It all began with Sprint. I was working there as a project manager for the marketing efforts in 260 unique markets. Then the big news came that Sprint had a $3 billion short-term debt they had to repay. Since my division was the ONLY profitable part of the entire organization, they made the asinine decision to sell us. Now, I ask you. Does that make sense? If you're going in the hole, why sell the only part of the organization that's making money? Go figure.
But they've probably come to regret that decision because I'm certain the executive bonuses are more of a drag on the corporate coffers than they were before our division was bringing home the bacon. But regardless, enough said about that.
They sold the division to RH Donnelley, who had been the vendor they had given all the printing to for several years. Isn't that convenient? Naturally, the buyer had employees who could perform the same duties as the Sprint folks who had been doing it. So, no surprise, they let most of us go. But they did it very cleverly. There are regulations regarding the payment of severance related to layoffs. If a company lays off 50 or more employees during a 30-day period, they have to pay a larger severance than if they lay off less than 50. So, 49 of us were scheduled to depart every month. Pretty clever, although a bit stingy in my opinion.
I'll talk about JPMorgan next time because I'm getting really pissed off remember what happened a short while back. Greedy bastards!
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