10% of the US payroll will be reduced. Company had over 300 VP titles with $200k salaries or more....too top heavy.
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And it's a double edged sword for those P's and VP's that were let go. On the upside you carry that title on your resume for life, they can't take it away from you. On the downside, it's really hard to take a salary hit if you have to downgrade on your next job, which is more than likely in today's job market.
I believe you are incorrect. There aren't 300 people with VP titles. less than half that have P or VP titles.
I do agree that the company is top heavy.
Most of the VP, Sr.Director, and Director needs to go. This will continue for another 2-4 years.
I wish it were just VP positions.