ABT is doing OK in some areas, stock is good, but there are pockets of cutbacks starting. Hiring freezes, open position cancellations, executive 'retirements' without replacement, most DVPs given cut-back tasks. Nothing too disastrous, just Miles preparing for recessionary climate.
There are still far too many IT people in bands 20-25 - at least 35% more than Abbott needs; the plan is to exit them (hopefully gracefully) and bring in lower band IT hands-on 'do-ers' and not 'strategic directors'. Painful IT cuts coming - and about time, too.
Not that small; 27 total impacted, plus open positions cancelled, promotions frozen. Tough deal for those impacted.
Deeper IT cuts are in the works. Cafeteria menu going through yet another major revamping, hamburgers might be gone along with roast beef.
We are rolling into January, layoff month for Abbott. I 've worked here for 16 years and this seems to be the pattern. I guess we need a new thread...2020 layoffs
Don't be surprised if you do get the boot and that your package isn't all that great. Severance packages have been toned down this past year, unless you're executive. In fact, they're about a quarter of what they once were. So... Don't kid yourself.
My job at Abbott got moved to another group and I got laid off after 12 years at Abbott. I am not young and my package was about eight months. This was about 4 years ago. Bad news for employees if this generous kick in the ass is now gone.