think I’ve ever seen anything quite like this before.
 
What does that say about working for this company?
 
From the BNN article:
 
“Employees are being offered six months plus one additional month for every year of service as part of the buyout package, according to an internal document obtained by BNN. The pay will be distributed at either the higher of either the employee’s 2017 earnings or an average of the employee’s earnings over the last three years and will be capped at a maximum of 30 months.”
 
It seems like a lot of workers smell layoffs in the offing and are trying to get out with a better deal while they can. But the company insists “we can guarantee that there will not be mass layoffs during this multi-year Total Business Transformation.”
 
This just raises further doubt. In my experience, when upper management gives you a “guarantee” like this, it generally means exactly the opposite. I well recall hearing stories about how, after CHUM founder Allan Waters died, his son Ron assured all staff at City TV that the company was absolutely 100% not for sale and everything would stay the same.
 
Less than a year later, it was in the hands of Rogers and there were dozens and dozens of layoffs.  
 
So the upper levels at Shaw should be careful what they wish for. You may be restructuring, but I think your workers are sending you a message. And in an era where finding another job in this industry isn't easy, that's a very powerful statement. 

Shaw seeks to reassure staff after strong response to buyout program

 

Fri Feb 9 1:46 pm  #3


Re: Shaw Communcations launches voluntary buyout program

That's kind of hilarious. I still remember working at a few companies in my youth where folks would at least wait until the SECOND offer, usually a much better package than the first, before they'd jump ship.

I guess none of the workers at SHAW think a second offer is going to come, or as you noted, they really really, REALLY want out of that place. Any SHAW employees on here? Is the place just a dumpster fire right now?

 

Fri Feb 9 2:09 pm  #4


Re: Shaw Communcations launches voluntary buyout program

Similar topic, different company:     Corus Entertainment has held just above $7 for some time now.   If it drops through what I believe Good Ol' Lou Skeezix would term that "support" level, where might it land next?    

 

Fri Feb 9 2:23 pm  #5


Re: Shaw Communcations launches voluntary buyout program

Having been a contractor at TELUS a few years after the first set of layoffs, when it was still Alberta Government Telephones (AGT), there was a huge contingent of folks in the 50-65 year old retirement window who realized that taking a buyout made more sense than waiting to retire.  TELUS was smart though, never offering a buyout to more employees than they wanted to lose.

I know that Shaw has a lot of long-time employees, so this may be the reason for the larger than expected numbers accepting the buyout.  If I read the numbers right, Shaw offered the buyout to almost half their employees!
 

 

Fri Feb 9 2:59 pm  #6


Re: Shaw Communcations launches voluntary buyout program

jon wrote:

   Shaw offered the buyout to almost half their employees!   

Investors seem to like what's happening as Shaw shares are higher on the day.     

Jonny (no relation to jon)
 

 

Thu Feb 15 11:33 am  #7


Re: Shaw Communcations launches voluntary buyout program

     Thread Starter
 

Thu Feb 15 11:39 am  #8


Re: Shaw Communcations launches voluntary buyout program

There have to be some very loud and pointed conversations happening in the HR department today when 1/4 of your staff want to take the money and run.  You just can’t put a good spin on that.


Madness takes its toll.  Please have exact change.